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CREDSEC Help!!!
cirrus1007
Posts: 29 Forumite
10 years ago I defaulted on a Lloyds loan and CREDSEC took over. We came to an agreement of £60 a month with interest frozen. 10 years onI am still paying month on month and need to know if there is anything I can do to stop paying- this long into the agreement? I have heard that after a number of years the recovery company cannot reclaim the money if you simply stop paying. Help please:o
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Comments
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Cirrus the statute barred rule only comes into play if you have not acknowledged (made a payments against) the loan for six years. You could ask Credsec how much you owe and make a final settlement (less than the amount) if you have it available.
Good luck.
Cat.xDFW Nerd Club #545 Dealing With Our Debt
never attribute anything to malice which can be adequately explained by stupidity, [paranoia or ignorance] - ZTD&[cat]
the thing about unwritten laws is that everyone has to agree to them before they can work - *louise*
March GC £113.53 / £3250 -
Thanks Cat - I have spoken to them and they gave me a figure but it is more than I can afford at present and I just wondered if there was a loophole to exploit on this.0
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Cirrus,
You could always offer them a full and final settlement based on what you can afford - they can either say yes or no!
Cat.xDFW Nerd Club #545 Dealing With Our Debtnever attribute anything to malice which can be adequately explained by stupidity, [paranoia or ignorance] - ZTD&[cat]
the thing about unwritten laws is that everyone has to agree to them before they can work - *louise*
March GC £113.53 / £3250
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