Old Loan

LauraLou1982

I have got myself in a bit of a pickle and would appriciate some help. I did have lots of debt and managed to clear it all, monthly payment by monthly payment!
I have got a letter today about a loan I totally forgot about, which is terrible. It was from LTSB originally for about £10k, got the loan in approx 2004. I got it down to 2500, and then ran into debt trouble, hence all the other debts I have now cleared.
I haven't paid anything towards this debt for years though. I have got a covering letter from LTSB saying they have sold the debt to Lowells and cant see any reason why I haven't paid it. There is also a letter from Lowells saying the same thing and i need to pay in full or do a monthly payment. The thing being now though is once I paid off all my debt I applied to uni and now, although I do get a small wage I am a single mum and studying at uni to better myself, so wont be able to afford the big monthly payment which they will probably want.
Its so annoying, I waited to go to uni till I (thought) I had paid all my debts, and now this huge one crops up!
So, what do I do, does anyone have any advice? I probably havent heard anything fomr them before now as I have moved a few times in recent years - I don't know how they have found me now as I only moved in here 3 months ago and haven't registered on electoral roll yet! any advice would be great, thanks!

happy_bunny_2

Have you paid anything to it or acknowledged it in writing for a period of 6 years? If not its statute barred and they can't make you pay but can ask.

If not statute barred, have you submitted a CCA request? Without an original signed one, can't make you pay as cant get a CCJ. Can give you a lot of grief mind...

LauraLou1982

thanks for reply happy bunny. I caant remember when I last paid or acknowledged it really...whats a CCA?

happy_bunny_2

CCA request will give you A copy of your credit agreement you should have signed. If they have it. Older ones can go missing.

Can you look through your statements? It's quite important as if you admit the debt now in writing or pay anything you restart the 6 year clock to statute barred.

There is a prove it letter on here that shouldn't admit anything but will request the CCA or other proof. Sorry, not good at finding templates from my mobile.

LauraLou1982

yeah I see your point, its so annoying I cant tell how long ago I paid/contacted them! Even if I did go through my statements I cant remember if I have spoken to them within the 6 years.

If they would accept £20 a month I would happily pay but I bet they wont. And then I have opened that flood gate of having admitted it havent I?

fermi

Speaking to them on the phone does not restart the 6 years running again. It is only clear written acknowledgement signed by you or a payment made by you that can do that.

LauraLou1982

hmmmm. thanks fermi. but if i offer a payment and they decline it, does that not start the clock again?

fermi

I was referring to you trying to work out whether this was already statute barred now. You said you might have spoken to them within 6 years, but I was pointing out that wouldn't matter and it is only acknowledgement in writing or payment that matters.

Right now though....

If the debt is statute barred, then it doesn't matter what you do. Once statute barred the debt stays that way, permanently. No offer of payment or acknowledgement can "unbar" it.

However, if not statute barred yet then any offer of payment in writing may well constitute acknowledgement, and so reset the 6 years over again.

So first of all, don't be pressurised into making a response and try your best to work out when this was last paid or acknowledged in writing.

LauraLou1982

Thanks Fermi, that's lovely, I understand what you meant now, sorry, me being a bit slow!
Will they tell me when a payment was last made if I call them? I cant think of any other way to find out? Or am I best to send a CCA request in? very confused, and very annoyed as I thought I was entirely debt free!

LauraLou1982

Can anyone still help me with this? Ive been a bit naughty and left it in the hope it will go away (which I know it wont). Lowell sent me a few more letters, now Ive had one today from Hamptons Legal saying Red Debt Collection have asked them to pursue the overdue balance on my Lowell Portfolio Account?
It says I am contractually responsible for paying the debt and unless I send payment to Hamptons or Red then they may apply for a CCJ against me. Then says informtation about CCJs...then says to contact them for an affordable payment plan?

Need to stop burying my head in the sand with this one last debt...any advice on what to do next? I cant remember when I last paid or spoke to them, got to be getting on for 6 years though...

LauraLou1982

i have now logged onto equifax and (eeeek!) had a look at my credit file, and it looks like I had an arrangement to pay for a few years and then defaulted in january 2009...then says settled in June 2013?? default of original balance was 2600, but below that when its transferred to Lowells it says current balance 147? can anyone help me please? am confused!