Debt write off?

jamesd

No automatic write off but creditors will sometimes consider offers to pay a reduced amount to settle the debt, just to remove their uncertainty and ongoing costs. If it's true you might write that "an acquaintance has offered to fund 50% payments in full and final settlements of any debts where the creditors choose to accept the offer" and see whether they bite or come back with a counter-offer.

Primrose82

The main reason debts are written off is because there have been no payments or acknowledgements of the debt for 6 years - is it possible this is what your boyfriend has heard of ?

Clive_Woody

Shame as it would be rather nice if they would write-off my mortgage and maybe even give me some of the money back...I've been paying it for ages and could easily find another way to blow that money each month.....

w00519772

hannah01 wrote: »

Hi, I was wondering if anyone had their debts written off after so many years and if so how? Also did anyone get any money back?

You should think about your credit rating, which will be affected if you do not pay off the debt.

musafir05

If you haven't made a single payment towards the debt for 6 years then by law the debt is statute barred. If the debt has been passed to a debt collection agency then go to getoutofdebt forum and try the 3 letter approach.

Clive_Woody

musafir05 wrote: »

If you haven't made a single payment towards the debt for 6 years then by law the debt is statute barred. If the debt has been passed to a debt collection agency then go to getoutofdebt forum and try the 3 letter approach.

Seeing as she already said that the last payment was made 1 month ago and the next payment was coming out today the statute barred route is some way off...

[Deleted User]

Clive_Woody wrote: »

Seeing as she already said that the last payment was made 1 month ago and the next payment was coming out today the statute barred route is some way off...

Only another 6 years to go.

musafir05

Clive_Woody wrote: »

Seeing as she already said that the last payment was made 1 month ago and the next payment was coming out today the statute barred route is some way off...

I read the remaining messages finally on a computer and I can confirm statute method is unlikely to work. My mistake!

musafir05

Take your case to the getoutofdebt forum and they will advice you further on the 3 letter approach.

tomtontom

musafir05 wrote: »

Take your case to the getoutofdebt forum and they will advice you further on the 3 letter approach.

Or simply repay what you owe?