Debt sold to external companies

Goldendolphin

Many years ago I dealt with Stepchange and had several credit cards who sold debts to external companies.  This is probably 10-20 or more years ago. 

Some of these companies have then sold the debt to other companies since. 

Some of the debts I don't know about, for example around 20 years ago I was told I had had an RBS Student account I was in debt with I knew nothing about (which I argued I'd never had one but they kept saying I had)  so ended up paying off this debt, its currently at around £800.

I'm paying £1 a month on all these debts.  

none of them are over £2000. Most under that. 

There's a few others, some I know what they are from and some I have no clue. 

My question is, after all these years, and having been sold on and then sold on again, do I have to keep paying these things?

They're not on my credit report obviously.

Often I'm dealing with a company and don't always know what the debt is from.

Can I do anything to stop paying?  I can't afford to pay a settlement figure and to keep paying £1 a month just seems stupid especially when they're not affecting my credit in any way. 

fatbelly

Token offers can be a good short-term solution but not over 20 years.

It's a shame that you don't have a lump sum available or I would have said to stop paying and try settlement deals with any who could evidence their position.

If you meet the criteria for a Debt Relief Order, which did not exist 20 years ago, that might be most effective but would put a fresh mark on your file.

sourcrates

Hi,

Paying debts you are not sure are even yours is not the best use of your money.

Legally, as you have been paying these accounts, they will never go statute barred, however there are things you can do to improve your situation

OK, your plan is this, stop paying all of these non essential debts, that will trigger whoever is the beneficiary of these payments to write to you.

You will then know who owns what etc.

Your next move depends on what type of debt it is, if its a credit card/loan or any other account regulated by the consumer credit act, you send them what`s known as a "CCA Request".

This is you exercising your rights under sec 77/79 CCA , failure to prove the debt and supply a copy of the original credit agreement renders the debt unenforceable, so you could just stop paying.

Template letter here-

CCA Request Letter Example - LegalBeagles

Any other debt that is not CCA regulated, you can send a "PROVIT letter" (click the link in my signature).

The same result is achieved for non compliance.

That is your first strategy, another route should that fail would be to write to your creditors and ask them to write off the debts as they will never be repaid and your circumstances are unlikely to change.