Old Debts & CCJ's

Rexee

Hi All

I need some advice on some old debts.

In around 2003 at the age of 20 years old I was offered a loan and credit card by Egg; the loan being for £8000 and the credit card having a £1500 limit. At that age i was earning 16k pa and very young and irresponsible, needless to say i got myself into financial difficulties. I defaulted on these payments and the debts were sold on to various DCA's. I contacted a company named Spectrum Finance who paid each of my creditors a token payment of £1 per month and they charged a fee of around £30 per month for the benefit.

In around 2008 I stopped paying Spectrum Finance as i couldn't see any benefit in doing so and therefore stopped paying the creditors. I was chased with letters for a while and chose to ignore them as i basically panicked, buried my head in the sand and had no idea how i would pay them; as i'm sure many of you on here will understand (you just hope they will disappear). I was a young lad and should never have been lent that amount of money and although i was irresponsible, i think Egg should have been more responsible too! These debts have always niggled at me and always bothered me, however i just didn't know how or where to start dealing with them.

Basically, in 2014 i was issued a CCJ for the credit card (now at £1639) and in 2016 a CCJ for the loan (now at £12093).

My questions are:
1. There have been no payments made or acknowledgment of debt since cancelling the DMP in 2008, should the 2016 CCJ have been issued or was the debt statute barred? If so, where do i go from here?
2. If i contact the DCA and try to negotiate a FAF will this trigger the 6 years again?

I have now settled down and have a partner and a baby and would like to have a mortgage in the next couple of years. Any advice would be much appreciated, before any of you say; i am well aware i have ignored these debts and hoped they would go away - I have been scared to own up to them for years.

Thanks and Regards

sourcrates

Hi,


Its likley the 2016 CCJ was made on a statute barred debt, did you not defend the claim on that basis at the time ?


Obtaining a setaside might be possible now, but will cost you £255.


once legal action has been taken the limitations act no longer applies