Old debt

Rose_lee

Hi,

I had a bank loan in 2003, shortly after went to Uni. This debt was not paid at the time. I have paid small amounts off this about a year ago. I now received a letter that this debt has been past to a debt recovery agency. I spoke to credit experia, they advised me that this debt will be off my records next year. The debt is about 4000.

What should i do?
Do i have to pay this?
Can they take me to cour?
Will it go away?

grassgirl

I think it's wiped 6 years after last contact, so if you paid some last year I think it will be another five, but that's only what I've been told and I'm not an expert by any means x