Help! So confused xx

John1993_2

Deleted User wrote: »

if we could pay off our debts we wouldn't be on the debt-free wannabee forum! Sometimes life gives you an horrendous wedgie, and we deal with it the best way we can.

I rather thought that this board was for support and advice towards doing exactly that, eventually paying off debt, and so being debt free.

Of course, people wouldn't be on here if they could pay it all off today, but I think it's generally to help people find a route to repayment (through budgeting, getting help, paying off most expensive loans first etc.), not a way to welch.

Janeyxox

If I wait 2 years and the debt is legally statute-barred meaning they cant action recovery for the debt why am I going to spent 6-7 years or more paying it back for exactly the same outcome? If he gets taken to court for it Ill pay it off in full to prevent a CCJ.

However its more the fact I don't actually want to pay his exs debts off to be honest....married or not....

This may sound harsh imoral whatever but im thinking of MY money here.

buzzyzoe

Janeyxox wrote: »

If I wait 2 years and the debt is legally statute-barred meaning they cant action recovery for the debt why am I going to spent 6-7 years or more paying it back for exactly the same outcome? If he gets taken to court for it Ill pay it off in full to prevent a CCJ.

However its more the fact I don't actually want to pay his exs debts off to be honest....married or not....

This may sound harsh imoral whatever but im thinking of MY money here.

The statute barred date is 6 years from when the debt was last acknowledged. You haven't said when this was. This is totally different from the default date, which will stay the same. The default will drop off the credit file after 6 years but it will NOT be statute barred unless there has been no acknowledgement of it for 6 years, and they don't force a CCJ.

ilovelondontown

Janeyxox wrote: »

If I wait 2 years and the debt is legally statute-barred meaning they cant action recovery for the debt why am I going to spent 6-7 years or more paying it back for exactly the same outcome? If he gets taken to court for it Ill pay it off in full to prevent a CCJ.

However its more the fact I don't actually want to pay his exs debts off to be honest....married or not....

This may sound harsh imoral whatever but im thinking of MY money here.

I understand what you are say but by your own admission it hasn't been paid towards since 2009 so the debt has been actively avoided.

Others on the boards have debt taken out on behalf of a partner and are now left to pay it back because it was in their name, myself included.

Regardless of how it was spent or what it was spent on, if your husband had the loan in his name, the moral thing to do is to pay it back.

It makes for hard reading when you're basically looking for advice on how to get away with avoiding personal debt.

Janeyxox

How would you find out the statute barred date buzzyzoe? I only have his credit file to go by as he has no paper work and no idea when the last time he spoke to them or paid them was?

ilovelondontown he lost his job Dec 2007 and that was when it was last paid I think he set up numerous agreements but as he had no job at the time was unable to keep to them. Im not going to get into a discussion about whether I should pay it back or not to be honest as I think we will have to agree to disagree.

nicp60

I've said this twice already and others have said the same thing: the debt will only become statute barred 6 years from the last time you acknowledged it.

So 6 years from the last payment you made, or the last time you acknowledged the debt in writing.

You can find this out from your own records and from statements.

If your husband set up a payment plan, then that would count as acknowledging the debt, even if he didn't make any payments.

Does he honestly not have any paperwork at all?

Janeyxox

As I said in my previous post we have NO paperwork and he doesn't know when he last sent a letter as he did not keep a record.

Janeyxox

Sorry nicp60 just re read your post and things seem a lot clearer now. However I still have no idea and probably wont ever know the exact 6 year date. Thank you again

buzzyzoe

As nicp60 says, the only way to know when you last acknowledged the debt is to look at your own record, or to ask the company the debt is to, but that of course will be acknowledging the debt, so if you don't intend on paying it, then I wouldn't advise doing that!

fevlo

Just a thaught.
If the debt is for over £750 you will want to be carefull.
Lowell have a nasty habbit of going down the BR route if the debt is over £750 and you have equity in your house.

My advice would be...If you dont know when the 6 year clock last started, id pay it, either in full or by installments.
I tried the "head in the sand" approach and it really doesnt work.
Now the account is with Lowell you will get letter after letter from them, then it will pass to their in-house DCA called Red debt collection who will send numerous letters, then it will get transferd to their in house legal team Hamptons Legal who will send letters and then they may go for CCJ, BR, outsouce to another debt collector or the process might just start all over again.

Your right though, its your money, ive tried to answer your questions, its not my place to pass judgement on what you want to do, whatever route you take is your choice.