Am I still in debt???

R.B.

When I was 18 and still living with my parents I stupidly got myself into alot of debt - about £5,000. I have since moved to 3 different addresses, spent time in the millitary and now live and a different city (still in scotland). I have never paid a penny to any of my debtors nor have I sent any letters, not one!
Am I still in debt?

debrag

if it's older that 5 years then no. Sounds like you ran from your debt.

tigerfeet2006

How long ago was this. If it is 6 years since you last acknowledged the debt then it is statute barred.

EDIT: DEBRAG IT IS 5 YEARS IN sCOTLAND. eek! sorry caps!!

debrag

5 years for scotland isn't it?

tigerfeet2006

Thanks debrag I have just noticed the OP is scottish Must look more closely

debrag

I though 6 at first til a re-read the post

tigerfeet2006

My only excuse is I need new glasses

R.B.

so will these debts still be showing on my credit report??

R.B.

p.s. I am 24 now so its a little over 6 years ago

R.B.

debrag wrote: »

. Sounds like you ran from your debt.

I wouldnt say I ran, I just carried on with my life and ignored it.

fermi

Are you still in debt?

Legally yes.

But as others have suggested, if the original debts were taken out while you were in Scotland and you have not acknowledged or paid towards them and no 'decree' has been obtained by your creditors, then the "Prescription & Limitation (Scotland) Act 1973" may have come into force after 5 years.

Have a good read through the link below that will help you decide if it applies to you:

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act

The debt is not "written off" if it is "Barred", but creditors are no longer able to take legal action against you.

The debts may still be on your Credit Reference Files if any 'defaults' issued regarding the accounts were registered less than 6 years ago.

If in doubt, call National Debtline who have plenty of experience in advising on these matters.