The 6 Year Rule !!

Angel105

Hi im new to this site, but think its fantastic... i have many questions but i will try and put each one in the right place and not bombard all in one and confuse myself and others lol

Right...

The six year rule....

Is it correct that once there has been no contact from myself in six years that the debt is written off?

Is it correct that if the original company sell the debt on, that the six year rule starts again and again depending how often it is sold on.

I know i have had a lot of debt in the past (inc lots older than 6 years or coming up to 6 years) and im a little scared to do my credit file incase im bombarded and i cant deal with it all.

I sound like a bit of a wimp, but it scares the hell out of me, ive not long moved house and i am keeping on top of my current bills and looking to sort my past, but would prefer to do it in my own time and not feel scared when someone knocks at my front door or when a strange car pulls up in the street!

PLEASE HELP X

fermi

Angel105 wrote: »

The six year rule....

Is it correct that once there has been no contact from myself in six years that the debt is written off?

No, they are not technically "written off".

However, if you have not acknowledged the debt in writing or by payment for a period of six years then the debt becomes 'Statute Barred'. The debt is still owed, but the creditor is no longer able to pursue it through the courts.

And the OFT considers that if a debtor states to a creditor that a debt is 'Statute Barred', then continued pursuit or requests for payment may constitute 'unfair practice' or even 'harassment'.

Is it correct that if the original company sell the debt on, that the six year rule starts again and again depending how often it is sold on.

No. Selling the debt on is irrelevant.

I know i have had a lot of debt in the past (inc lots older than 6 years or coming up to 6 years) and im a little scared to do my credit file incase im bombarded and i cant deal with it all.

A full factsheet on Statute Barred debts is here:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act

It includes a letter to write if you believe a debt is 'Statute Barred'.

If you are in any doubt then please call National Debtline for advice, or any of the other organisations in my signature.

Angel105

OK....

so does it disapear from my credit file, after the 6 years or does it remain?
and
does that mean that i would not have to pay the debt?
or
would i have to write to them if they contact me asking them / telling them that the debt is statute barred and get a reply from them stating that it is?

im confused!! sorry if i sound stupid.

Angel105

Is there any way of looking at my credit file without opening the floodgates of hell!? lol

Angel105

sorry for being sparatic lol

just reading the Factsheet | Liability for Debts and the Limitation Act and was just wondering if the statute barred rule also exists if the creditor has already obtained a judgment against you

GeorgeUK

To look at your credit history (free), got to the experian website.

Hopefully this thread will shed some light on it for you.
http://forums.moneysavingexpert.com/showthread.html?t=578486

Sorry this is rushed - will check back later, boss is prowling

Angel105

But will applying for my credit file and putting my current address in open the flood gates?

Do they then put that address on my file so that if any one is looking for me can get that information?

like i said i want to deal with my debt just when i wish to deal with it(one at a time!), not bullied into it

GeorgeUK

I've no idea.

I would have thought that your bank etc already knew where you lived. Is it not part of the T&C to keep them informed?

Can't remember what the process is, but if in doubt, you could phone experian and ask if your current address will be made available as you are in the process of moving again.

Are you on the electoral roll? Can they not find you through that too?

Sorry it's not much help.
George

TAG

Angel105 wrote: »

OK....

so does it disapear from my credit file, after the 6 years or does it remain?
and
does that mean that i would not have to pay the debt?
or
would i have to write to them if they contact me asking them / telling them that the debt is statute barred and get a reply from them stating that it is?

im confused!! sorry if i sound stupid.

A default or CCJ will 'drop off' your credit file 6 years from the date the default or judgement was issued/made. Regardless of whether the debt has been paid or not.

If you are being chased for a statute barred default refer to the link given above by fermi.

Now as for if a CCJ can be statute barred that is a different matter.

A CCJ will also drop off your credit file after 6 years whether it is paid or not. However, a CCJ can also be re registered. Though it is rare and unlikley that this would happen.

I was on another forum a while ago. But because my pc crashed big time I've lost the link to it. There is one somewhere in amongest the threads on the DFW board but it'll take a while to find it. I will try as I am interested in the outcome of a discussion that was on there.

Basically someone had directly asked the people that register CCJ's (can't remember the correct name for now, it's something registry I think) if a CCJ can be statute barred. A reply had been received but it was still a greyish area and need to be clarified more.

The general rule of thumb is......if they ain't chasing you then let sleeping dogs lie.

If you are on the electrol roll then you are likley to create a link from your old address to the new one. If you have any credit agreements in place at the moment then that could also link your addresses. I'm not 100% sure on how links are created.

I hope that helps a bit.

Angel105

I have actually got the balls together now to check my credit report

I have posted some questions last week about my credit report but got no response

I have another one lol, hopefully i will get a response this time.

Can you offer a full and final settlement to a company that has a CCJ against you?

Would this do anything to a payment plan the courts have already agreed and that i have been paying for a about 12 months now?

Angel105

Oooops sorry

I also want to know the following

I have in account information, an account that has nothing in the status column.... that its HP ... and the following...

Started: 25/10/2001
Current Balance:£1,754Repayment Period: Monthly Payment: £81 over 37 months Settled On:30/05/2003File Updated for the Period to:01/06/2003
What i am confused about is that it has a settled date, yet also an outstanding amount.

But looking at the dates, will this be cleared off the account due to statute barred next week ?