Are my debts statute barred?

Fozzybear73

Hi

I got into debt 20 years ago with my old bank on a loan and overdraft and agreed a repayment plan without ever defaulting on the debt.  I never defaulted on the debt payments and it never went to court at any point.

I've been paying £15 a month for 20 years on a £12k debt.  The payment has never changed and the only communication i have got for at least the last 10 years have been annual statements.

I am wondering if these debts can now be wiped and are they statute barred baring in mind there were no bailiffs or court action at any point?  And would it affect my current credit rating?  And if so, how would i got about it?

I am in debt again though can meet the payments on this current and legacy debt but would like to stop paying this one if i can.

Thanks in advance.

Jude57

Fozzybear73 said:

Hi

I got into debt 20 years ago with my old bank on a loan and overdraft and agreed a repayment plan without ever defaulting on the debt.  I never defaulted on the debt payments and it never went to court at any point.

I've been paying £15 a month for 20 years on a £12k debt.  The payment has never changed and the only communication i have got for at least the last 10 years have been annual statements.

I am wondering if these debts can now be wiped and are they statute barred baring in mind there were no bailiffs or court action at any point?  And would it affect my current credit rating?  And if so, how would i got about it?

I am in debt again though can meet the payments on this current and legacy debt but would like to stop paying this one if i can.

Thanks in advance.

Welcome to MSE.  Unfortunately this debt won't be Statute barred, as you've been making regular payments. Statute barring, in very general terms, only comes into play if a debt has been unacknowledged for at least six years. That would mean never trying to make a payment arrangement, never emailing to explain why you haven't paid and similarly admitting you owe the money. Those regular payments have acknowledged the debt so Statute barring isn't something you can rely on here.

If you have other debts, why not put together your Statement of Affairs (income, expenditure and list of debts/amounts owed) so we can see what your options are? There's a sticky at the top of this board or lemonfool has a template you can use, remember to format for MSE. Once we have the full picture, we can offer advice and suggestions to deal with everything.

Fozzybear73

Thanks for the advice.

sourcrates

I`m guessing they may struggle to find compliant paperwork now after 20 years.

You could try a request under section 77/79 consumer credit act, for a copy of your credit agreement, failure to provide renders the debt unenforceable in court.

Debt Camel explains the process and the benefits here -

Debts - why, how & when to ask for the CCA agreement · Debt Camel