Several old debts defaulted for almost 6 years

Fay_elizabeth

Hi All,

I have 5 debts on my credit report all from 2011-2013, all defaulted. 4 Credit cards and 1 loan.

3 of them I have paying off at between £5-£20 a month. Now I know they become statute barred after 6 years, however does that not apply if I am paying them? Also is the SB status from the date of default, or the date of account opening?

Wondering if my best course of action is to carry on paying in dribbles. They have sent me a few offers of lower amounts to close the accounts.

[Deleted User]

They won't become statute barred while you are paying them.

It would be best to pay in larger dribbles.

Fay_elizabeth

Thanks zx81, unfortunately that isn't an option for me, I'm a SAHM so limited funds.

poppasmurf_bewdley

Statute barred runs from when the debt becomes due, ie usually the date of the first missed payment.

If you've been making payments, then they cannot become statute barred.

You may be better making a CCA request and see if that works.
https://forums.moneysavingexpert.com/discussion/709639/cca-letter-template

Fay_elizabeth

Thanks very much poppasmurf. Could you give me any more info on this, what could be achieved?

Thank you

poppasmurf_bewdley

Applying for a CCA is a check on whether those chasing you for money hold the correct documentation.

Those with debts going further back are more likely to succeed that those with later debts.

http://webarchive.nationalarchives.gov.uk/20140402180203/http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/OFT1266.pdf

or just Google CCA request.

Fay_elizabeth

Ah ok. So I already know all the details of who I owe and how much, was just wondering if I could let any 'drop off' shortly, but seems not as I have been paying them. Ah well.

Willing2Learn

Fay_elizabeth wrote: »

Ah ok. So I already know all the details of who I owe and how much, was just wondering if I could let any 'drop off' shortly, but seems not as I have been paying them. Ah well.

The debts will drop off your credit files six years from the date of default. You could offer them all Full & Final settlements...of say 10% of the balance. See what they say...