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Very old debt’s & guidance on how to deal with it? (UK)

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Very long story short - 20yrs ago I bought my house and funnelled everything into renovations. After savings dried up I took out loans to finish certain aspects off. Within 9 months I’d had to give up work & eventually lost the house etc.

I was unable to pay the loans (they weren’t secured on the property) & they were handed to debt collection agencies. As I wasn’t working I was able to pay £1pm towards the debt. It was subsequently passed to various collections agencies over the years however has been with the latest for probably between 8-10. 

I’m unable to return to work as I’m a full time carer for my child & have been since having to give up work. Is there anything I can do to resolve this debt?

Thanks in advance.

Comments

  • RAS
    RAS Posts: 35,676 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    When was the last time you paid anything towards each of these debts? 

    Do any of them currently appear on your credit records (check all three)?

    There's a possibility some are statute barred, there's a possibility your token payments have extended your liability, there's a possibility some could be written off, but without more information, it's difficult to advise.
    If you've have not made a mistake, you've made nothing
  • Rudolfsmate
    Rudolfsmate Posts: 3 Newbie
    Third Anniversary First Post
    RAS said:
    When was the last time you paid anything towards each of these debts? 

    Do any of them currently appear on your credit records (check all three)?

    There's a possibility some are statute barred, there's a possibility your token payments have extended your liability, there's a possibility some could be written off, but without more information, it's difficult to advise.
    Currently still paying £1 pm to these & have been for 15+ years. Will check my credit file & get back to you. Thanks for responding.
  • ManyWays
    ManyWays Posts: 1,372 Forumite
    1,000 Posts Fifth Anniversary Name Dropper
    You are renting/ and do you have any current dents that you are paying normally? 
  • RAS
    RAS Posts: 35,676 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    OK so the debts are live and cannot be statute barred. 

    Let us know what the situation is regarding the credit records. 
    If you've have not made a mistake, you've made nothing
  • fatbelly
    fatbelly Posts: 22,996 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    We need to see the whole picture here

    https://www.lemonfool.co.uk/financecalculators/soa.php
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