old loan (2007) debt advice

pauletruth

really keep your head down until july of next year. try and avoid any activity on your credit file.

really as you don't have the funds to pay any risk of a ccj really does not matter they will get it anyway. you owe them.

we take it your in england or wales you have another 13 months to go. if scotland you have about a month or 2.

any letters ignore for now. if it get to a few months and they contact you then prove it letters. anything that will delay it beyond the 6 years.

alternatively you could offer token payments but they are not likely to be keen on agreeing. its a big sum so more likely to go after you.

mwbowen82

thanks.. god that sounds depressing though!

if anything does come in the post im wondering if its a good idea to just try get a repayment plan in place and sort it as quick as possible. surely they would agree to that as at least i would finally be paying it?

im in wales, so yeah it does feel like quite a lot of time to be waiting around for something that may/may not happen.

mwbowen82

if it gets down to 2/3/4 months then i can probably just string it out to the 6 year anniversary i guess.

i might start saving away from everything else and see if i can at least get some emergency money together for this. even if its just something to take the heat off if it comes to it.

pauletruth

good idea.

mwbowen82

huge bump.. had letter through dated 12/1/2015 saying it has been passed to Ruthbridge (?) and they will be in touch within 7 days.

From reading the initial post on here, would you say im in a position to tell them to just go away (ie send the statute barred letter) ?

nothing happened from the last post until this letter.....

really brought back very bad old feelings and memories..

fatbelly

statute barred June/July 2014 by the sound of it.

Use the letter if Ruthbridge write with definite details. If it's just a general fishing letter, ignore.

mwbowen82

thanks for the reply

is it possibly related to me moving again and checking my credit report? - triggers a response?

The letter was from cabot with the ruthbridge letter enclosed. Doesnt sound particularly threatening. Got out all the old letters and from piecing everything together im about 90% certain that the last contact was around June/July 2008 - which was them asking for proof of earnings which I did not do.

Do collections agencies still send this stuff after 6 years?

thanks for the help!

sourcrates

mwbowen82 wrote: »

thanks for the reply

is it possibly related to me moving again and checking my credit report? - triggers a response?

The letter was from cabot with the ruthbridge letter enclosed. Doesnt sound particularly threatening. Got out all the old letters and from piecing everything together im about 90% certain that the last contact was around June/July 2008 - which was them asking for proof of earnings which I did not do.

Do collections agencies still send this stuff after 6 years?

thanks for the help!

According to your dates, the account should now be statute barred.
DCA`s will chase old accounts, hoping the debtor is unaware of the limitations act.
If you believe a debt to be SB, then you must respond to any letter telling them that the account is SB, and you will not be paying it.

Once you have informed them of this, they should cease all collection activity, however, in practice, its not unusual for a DCA to find a "phantom payment" made within the last few years, thus extending the SB date, this rouse is used to make you think you have to pay up, but is quiet easily challenged, and in the end, they would have to prove the payment had been made.

mwbowen82

thank you - very helpful.

mwbowen82

Just a thought - after all this time of not really chasing me - is it likely that this is because they dont really have much 'on me' anyway? ie - no credit agreement etc?

Im feeling really paranoid about this - exactly how I was back between 2007-2012 when my debts were really really bad. If this does indeed turn out to be a victory for me then i would in effect be free from everything as Ive paid off everything else. To take this on now would be a huge setback.

To bore you with my story - I must have had about 12-15k of debt back around 2007 and ive never had a good job - Ive never been paid more than about a grand a month really. Since smashing through those debts Ive got married, had a honeymoon and bought a house - things I never thought would happen to me back when I was incredibly depressed about debt.

The fact that I could get a mortgage, and that this debt 'fell off' my credit report a while back - I actually forgot about this and ive never been happier in my entire life.

I know this debt was my fault and still exists technically - but I cant go back there.

I guess I should just wait and see what this letter is that they are going to send me - and ideally respond with the SB letter.

Ive been searching every corner of my brain for ANY possibility that there has been a response from me in 6 years and I just cant see that I would have when I link it to other life events/etc..
I can remember pretty clearly writing to every single one of the DCAs chasing me back in about June 2008 in desperation to finally sort things out and this is the one that never was - just cant think why as I was great in sorting the others..

Also to add - this forum is fantastic and you people are doing in a great job in helping those who really really need it. I know how it feels to be at such a low that you really dont know what to do - and this forum helps so much. A lot of fantastic advice.