Oakam Loan become SB

igorjenz

Hello,
I'm looking for advice about my Oakam Loan, which I took back in June/2011.
On my credit file it keeps updating with the 715 pounds I owe to them, as I changed my addresses couple of times since that date, I haven't received any correspondence from them.
Never paid even a penny to them, had some bad times that days.
However the default date is set on 02/02/2012.
I just wonder is the loan already SB or I should wait until February?
The only time I was get in touch with them, was back in September 2012, and I haven't acknowledged the loan itself, just told that I'm not willing to pay, as I'm leaving the country, and that I don't know nothing about this loan at all.
Also had a request to remove it from the credit file, due to unknown lender some years ago.
Haven't wrote to them any letters and haven't received any letters from them.

From my research, only written acknowledgement resets the clock, so it means that I have to post a letter to them, asking about my loan and about my payments.

Any advices?

Thanks for reading.

StopIt

You can write to them without acknowledging the debt.


Is the loan still showing on your credit files with the original creditor or has a DCA taken over?


If the latter, they may well try to seek a CCJ up until Feb 2018, and if you haven't changed the address, they can get a CCJ in default. It may be worth sending the DCA https://www.nationaldebtline.org/EW/sampleletters/Pages/Time-has-run-out-to-recover-the-debt-(sole-name).aspx


Note, this letter does not reset the statute barred clock if the debt is not yet statute barred.


If not, it may well be just be given up upon.

igorjenz

It still shows the original creditor, so it still with them.
As I understood, the SB is from the first missed payment, and not from the default date, or I'am wrong?
The strange thing, that I have a lot of different credit accounts, and I live on one place for last four years, and still haven't heard anything from them.
I can wait until February, I don't mind, just trying to figure out, how it works.

StopIt

igorjenz wrote: »

It still shows the original creditor, so it still with them.
As I understood, the SB is from the first missed payment, and not from the default date, or I'am wrong?
The strange thing, that I have a lot of different credit accounts, and I live on one place for last four years, and still haven't heard anything from them.
I can wait until February, I don't mind, just trying to figure out, how it works.

It is from the last payment or written admission that the debt is live, valid and yours.


However, in this case, it looks like the creditor has given up, but keep an eye on things just the same. If you get anything through, keep that letter I linked in reserve.

igorjenz

No payments has been made, since the start of the loan, so I suggest that it is already SB, but I will wait for another couple of months, so they will not be able to reset the clock.

I wonder is the email is written acknowledgement, or it doesn't count as well.

Honestly, I can pay 715 pounds, but I think they will ask for much more, and the initial loan was for 200 pounds I think, and I don't have anything from them, I don't even know the account number.

sourcrates

If the loan was taken in June 2011, and no payments were made, then it will be statute barred already.

But i would not do anything in haste, why exactly do you want to write to them ?

If you were to be contacted, now or in the future, you would write back stating its statute barred, no further input from you is necessary.

All this is assuming a CCJ has not been obtained already, have you checked your credit file recently ?

igorjenz

Just want to make sure that it is SB, as I'm looking for a mortgage right now, and I don't want to have problems with this debt in future.

I'm checking my credit report once a month, and there is no CCJ, it still in the same condition as it was in 2012, with the same balance, nothing changes from month to month.

fatbelly

The entry will drop off in Feb 2018, regardless of what you do. Nothing will change that.

Only a court can declare something statute barred and we won't know that until they start court action. Even if defended, there are cases where the judge has been persuaded to use the default date as the cause of action, wrongly in my opinion.

I agree that the best thing for you to do is nothing.