sleepless due to old debts

muchoregret

Hi all

I am worried. I have accumulated various debts which I have been unable to repay (lots of debt accumulated by my now ex-husband, but I will save you the sob story). We made a break to another country.

While we were abroad I tried making repayment plans for some of the debts, the ones I was being hassled for, but they demanded payment in full, which i could not, so stopped paying all in 2008. All my correspondence went to a PO Box and this is still the last address they have.

After 4 years I came back and got a brand new credit file, all looked good. I was chased by one DCA right to my parents place, but I settled that one. Since then no news from any DCA's.

I rented for a while, got divorced and now a single mum, but with a good job and a downpayment from my folks, I was able to buy a place.

Good luck doesnt last forever and I was tracked down, not at my new own home, but at my last rented home with a letter from a DCA asking me for a reduced payment of 50%.

No idea how they found me but they did. I called and asked what this was about, I had no recollection of any debt and how they can be sure it is me. They said they were not sure, mistakes can happen and they will delete this entry.

Surely it cant be this easy!

I am doubtful and I am worried. I am so very worried, I just want to pay all of my debts. What worries me the most is my house, since my parents loaned me the deposit, the only equity, I would rather die than loose this for them and my child especially as this equity is more than I owe to anyone.

But what do I do? I have limited cash flow. I could pay the one who traced me back on the rented flat, on their offer, but then will they others find me too? I think i am about 4 months off statue barred one 4k debt and the other 4k debt should be statue barred already, plus a 8k business loan personally guaranteed, should also statue barred.

But I dont know, because I do not know if they served me at the PO BOX. I looked for CCJ's at the PO box and my other last known address but there was nothing, but what if I was served a Statutory demand and I don't even know?

Now that I am free of my ex, have a good job, lovely daughter and home, being debt free is the last barrier to becoming the person I should have always been....

Would seriously appreciate some advice.

Thanks
sxxx

thewhiteavenger

muchoregret wrote: »

I think i am about 4 months off statue barred on other 4k debt and the other 4k debt should be statue barred already, plus a 8k business loan personally guaranteed, which is statue barred.

Would seriously appreciate some advice.

Once a debt is statute barred you are effectively debt free because, although technically the debt still exists (well it does in England/Wales anyway), it cannot be enforced through the courts, you have a full defence if they try, and OFT/FCA rules say that they must stop collecting a debt if you say you are not paying because it is statute barred.


So you have only 4 months to go, you seem to have a effective phone technique, you have the support of this site and you seem about as far away from putting your home in danger as it is possible to be.


Have a read at other threads. You are in a very strong position compared to others.


If you REALLY want to pay them, bear in mind the present owners will have paid a few pence in the pound for them. You could wait till they are safely statute barred and then offer them 10% in full and final settlement.

muchoregret

thanks a lot for your response. I guess my worry is that because the DCA's know of the statue barred dates, they will try everything possible to get their money before. I am worried about being served a bankruptcy petition, at my last known address without even knowing, as a last resort.

happy_bunny_2

Its a tricky one.

I guess you have to consider if having a CCJ or more would be the end of the world? If you have a mortgage, then you just wouldn't be able to easily change it for 6 years.

the other side is what's the point in wasting t he money getting the CCJ if they have no real chance of getting the money if they can't find you.

When were the cards/loans taken out? If before April 2007, then they need an original signed perfectly formatted CCA to get a CCJ. Only if defended otherwise they will probably just get a default judgement as you won't get that chance.

The others may well trace you to your new place via your credit file.

poppasmurf_bewdley

muchoregret wrote: »

thanks a lot for your response. I guess my worry is that because the DCA's know of the statue barred dates, they will try everything possible to get their money before. I am worried about being served a bankruptcy petition, at my last known address without even knowing, as a last resort.

I think it will cost the DCA about £700 to issue a bankruptcy petition against you. Do YOU think they would risk this amount of money in the HOPE they may get more back?

My own opinion is that they won't.

sourcrates

muchoregret wrote: »

thanks a lot for your response. I guess my worry is that because the DCA's know of the statue barred dates, they will try everything possible to get their money before. I am worried about being served a bankruptcy petition, at my last known address without even knowing, as a last resort.

I think your giving them too much credit here, they have thousands of accounts, of which yours is just one, you are just an entry on a screen to them, they mainly concentrate on people who pay up without question, anyone who challenges them or people whom they cant trace, usually get put to the bottom of the pile, with DCA`s its all about a quick return, if they don't get that, they usually sell the debt on, so as they have had no luck tracing you so far, my opinion is you have little to worry about.