Credit Card Debt - More than 6 years old

satzo

Hi All
I have 3 x credit cards all with debt collectors and paying a very small percentage each month and no interest. I've been paying for well over 6 years and these no longer show on my credit file.
Can the debt be written off now?
Thanks in advance

[Deleted User]

If you hadn't been paying the debt, and and the defaults have now dropped off your credit file then they would be statute barred and they wouldn't be able to take you to court for them.

But as you have been paying them I'm not sure. An expert will be along to answer that I'm sure. Me personally I would just stop paying them if the defaults have dropped off the credit files.

Willing2Learn

satzo wrote: »

Hi All
I have 3 x credit cards all with debt collectors and paying a very small percentage each month and no interest. I've been paying for well over 6 years and these no longer show on my credit file.
Can the debt be written off now?

No. The debts all still exist. If you were to stop paying, then your creditors could potentially seek enforcement.

If it were me, seeing how the debts are old, I would submit CCA requests to your three creditors. Then if your creditors are not able to provide you with compliant paperwork, the applicable account would no longer be enforceable. If any account was unenforceable due to non-compliant paperwork, then you could choose not to pay or you could choose to offer a low settlement figure.

https://debtcamel.co.uk/settlements-old-debts-cca/

sourcrates

Hi,


What makes you think you are no longer liable to pay these debts ?


Just because an account you have been paying falls off your credit file, does not mean the debt suddenly and mysteriously vanishes, it does not, you will be liable for it until your dying day, or until its paid off, whichever is the sooner.

The only exception is if no payments or written acknowledgment has been made for any period of 6 years, and no legal action has been taken, under those circumstances the Limitations act 1980 kicks in, meaning legal action can no longer be taken to recover the debt.

This legislation does not apply to your case as you admit to making recent payments, each new payment re-starts the limitations clock.

So, the answer is no, the debt cannot just be "written off".


Edit : cross posted with W2L, CCA request is good advice.

satzo

I didn't think I would no longer be liable - I was enquiring as to what the situation is. Thank you for the information.