Debt that has never been acknowledged - need advice

Glamourpuss23

I have had this debt since 2007. I owe over £2000 to different lenders. I have been in financial trouble for various reasons ever since 2007. The debt is in my name but was took out for my now ex boyfriend. I was young and naive and highly regret it now that I am a bit older. I know how stupid I've been.

Anyway, they don't hassle me for the debt so I sort of forgot about it but I was wondering, and this may be a very silly question, but will they ever give up? The reason I ask is not just wishful thinking lol, but because I heard that debt when it is in the defaulted stage is removed from your file after 6 years. Does this mean it disappears? I'm confused.

All I get is letters once in while saying how much I owe. No bailiffs and no phone calls. I don't acknowledge the letters.

What do you think I should do? Please be nice.

Tixy

The debts will drop off your file 6 years after the default dates recorded on your file.

Separate from that - if there is a period of 6years where you pay nothing towards the debt, don't write to acknowledge/admit the debt and if they do not take court action against you - then the debt would become statute barred. Which means that whilst you still legally owe the money they can no longer take you to court to enfore the debt against you.

Details on statute barred debts and the limitation act here - Statute barred debts and the Limitation Acts

Glamourpuss23

Thanks for the reply.


So it will be removed and they can't force me to pay by threatening me with bailiffs and taking me to court? Have I understood it right? Does this mean when I look into getting a mortgage in the future that there will be no history of the debt that lenders can see? That sounds too good to be true!

fermi

One the default expires after 6 years, all record of the debt is removed from your credit file. A potential lender checking your credit files would not see any evidence it ever existed.

Glamourpuss23

Wow that's amazing lol.

fermi

Just the way it works.

See: https://forums.moneysavingexpert.com/discussion/4756875

CKhalvashi

Since 2007, it may be SB already.

When was the last payment made, or when was the debt last acknowledged in writing?

CK

John1993_2

Glamourpuss23 wrote: »

Wow that's amazing lol.

You still owe the money, by the way, even after the six years, and most people would tend to expect that you at least make your very best efforts to repay what you can.

Eventually, when you trace the route back, that money will have come from investors, or from people's pensions, and if you have taken it and never returned it, they are losing out.

CKhalvashi

John1993 wrote: »

You still owe the money, by the way, even after the six years, and most people would tend to expect that you at least make your very best efforts to repay what you can.

Eventually, when you trace the route back, that money will have come from investors, or from people's pensions, and if you have taken it and never returned it, they are losing out.

However we're talking legally, rather than morally. The moral debate is for the discussion boards.

Glamourpuss23

John1993 wrote: »

You still owe the money, by the way, even after the six years, and most people would tend to expect that you at least make your very best efforts to repay what you can.

Eventually, when you trace the route back, that money will have come from investors, or from people's pensions, and if you have taken it and never returned it, they are losing out.

I have every intention of paying it back once I am financially capable of doing so.

Glamourpuss23

CKhalvashi wrote: »

Since 2007, it may be SB already.

When was the last payment made, or when was the debt last acknowledged in writing?

CK

I last contacted them to discuss paying back in July 2008. However I became unemployed and had a serious illness which meant I didn't have enough money coming in. So I had to put the debt on hold in order to pay bills and buy food.
So they haven't heard from me since 2008 but they still send letters.