15 year old debt questions.

mikeythepikey1

Please firstly let me apologise if I have posted to the wrong section I am new to this forum.

To cut a long story short I took out a loan for a previous partner a few years ago (idiot I know) just under £2000 was owed.  

This partner left not long after and left me in a bit of a mess. I did pay almost £6000 of joint debts we had off but I was still left with this £2000 debt. 

It was taken out at my previous address in 2008. Not long after I left this address and have since moved 4 times. 

Fast forward to 2023 I get a letter from a company called CAPQUEST at my current address saying they have now basically bought the old debt and are chasing it. 

I'm really looking for some advice I've heard terms like statute barred whereas if you haven't heard from a creditor for 6 years it changes the circumstances or something but I'm really not experienced in this kind of thing.

I am a single father working full time if I have to I will pay the debt via a payment plan but if there's anything I can get done to help me wipe or reduce the debt I would love to know as I really struggle to live day by day as it is. 


Any help or advice would be massively appreciated as I'm terrified that bailiffs are going to turn up and take my things and my kids things. 

Thanks in advance

MorningcoffeeIV

When was the last time you acknowledged the debt?

What, if anything, appears on your credit files for this debt?

mikeythepikey1

Hi mate the last time I made contact with them would have been around 2008. 

And there is nothing on my credit file for this debt. The only ccj I had was a parking fine and I cleared this a few years ago.

Thanks for your reply. Very much appreciated 

MorningcoffeeIV

Sounds statute barred in the case, so I'd just let them know that.

mikeythepikey1

Thanks il look into that further I appreciate your help massively 

fatbelly

If there was any doubt about what this is, I'd send a prove-it.

But as you seem to know it's yours and there has been 15 (!) years since you acknowledged it, you should be able to put this one to bed with a letter from the debt-free wannabe board.

https://forums.moneysavingexpert.com/discussion/6027755/statute-barred-debts-and-the-limitation-act

If you don't actually know the default date (probably lost in the mists of time) just delete that paragraph

sourcrates

Creditors have 6 years from date of default usually, to chase up bad debts, or to take legal action.

As its been much longer than that in your case, go straight in with the statute barred letter.

A lot of old statute barred debts are being chased just now, as an impending change in the law will prohibit such actions from August 1st.