what do I do first to sort out debt

Jules429j

Hi I am a soon to be fifty year old and I currently live in a room in a shared house at present due to marriage breakdown and debts from years ago
I have been hiding from my debts for some time and havent got a clue on how to even find out what I need to do, and have no idea of what I owe. I really want to sort my life out and am unsure if I should start by going onto one of these credit report sights for a 30 day free trial. If so which one is safe to use and if I fill in my details will I have people knocking on my door for money. Am sick of worrying about what I owe and would like to sleep at night for once. I work full time for the nhs and have been within this organisation for over 23 years. Please could someone advise me on the safest option to start sorting my finances please

ViolaLass

Do you have any paperwork relating to your debts? You could start by going through that and writing up a list of what you owe where.

As far as I'm aware, signing on to a credit report site e.g. Experian will not mean that any of your creditors are alerted but I'll leave that to more knowledgeable posters to comment on.

Tixy

Hi and welcome to the forum

There are 3 main credit reference agencies in the UK
-Experian (also trading as credit expert)
-Equifax
-Callcredit (also trades as noddle)

If you request a copy of your file from any of these you will effectively be providing them with your current address and making it much easier for your creditors/debt collectors to locate you and start chasing you for payment again. They all offer tracing services to their members (who are lenders/debt collectors etc).

You are likely to receive letters chasing you for payments rather than people knocking on your door. But if any of your creditors has taken court action against you then it is also possible that you could find they instruct bailiffs to attend your address.

Roughly how long ago did you stop payments to your debts?
Are you in a position to start paying anything towards your debts each month?

Jules429j

I have moved address several times over the past few years and have not received any letters from creditors asking for payments since I last moved just over a year ago when I was staying with my daughter. I am in a position to start to pay back money owed but I couldnt afford large payments as my salary is not brilliant. I was concerned that if I signed up with an agency that they would then let creditors know where I lived and would end up being unable to meet payments that they may ask for. Would an agency rake up any debts that where over 6 years old ?

Tixy

Debt collectors are likely to still try to collect debts over 6years old.

However are you aware of the limitation act and statute barred debts?

A creditors has 6 years to take court action for a debt. If there is a period of 6years where you pay nothing towards a debt and don't write to acknowlegde the debt then if they haven't taken court action before that 6year period is up the debt becomes statute barred meaning you do not have to repay it. (The law is different if you are in Scotland and it is only 5 years).

If your debts are more than 6years old since you stopped paying then you would quite likely only need to repay any that took court action against you.
CCJs would appear on your credit reports, but you can also anonymously find out if any creditor has taken court action against you in the last 6years using the registry trust website. This allows you to search any name/address combination for CCJs (costs £8 per search) but means that you can find out without providing the credit reference agencies with your address details.

In terms of being unable to meet repayments they ask for - if you are not in a position to repay in full then you can offer to pay in installments at a rate you can afford (either writing to them yourself or seeking advice from one of the debt advice charities - IMPORTANT - Where to seek professional impartial advice about your debts.)

Jules429j

I have no exisiting paperwork at present and really have no clear idea of what I owe. What do you think should be my first step please

Jules429j

Also I am meant to be moving in with my new partner but I dont want to credit black list his address. I am so embarrassed please advise

sourcrates

Jules429j wrote: »

Also I am meant to be moving in with my new partner but I dont want to credit black list his address. I am so embarrassed please advise

A credit "blacklist" is a myth, if you are not associated financially, you will not impact on your partners credit rating.
If you do register with any of the CRA`s, your creditors will be able to trace you.

TBagpuss

Credit reports relate to people, not to addresses. To avoid your new partner becoming involved with your poor credit, you need to ensure that the two of you don't open any joint accounts. Just living at the same address as each other should not cuase her problems, but she could if she wanted add a note to her records with the credit agencies 'dissociating' herself from you, and making it explictily clear that you are not financially linked.

I suggest that you contact Stepchange (http://www.stepchange.org/) - they are a debt charity and can provide fee advice and information. They would also be able to help you with templates ct to draw up a proposed payment plan and offers to creditors, to start to pay off your debts at a rate which you can realistically afford.

I suggest that you talk to them *before* you make contact with any creditors, so that when you do make contact, you know where you stand and are less likely to be rushed into agreeing an unaffordable payment plan.

Well done for making the choice to start to deal with the debts!

Jules429j

wow thats amazing, you must have worked really hard
if you where me what would you do first please

Jules429j

oops sorry I didnt see the end of your message
thanks so much for your kindness