We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Credit Card with Company who have Statute Barred Debt?
Options

RobbieNorwich
Posts: 1 Newbie
in Credit cards
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.
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.
0
Comments
-
How old is the debt?0
-
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.0 -
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
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
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.0 -
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.0 -
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.0
-
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.0 -
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?0 -
matmidgley wrote: »once it's stat barred its never live again0
-
Don't think the OP is coming back.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards