We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
A bit of help/advice please
TheRealHoonigan
Posts: 3 Newbie
Hi there - new to the forum..
I have debts dating back to 2005, totalling approx £20k.
I have not been in contact with the bulk of the creditors since at the time I didn't have means to make any arrangements. Anyway, I'm now trying to improve my credit score so that I can apply for a mortgage now and discover that none of these old debts are listed on credit reference agencies. I also have limited information on old debts.
Would it actually make any positive difference to getting a mortgage to pay these old debts off? I have looked at credit building credit cards but have been declined thus far. Any advice would be greatly appreciated.
I have debts dating back to 2005, totalling approx £20k.
I have not been in contact with the bulk of the creditors since at the time I didn't have means to make any arrangements. Anyway, I'm now trying to improve my credit score so that I can apply for a mortgage now and discover that none of these old debts are listed on credit reference agencies. I also have limited information on old debts.
Would it actually make any positive difference to getting a mortgage to pay these old debts off? I have looked at credit building credit cards but have been declined thus far. Any advice would be greatly appreciated.
0
Comments
-
Not a jot as the chances are they are all statute barred by know.
Are you not aware of the Limitations act 1980 ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Hi
Just to expand on Sourcrates post, debts which haven't been acknowledged (payments etc) for 6 years become statute barred and are not enforceable. They should not be showing on your credit file now.
Do you do noddle (it's a free credit reference agency, sign up on line) and check your file.
Interested why you are being refused credit builder though, what is showing up on your file or did you apply to cards with companies you've had debts with?
SazDebt -it's a fight that I'm winning, dealing with debt one day at a time.
Estimated DFD August 2018 - 2031 - now 2027 :T
Guide dog Tess, missing Scotland 2 years
DMP support no438.0 -
Thanks both, I've had a proper read around the limitations act now.
I do have 997 outstanding from recent (mature) student debt, I can only hope that is the current spanner in the works.
I'm actually using Experience and Equifax right now, though I'm about to cancel one of them.0 -
TheRealHoonigan wrote: »I'm actually using Experience and Equifax right now, though I'm about to cancel one of them.
Hi
Just for future reference, you can get a statutory copy of your credit file from each of the agencies for £2. You don’t need to pay for their subscription plans. You always check Noddle (Call Credit) and Clearscore (Equifax) for free too.
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Just for future reference, if you were to be contacted about one of your old debts, you should respond in writing stating the account is statute barred.
There are numerous template letters available from various sources for this purpose.
Also the onus of proof is on them, not you.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Again, thank you very much. I'll clear my current defaults, and look to see what happens.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards