Time to face reality

april87

Hi,

I'll try and put in much detail as I can here.

Starts off I went to uni in 2005 and started off good (no debt other than my student loan, no overdraft, no nothing). During my 3rd and 4th year at uni, things took a turn, I ran up a fair bit of debt inc student over draft, student credit card, a loan, store cards etc. I was diagnosed as being bipolar around the same time (not an excuse but the increased recklessness with spending amongst other things helped pinpoint the diagnosis).

I graduated in 2009, things didn't get any better, I openly admit that I stuck my head in the sand and I was going through alot.

I moved into a flat (council) and got things through Brighthouse (all paid off) before I started getting into difficulties again (I was attempting to pay it off through a trustdeed). Again I buried my head in the sand and tried to ignore it including unpaid council tax.

In the past year I have managed to get myself back to sorts, working full time and ready to finally face up to my past including my credit history. The only thing is I don't really know where to start, I got a credit report through Clear Score this morning and I don't really know what the craic with it is.

This is the key things from what I can see;

- A bit saying 4 positives inc one that says I have few.no accounts in arrears
- 2 negatives including no active credit card accounts and at least one bankruptcy? (I have not declared myself bankrupt or have no knowledge of any of my creditors asking for this to happen).
- Under a heading of court/insolvencies it has the Trust Deed - with a date of 25/6/12
- No open accounts
- Closed accounts of Brighthouse and what I'm guessing is a loan I took out with a balance of £1910.

I know I had more debt then this, but it was verging on 10 years ago. I am looking for advice on where I even begin. Yes, I know burying my head wasn't the best thing to do but in that current mind frame I was definitely not thinking clearly.

Any help/advice would be greatly appreciated.

Thanks

sourcrates

Any debt you have not paid or acknowledged in writing for any period of 5 years, assuming your in Scotland, would now be statute barred, and the debts written off.

These entries only stay on your file for 6 years, then they fall off.

A trust deed is similar to an IVA, which you have to apply and be approved for, it's a form of insolvency, you would defenetly know if you had one of these.

Did you apply for a trust deed ?

april87

Thanks for the response.

In regards to the debt that I have not acknowledged, do they just fall off? Is that like the only way I can think of saying this is disappear?

I did, I think it was back in 2012 when I started to get my life together. I do remember paying about £130 a month for a bit then lost my brother and sister in the space of a few months which sent my spiraling backwards. I have no paperwork but at the top of my head I'm sure it was to be paid over about 3 years (I've just clicked that I would be verging on debt free if I kept up payments) and my total sum of debt was in the region of around £5000-6000. Not alot to some people but still sends me in a panic seeing the figure in black & white.

sourcrates

Any debt older that six years won't now show on your credit file, the only way you can find out about them, is if the creditor contacts you, or you contact them.

Are you in Scotland ?

If so can you remember any period of 5 years or more when you didn't pay these accounts ?

april87

I am in Scotland.

Erm I don't think so, I can't be entirely sure. When I did attempt to pay things back it was through the Trust Deed. So it has probably been maybe about 3 years next month since I last paid it, as this is around the time of year my sister became critical.

sourcrates

april87 wrote: »

I am in Scotland.

Erm I don't think so, I can't be entirely sure. When I did attempt to pay things back it was through the Trust Deed. So it has probably been maybe about 3 years next month since I last paid it, as this is around the time of year my sister became critical.

Are you currently been pursued for any of these accounts ?

Or are things quiet just now ?

april87

I am not being pursued by any of them yet. I just want to get on top of it before they do.

I have to contact Scott & Co regarding a council tax debt. I thought I was up to date before I left my tenancy last year but seems that is not the case. I found out last week when they went to my mum's house looking for me. This is pretty much the thing that made me realise I need to sort this out.

sourcrates

Ok, I would sort the council tax debt as a matter of urgency, however, you seem to of been through the mill, so to speak, recently, if no one is chasing you for these unsecured debts, as it's been 3 years since your trust deed failed, I would be tempted to "let sleeping dogs lie" for now, in 2 years they will be statute barred, and written off.

If you are contacted by any of them in the meantime, then deal with it if it happens, but I would wait it out if I were you.

april87

OK, thanks for the advice. I will make it a priority to phone Scott & Co today and get that sorted. And if anyone tries to make contact I will take it as it comes.

Thanks so much for the advice.