Credit Card with Company who have Statute Barred Debt?

RobbieNorwich

I have some old statute barred debt with a company who have quite an attractive credit card deal going at the moment.

If I was to apply and be accepted, what are the chances of all that old debt being put on the new account?

Like most old debts, its been through a number of debt collection agencies.

MrSilk

How old is the debt?

jonesMUFCforever

IMO very likely - statute barred only means they can't take you to court to enforce it - it does not disappear.
To be honest if they have any info about you at all you are more likely to be declined.

Nasqueron

Even if the debt has disappeared from your record (after 6 years) chances are they will have an internal blacklist (especially if you didn't pay it off and it's now barred) which will reject you automatically - once bitten, twice shy and all that

RichL74

Look at it this way, I borrow £100 off you and dont pay it back then six months later I come back to you and ask you for another £100, would you lend it me?

Some credit card companies do indeed keep their own internal blacklists however and how many years they keep you on it for is up to them.

chattychappy

RobbieNorwich wrote: »

If I was to apply and be accepted, what are the chances of all that old debt being put on the new account?

If they accept you, they couldn't put the old debt onto the new account and enforce it any more than they can enforce it now. But if you "acknowledged" the old debt in some way, it could become live again. Google "acknowledge debt" for an idea of what this means.

TherealMandM

chattychappy wrote: »

If they accept you, they couldn't put the old debt onto the new account and enforce it any more than they can enforce it now. But if you "acknowledged" the old debt in some way, it could become live again. Google "acknowledge debt" for an idea of what this means.

once it's stat barred its never live again

Simon7685

I had debt with Capital One that was over 6 years old but they have since taken me back on and I have 2 cards with them now.

I also owed MBNA from the time when I was up to my eyes in it and completely irresponsible with money. They gave me a platinum card in January and have just increased the limit up to £4100.

So it does not always follow that past debt will stop you being given a second chance.

Hope that helps.

Mr_Goodkat

Who was the card provider?


You may well be rejected at the application stage as they may still have the record of your bad debt on their systems.


Depending on the card provider and their policies will depend on how likely you are to get the card and how likely they are to try an pursue the old debt with you.


It may be that as they sold the debt on and were paid by the debt collection agency that they consider the debt you once had settled and will be happy to start again. It may be that they don't keep the records dating back as far as when you had the bad debt.


It all depends on whether the benefit of the new card is worth the risk of either rejection or resurfacing of the debt?


Is there not a card provider out there who you have not defaulted with who offer anything similar?

antonymp

matmidgley wrote: »

once it's stat barred its never live again

Yes it can, because the 6 year time limit for debts to become Statute Barred may be reset upon acknowledgement of the debt.

RichL74

Don't think the OP is coming back.