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Old debt and buying a house
Wallsy01
Posts: 4 Newbie
Hi guys
I am am very deep into the process of buying a house i am on the last couple of solicitor enquires that need to be met no contracts have been exchanged yet or deposit money passed over my question is.i am 38 and my wife is 35 when i was in my early 20’s about 21/22 my father committed fraud against me i guess you would call it,he basically stole my credit card and spend large sums of money and then was ringing up to increase the credit limit and was hiding all my post i did not even notice the card was missing until it was to late when i did realise he explained how sorry he was etc etc and could i get a loan to pay it of and he was waiting for a loan consolidation to come then he would pay everything of and all would be well in the world sadly this was not the case and it turned out he was a gambling addict and totally messed up so he arranged to pay of the loans he racked up against me monthly at 50 pound a month now from my vague memory of it it was about 14/15 k naturally the relationship between us all broke down a lot to say the least we still talk but are not close i have just found out he stopped paying the debt of 9 years ago i have no idea where this debt is as it is not on my credit file and according to him was passed on to numerous debt collection agencies as i have grown up I've moved house many times got kids etc etc so what should i do do i pull out of the house and chase the debt up? please try not to judge me i was young and naive i mean who really expects there father to do this
I am am very deep into the process of buying a house i am on the last couple of solicitor enquires that need to be met no contracts have been exchanged yet or deposit money passed over my question is.i am 38 and my wife is 35 when i was in my early 20’s about 21/22 my father committed fraud against me i guess you would call it,he basically stole my credit card and spend large sums of money and then was ringing up to increase the credit limit and was hiding all my post i did not even notice the card was missing until it was to late when i did realise he explained how sorry he was etc etc and could i get a loan to pay it of and he was waiting for a loan consolidation to come then he would pay everything of and all would be well in the world sadly this was not the case and it turned out he was a gambling addict and totally messed up so he arranged to pay of the loans he racked up against me monthly at 50 pound a month now from my vague memory of it it was about 14/15 k naturally the relationship between us all broke down a lot to say the least we still talk but are not close i have just found out he stopped paying the debt of 9 years ago i have no idea where this debt is as it is not on my credit file and according to him was passed on to numerous debt collection agencies as i have grown up I've moved house many times got kids etc etc so what should i do do i pull out of the house and chase the debt up? please try not to judge me i was young and naive i mean who really expects there father to do this
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Comments
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The first thing to do would be to check all 3 credit agencies to see if any record of the debt still exists.
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Hi slithery it is not on any of the credit agencies i have a very very god credit score with no debt at all0
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In which case the debt is probably 'statute barred' and you no longer have to pay it. Lenders won't have any knowledge of it either so I'd just forget about it and continue with your purchase.
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That is what i was thinking to thankyou0
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I'm so sorry that happened to you. It sounds like you are in the clear if it's not recorded on your credit report. Has your mortgage lender already approved you/ completed a credit check? If so I would imagine it would have come up during that process if it was going to come up at all.0
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Hi tryingmybest99 it still haunts me now everything that happened it was not something i wish on anyone. Yes all checks were done around December we are just awaiting 2 more enquires to satisfy my solicitor all draft contracts have been signed upon enquires being met it will be exchange time as we are both chain free0
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