old debt where do I stand?

MNM2903

Okay so last year I looked at my credit file from call credit, exuifax and experian. I satisfied all outstanding debt on there.

I used to have a lloyds account which went over drawn by approx £6 and I was charged £25 a day at the time or something around that to a max of about £150 per month. This was around 8 years ago. I refused to pay this as I found it ridicolous to charge that much. That aside the account eventually defaults with a balance of £1006 this doesn't show on my file due to it being over 6 ears old.

I've not heard from them in a long time until today when I got a letter from lowell trying to recover the debt and said I can clear the balance by paying 75% of it around £250.

My question is do I pay it? Can it have a negative effect on my file or can they take it any futher now or can I just ignore it? I've paid of thousands the last 2 years so that I can get my credit healthy and I've turned a corner and manage my finance alot better and feel a bit bitter about paying even £250 of this for a £6 overdraft.

Thanks

33days

Well if it's over 6 years without the usual acknowledgment and or payment it can't be legally enforced, if it is over this send them a letter stating this fact... To little to late

[Deleted User]

Ring the debt collector up and tell them is statues barred! they can't touch you or any of your money but they can ask for it. You credit record will not be touch. I had simlier problem they caught up with me 12 years later told lowell it statues barred and they then sold debt on to another company.. who i then told them the same and they sent a letter to say the account is closed. When statues barred all they can do is ask for the money.. that all... so have a drink and not worry

MNM2903

I'll do this now. I'll send them a letter. Thanks for the advice.

National_Debtline

Hi

You might find our Time Limits factsheet useful. It includes a template letter to send to a creditor or debt collector informing them the debt is statute barred. This is the England and Wales version:

www.nationaldebtline.org/EW/factsheets/Pages/25%20EW%20Time%20limits%20for%20recovering%20debts/Default.aspx

James
@natdebtline

MNM2903

Thanks for all of this. Sent the letter and got a quick reply they have closed the account

Thrugelmir

Don't apply to Lloyds for any finance products anytime soon.

MNM2903

I recently opened a cash account with them. That was about 5 month ago ha.