Debt advice needed....

shaneyboi

hello all, Pretty new to the forum world but i have a bit of a challange ahead of me and i need some words of advice, from somebody in a professional body or somebody that has resolved a similar situation themselves.. here goes....

Basically, when i was 18( im 29 now) i racked up a bit of a debt. which i took a loan to pay off..got the loan and spent it all not paying off the original debt...this left in a very very deep hole and been 18 i didnt understand, i freaked out, and ran away from it! I moved house endless times, numerous mobile phone numbers etc, ive never spoken to any creditors, spoken to any baliffs...ive had half the amazon rainforrest through my letterbox, which ive dutyfuly just thrown in the recycling bin.

im not proud of what ive done, in fact im really ashamed in what ive done (but ive grown up alot since then:T). and ive decided that i dont want to enter my 30's as i entered my 20's. for a decade now ive avoided answering the front door incase of baliffs etc and fankly and rather deal with my problems now than live like this anymore.

in spirit of this new found attitude, i have contacted a debt advice service...they couldnt help me without me getting my credit report (which i was really dreading!!). i have obtained 2 reports from different companys........and there is no sign of this debt anywhere...in fact apart from the score itself my report isnt really that bad...

my question is.....that debt surly cannot of vanished. where would i find it again? these debt advice services cannot help me if i dont know what i owe and to who. ive not had a letter from any collection agencys in quite a while now.... is there any hope for me to sort this out properly so it isnt looming over me forever. i want to get married and i dont want this situation to get the better of that oneday.
thankyou in advance.
Shane

-taff

Any defaulted debt will last for 6 years on your credit report, then fall off. After 6 years, if you haven't acknowledged a defaulted debt, it becomes statute barred and they can't come after you to pay anything.
Go through your credit report with a tootchcomb to see exactly what is on there.
If you find nothing, there's no need to worry unless you try and get credit with anyone you may have had credit with before. They still can't make you pay anything, but they may not extend any credit to you.

sourcrates

If, like you say, you have not acknowledged the debts in more than ten years, they will be statute barred now, it doesn't mean they have gone away, they still exist, its just that the creditors would be unable to obtain a CCJ against you in court, they can still write to you asking for payment, to which your response would be to send them a letter stating the accounts were statute barred.


On receiving this, they are then obliged to cease all collection activity, just be aware that getting a copy of your credit report may of tipped them off you are back on the radar so to speak, it may of been flagged up to them.