Statute barred and stuff...

nebakanezer

Hi all, I'll try to keep this short, just a few questions.

So from my younger days I had built up a bit of debt from loans and credit cards, I think around 20k, I then had a back operation and fell behind with payments, then I tried an iva. A year or so in I broke my collar bone, again unable to pay as I am a self employed tradesman.

This was a few years ago and we've struggled since to get back on track and the debts kind of went ignored. Anyway I checked my credit report last night and there's only 4K to a loan that I owe. The worst one, a credit card says cleared, others have disappeared. I can't have paid much more than fees when I had the iva so it can't be anything to do with that.

I've read a bit about statute barred, is this what has happened? The one that's left says 'gone away' and the default date is June 2010, might this go statute barred as well? I know there's something about ccj's and not going sb but I can't remember if I had any ccj's? Sorry to be vague but my wife sorted a lot of it out as she had debts too.

Also is it possible to try and build up credit rating after sb debts? What's the process?

Lastly I take full responsibility for my debts and realise this is not the honest way out, yes I had credit cards thrown at me when I was 18 but I'm not of the mindset that it's all the banks fault, I just got in a situation where I could no longer manage thinks.

Any help would be hugely appreciated, thank you.

National_Debtline

Hi there,

Well the 6 year 'rule' on your credit file and the 6 year rule under the Limitations Act are 2 different things. Your credit file is a 6 year rolling document. A debt will appear on there for 6 years from the date of default/ CCJ and then it will come off (whether it is paid or not), and that may be why some of your debts are no longer showing.


But under the Limitations Act the default date is irrelevant. A debt becomes statute barred if there has been a solid 6 year block of time (since the debt fell due), with no written acknowledgement or payment to the debt and no County Court Judgement has been obtained within that 6 years. Then the debt may no longer be enforceable through the County Court.




Your IVA would have been an acknowledgement and payment to the debt, if it has been more than 6 years since your IVA then the debts may be statute barred. If you think that is the case then you can send our sample letter to any creditors that start to chase you. But, if you don't think this will apply, you will probably need to contact one of the free debt charities for more advice. Good luck,




Laura
@natdebtline

nebakanezer

Thanks so much for replying Laura, so if it doesn't show on my report, the debt may still stand? Is that what you mean that's different to statute barred?

And the credit card that now says cleared? That's got me stumped.

The iva was some time ago, maybe 6 years actually, and I don't have creditors chasing me, will a debt help service tell me which debts might be sb? Or is there any way online etc? Thanks again

nebakanezer

Also regarding astute barred scenario, I can't remember specifically which ones, if any came with ccj's, we never went to court or got summoned, is it common not to get a ccj? And again is there any way to find this out? Thanks again

nebakanezer

Sorry about some of the spelling, I am actually quite a competent speller, it's this damn phone :-)

nebakanezer

Sorry, forget about the settled account I think I might know what that is.

nebakanezer

I read somewhere that if you make part payments perhaps through a dmp, that a debt will never become sb, is that the case? And would my iva have affected that situation?

My wife seems to think we only had a ccj from one of our creditors.

fermi

A part payment by you or your authorised representative resets the 6 years statute barred clock, yes.

A payment to creditors under an IVA or DMP will do that.

nebakanezer

Ok I understand that, thanks for your reply, I just read that it never becomes statute barred? I may have read it wrong, might this mean if you keep making part payments? My iva failed around 6 years ago and I haven't paid or acknowledged any debt since.

So they may become sb? Thanks

nebakanezer

Laura, I read your post again and you mentioned of a ccj hadn't been issued within the 6 year period, does that statement count if a ccj had been issued at all, just trying to figure out all scenarios, thanks again

jonesMUFCforever

If you are paying even through a debt management plan they don't need to apply for a CCJ - that is worse case scenario when you stop/do not pay.