How do i find my debt?

Freeland

Hi,

at the moment i am paying off two debts that were incurred from my student days. Although i am aware that there should be 2 more, but i never heard from them and i will be honest i put my head in the sand and didnt try to find them....well things have changed and i want to sort my debt out once and for all!

What is the best way to find out what debts i owe and to whom, and especially which ones are affecting my credit.

Is it true some companies do wipe debts after a certain amount of time?

Thanx in advance!

Debt_Free_Chick

First off get your credit file and see what's on there

madmoney_2

make sure you cancel your membership on the credit reports before the free trials end!

Freeland

Went on Experian site....gonna send of the £2 and form as i have had quite a few changes of address over the years what with Uni etc, so hopefully i will be able to find exactly whats on there.

Last time i had it years ago it only had one credit card on there....i am guessing that more will be on there now.....

What should i do if there is more on there? contact the companies direct? If something is not on there does that mean it has been wiped? Thanx for all the help!

rog2

Freeland wrote: »

Although i am aware that there should be 2 more, but i never heard from them and i will be honest i put my head in the sand and didnt try to find them....well things have changed and i want to sort my debt out once and for all!

Is it true some companies do wipe debts after a certain amount of time?

Thanx in advance!

How long is it since your 'student days', Freeland?

Whilst it IS true that SOME companies will 'write off' debts, these companies are in the minority and most companies will allow old debts to 'migrate' to the murky world of debt collection agencies, some of whom will 'purchase' old debts for a fraction of their original value.
However, it IS worth noting that if you have made no payment to, nor acknowledged in writing, the debt for a minimum period of six years (five in Scotland) these debts (with certain exceptions) fall under the umbrella of the Limitations Act 1980 and will be 'statute barred'.
This means that, once you have informed the creditor/dca that you will not pay them, as they are statute barred (the ONLY reason you need) then they can no longer pursue you for payment.

debt_doctor

Rog2 has good advice.If YOU have not made written contact with them, or made a payment to them for 6 years or more, then that debt is unenforceable. Them writing to your old address etc does not count.

Best wishes

Freeland

Thank you for the advice!

I finished Uni in 2004, but i beleiev that the debts i am talking about will be from my first year in 2001. My credit rating went down very quickly after that. So doubt they will have been written off....am i right in my thinking that all this will be on my credit file, and if something is not on there should i contact the company myself?

I am going to send for my credit file and find out exactly what is owing and then make plans to get it all sorted!

Thank you again!

debt_doctor

Your credit file information is held for 6 years, so you will be viewing all info gathered on you during that period.

If the debts are not on there - GREAT !

Best wishes

Dr_Hook

Make sure get your credit file from Equifax & Call Credit too - not all creditors use all 3 Credit Reference Agencies.