Dealing with £39K debt

Rob5342

Www.debtcamel.co.uk has lots of information on affordability complaints. You need to complain within 6 years of the event happening or within 3 years of becoming aware you could complain. The latter is much more difficult to argue but i successfully argued it on one of my complaints. In all cases it gets harder to win as time goes on as it becomes harder to get information to back up your claim. Credit reports only go back 6 years so they might not cover the period when the event occurred, and bank statements might not be available. Complaints are always worth a try as they cost nothing, but don't pin your hopes on winning them. 

bcs7

Rob5342 said:

Www.debtcamel.co.uk has lots of information on affordability complaints. You need to complain within 6 years of the event happening or within 3 years of becoming aware you could complain. The latter is much more difficult to argue but i successfully argued it on one of my complaints. In all cases it gets harder to win as time goes on as it becomes harder to get information to back up your claim. Credit reports only go back 6 years so they might not cover the period when the event occurred, and bank statements might not be available. Complaints are always worth a try as they cost nothing, but don't pin your hopes on winning them. 

So the bank loan for example, which was taken out for about £22K in November 2018, is out of time?

sourcrates

bcs7 said:

So the bank loan for example, which was taken out for about £22K in November 2018, is out of time?

Lenders are only obligated to keep records for 6 years, so they may have destroyed records older than that.

Unless you have proof the loan/card was unaffordable, and can produce evidence to that effect, there is no way to determine whether a credit agreement was affordable to you or not.

Rob5342

bcs7 said:

Rob5342 said:

Www.debtcamel.co.uk has lots of information on affordability complaints. You need to complain within 6 years of the event happening or within 3 years of becoming aware you could complain. The latter is much more difficult to argue but i successfully argued it on one of my complaints. In all cases it gets harder to win as time goes on as it becomes harder to get information to back up your claim. Credit reports only go back 6 years so they might not cover the period when the event occurred, and bank statements might not be available. Complaints are always worth a try as they cost nothing, but don't pin your hopes on winning them. 

So the bank loan for example, which was taken out for about £22K in November 2018, is out of time?

It's possible, but unlikely, that they will uphold your complaint. If you don't and send it the the FOS then at it's over 6 years since the event occurred you would need to convince the FOS thst it's been less then three years since you became aware thst you could complain. That's possible but not always easy. In my case i had made a load of payday loan complaints the year before and they saw that and concluded that it was plausible that i had only become aware i could complain the test before.

Complaining is free and doesn't take much time so it's always worth a shot.