MSDW Stopped taking my money!!

fraz1776

Hi,

I have a credit card with Morgan Stanley, I don't use it anymore...haven't done in over a year. I was paying £200 a month but about 6 months ago they stopped taking money and sending me bills!!!

One of my mates told me something about if they don't send you bill for a certain amount of time the debt is cancelled??!!

Have I fell of the system or something??

I've not spoke to them because It's nice not paying it.

ontheup_3

I would make sure your not spending the money used for the payments just incase they send you a letter saying you owe us £xxxx.xx , keep it in a nice high interest account so you can be earning from it while its sitting there

as for not oweing it if they havent taken it or asked for it im not too sure but i would think that unless a debt is 6years old then you still owe it so be very careful

HTH's

youknowwho

fraz1776 wrote: »

Hi,

I have a credit card with Morgan Stanley, I don't use it anymore...haven't done in over a year. I was paying £200 a month but about 6 months ago they stopped taking money and sending me bills!!!

One of my mates told me something about if they don't send you bill for a certain amount of time the debt is cancelled??!!

Have I fell of the system or something??

I've not spoke to them because It's nice not paying it.

I would be very careful. How would you feel if a bill landed on your door for 6x£12 for late paymnts?? then you would complain. If you want to take the risk of them Forgetting it then u need to be aware of the repurcusions! whjat is ur credit file gonna look like with 6 none paymenst on a row? I would just own up, its not worth it.