Debt's over 6 years old

Howitto

Good afternoon!

Firstly I would love to introduce myself. My name is Oliver, 27 and ever since getting the freedom of credit since 18, I've been in debt.

Until recently, I have noticed all defaults have been removed and a CCJ has disappeared too. These are all over 6 years old. I have been paying these all off monthly and rarely missed a payments.

Last week I was able to take out a phone contract for the first time in 9 years which feels great.

Now the debts are over 6 years old and all defaults removed, need I continue to pay them off? Or do I just leave my payment plan in place?

Many thanks,

Oliver.

redux

Welcome.

Keep paying. You are still liable for the debts even though the credit file no longer lists anything.

sourcrates

What sort of debts are they, credit cards, loans, that sort of thing ?

You could CCA all the accounts, as the original creditor may not have the correct paperwork for them, if they are unable to provide it, you are not obliged to pay, until they do, however long that may be.

Aside from that, if you just stop paying, you run the risk of further action, which could include legal action, so dont be too hasty.

Go through the correct channels, and you never know.

Howitto

The debts range from store cards, credit card and previous phone contract that was taken out for a friend that ended badly.

How would I go about CCA'ing them?

fermi

https://www.nationaldebtline.org/EW/factsheets/Pages/39%20EW%20Credit%20agreements%20-%20getting%20information/Default.aspx

Although the former OFT advised collection companies that they are not obliged to comply with a CCA request once a court judgment has been obtained in most cases.

http://webarchive.nationalarchives.gov.uk/20140402142426/http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/OFT1272.pdf

Westminster

You could also have a look at offering full & final settlement (particularly as they know the accounts are no longer impacting directly on your credit file).

There are plenty of threads out there - but I reckon 25% of the outstanding balance is a good starting point (perhaps even lower if the accounts are sold on to DCAs)

Howitto

Hi! Me again.

Does anyone have a CCA letter template? Although I'm paying £1 a month to many creditors, I just want to know how to now get out of this. As above, they are now over 6 years old and removed from my credit file but ideally get rid of them for good.

sourcrates

oliverhowitt wrote: »

Hi! Me again.

Does anyone have a CCA letter template? Although I'm paying £1 a month to many creditors, I just want to know how to now get out of this. As above, they are now over 6 years old and removed from my credit file but ideally get rid of them for good.

There you go :

https://www.nationaldebtline.org/EW/factsheets/Pages/39%20EW%20Credit%20agreements%20-%20getting%20information/Page-04.aspx

Only send to relevant accounts, were legal action has not been taken, also does not apply to phone contracts, or bank accounts.

Howitto

Only send to relevant accounts, were legal action has not been taken, also does not apply to phone contracts, or bank accounts.[/QUOTE]

Thanks for that, appreciate it.

I have 6 accounts with Lowell. Would you recommend sending 6 letters or one letter noting each account number?

sourcrates

oliverhowitt wrote: »

I have 6 accounts with Lowell. Would you recommend sending 6 letters or one letter noting each account number?

Has to be a separate request for each account, each must be accompanied by the requisite £1 payment, if you don't have a cheque book, then a postal order is the way to go.