Red Debt Collection and Lowell Financial Demands

It_never_rains_but_pours

Hi,

I am wondering if anybody can give me any help. I ran up a lot of debt just after I graduated university in 2006 which I never paid off, I know this is wrong and I should not have gotten myself in to that situation.

However, I am now living with my boyfriend (who owns the flat) and I have received a number of letters from the above mentioned companies demanding money.

We are not linked in name or by any financial accounts. However the address we live at is my registered address and my bank statements are sent here.

My boyfriend is going to be applying for another mortgage this year and I am really worried that my negative credit history will affect him negatively. Can anybody give me any advice?

In addition to this, does anybody have any advice on dealing with said companies? The credit for which they are demanding payment is outwith the six year limit and thus not enforceable if I am correct in thinking? Despite this, can they still take me to court or send collector to my address? This is something that I am really worried about.

Any advice would be greatly appreciated.

dgtazzman

As long as you aren't financially linked (joint bank account, joint mortgage etc.), your credit history will have no effect your your boyfriend's, so that shouldn't be a problem, assuming you didn't intend to apply for the mortgage jointly.

You say the debts are from 2006. Have you made any payments towards them or acknowledged them in any way since then? If no, then they are probably statute barred and won't be on your credit file anymore and Red/Lowell are using hot air to try to scare you into repaying debts that can't be enforced anymore.

It_never_rains_but_pours

Thank you for your help!

I have made no payment towards them or acknowledged them at all and yes, they date back to 2006. I have seen them as defaulted on my credit report but obviously still worried about the affect on my boyfriend and the potential for a visit/court demand . From what point do they take the debt as defaulted and that six year period starts? Can you tell I am in a big panic?!

DCFC79

Its as dgtazzman says, when did you last make a payment if you did as the 6 years will start from then eg if you made a payment in april 2010 then the 6 years would start form then.

dgtazzman

And if no payments have been made, the 6 years would start from the date of the original default of the debt. If this period has expired, there are some standard letters floating around here to can send Lowell/Red that basically let you know that the debt has become statute barred and that it isn't enforceable, so they need to leave you alone... Also if the default is over 6 years old and still showing on your file, contact the CRA and ask them to remove it on these grounds.

Whatever you do, don't just acknowledge the debt as being yours, that might give them a leg to stand on and chase you... Make them prove it first (which half the time they can't with debts this old).

fermi

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