Will starting paying debts start my 6 years again

smeelicious

I've just joined noddle and now know what i owe and to who, i had planned to pay them all off but i have 6m to a year left before the 6years is up so if i start paying them now does that start the 6 years again?

happy_bunny_2

If you are referring to statute barred, then yes.

If you pay or acknowledge the debt in writing, that resets the 6 years.

Is anyone chasing you for the debts?

Have you moved? Checking your credit report and adding a new address will link it to your old one and DCAs will likely get alerted to your new address.

smeelicious

None of them knew my address but i've just signed up to look at my credit report, so am i best leaving them unless i can pay it in full?

happy_bunny_2

Trouble is, if they don't have your address, they might decide to apply for a CCJ just before the 6 year point and you won't know in time to defend it as they will send the papers to your last known address.

DCAs are most likely to do this.

Who owns the accounts at the moment?

Basically, you have to either wait the 6 months at the risk of the above or risk acknowledging the debt to change your address. The acknowledgement on the phone wouldn't reset the 6 years, but would unleash hell from the DCAs for at least the next 6 months.

There is no clear answer here....

I presume you have no CCJs on your file already?

smeelicious

I have a previous CCJ thats been paid.

I have just registered on the electoral roll at my new address so have a feeling they will get my new address through that, so i could phone and change addresses but make no payment plans and not reset the 6 years or just wait it out and hope for the best?

I was actually planning to start paying them but don't want them resetting :-(

smeelicious

Am i right in thinking the 6 years starts from date of default?

happy_bunny_2

smeelicious wrote: »

Am i right in thinking the 6 years starts from date of default?

No, its from the date you last paid or acknowledged the debt in writing.

As defaults usually take 3-6 months to register, it may well be earlier than the default date.

You will need to look through bank statements, credit card statements, or the detailed account monthly history on your credit report to figure out when you last paid each debt.

Once statute barred, it can never be reset. So if you want to pay then, you make sure the company know its SB then offer them not a lot as a take it or leave it full and final offer. Or you don't have to pay and they will hassle you, but can be fended off.

smeelicious

i have switched banks since then so no way of checking when i last paid them, but going by the date of defaults i have 6m to a year left on them all.

happy_bunny_2

Also depends if you wrote to them regarding the account around the time you stopped paying. That would reset the 6 years.

You can probably get a clue from your credit report, as it will likely say 1 month late, then 2 etc before the default. I have some not paid since early 2013 that defaulted in mid to late 2013.

smeelicious

No never wrote to any of them, just started ignoring them :-/ i was young and stupid with money then.

happy_bunny_2

In that case, you might be closer to the SB date than you think.

Take a look at the payment history on your credit file. Some of them show the outstanding balance each month too.