Urgent Help Needed !!!! *******

law26

hi everyone

really hope you can help, as feel I am at the end of the road with this situation.
A few years ago I was in a very violent relationship and I owed a house with my partner at the time - I left and was kept in witness protection until we resolved the matter. My ex was sent to prison and the house was repossed by the bank. Since I have had personal debt up to my neck which I have managed to get a grip off and pay a large consolidation loan each month, but I have the debt collectors chasing me for approx £40,000 which I can not afford to pay back. This debt is from 2 companys and from loans taken out in 2004. I cant afford to pay any of this back with the wage I am on and just feel its never ending. They are chasing me as they are aware of my parents address and telephone number and I know my ex partners is now back in prison for approx 3 years. I have not had any contact with these companies for approx 2 years they are not aware of my current address or details.
But each week send letters to my parents for me...
I would like to know how long they will chase me for this ??
what actions can be taken both against me or my parents ?
what if anything I can do to stop or resolve this?? as I can afford to pay anything back..
CAN SOMEONE PLEASE ADVISE SOMETHING ??? i have spoken in the early days to cab put had some many issues and personal debt it was a nightmare. I have also considered going bankrupt or an IVR... but am unsure??

thanks

GeorgeUK

A debt becomes statute barred if there has been no payment towards the debt for 6 years (5 in Scotland) and there has been no written acknowledgement of the debt. (Debts for property is 12 years) So first we need to know when you last made a payment towards the debt.

Is the debt with the original creditor or is a debt collection agency (DCA) now dealing with it?

If it is not your parent's debt then no action can be taken against them.
For you, one of your creditors may decide to take you to court to get the money in which case you may be required to pay a certain amount each month until the debt is fully paid off. This will probably be a county court judgement (CCJ).

jacnorm

Get intouch with CCCS or national debtline they will advise you and its free. They can try to get money off you for 6years but, many sell it on time after time and unless you get some form of help it will not go away.

law26

GeorgeUK wrote: »

A debt becomes statute barred if there has been no payment towards the debt for 6 years (5 in Scotland) and there has been no written acknowledgement of the debt. (Debts for property is 12 years) So first we need to know when you last made a payment towards the debt.

Is the debt with the original creditor or is a debt collection agency (DCA) now dealing with it?

If it is not your parent's debt then no action can be taken against them.
For you, one of your creditors may decide to take you to court to get the money in which case you may be required to pay a certain amount each month until the debt is fully paid off. This will probably be a county court judgement (CCJ).

the last time i made a payment will have been in 2004 possibly august.. so does that mean its going to be 12 years they chase me for ????
its still the orginal creditors as far as I am aware - although they have spoke about sending this to another agency ?
what is the difference between me owing the company or an agency ?
can I also ask , can they take me to court even though they dont know where I am ?
what excatly does a ccj mean for me ???
sorry as you can see totally a wreck with all this ???
thanks in advance

10past6

law26 wrote: »

the last time i made a payment will have been in 2004 possibly august.. so does that mean its going to be 12 years they chase me for ????

No, they can only chase you for 6 years - 5 in Scotland

law26 wrote: »

ts still the orginal creditors as far as I am aware - although they have spoke about sending this to another agency ?

Nothing to be concerned about

law26 wrote: »

what is the difference between me owing the company or an agency ?

No difference really, just means someone else is managing the debt.

law26 wrote: »

can I also ask , can they take me to court even though they dont know where I am ?

Yes, you can have a CCJ registered against you, without your knowledge.

law26 wrote: »

what excatly does a ccj mean for me ???

It shows on your credit report, it can make it difficult trying to obtain credit

law26 wrote: »

sorry as you can see totally a wreck with all this ???
thanks in advance

No worries, that's what were all here for.

law26

if a ccj is registered against me ? what does that mean ... will i have to go to court or pay some money back ???
what happens after 6 years ?? is this 6 years from when they started chasing or 6 from the last payment made..

thank u all for this

GeorgeUK

You had a house and this was reposessed. Do you still owe money on that property to the bank?

Do you currently have a mortgage or are you renting?

To get the full picture, it might be worth posting up a statement of affairs (SOA) so we can see what's coming in, going out and what's owed.

http://www.makesenseofcards.com/soacalc.html

10past6

law26 wrote: »

if a ccj is registered against me ? what does that mean ...

It basically means you've had financial difficullties, it show's on your credit report, when you apply for credit the company do a credit search on you.

law26 wrote: »

will i have to go to court or pay some money back ???

You can go to court to defend yourself and explain the reasons why the debt was created.

law26 wrote: »

what happens after 6 years ?? is this 6 years from when they started chasing or 6 from the last payment made.

It means the debt becomes unenforcable after 6 years - 5 in scotland, they cannot request payment from you, a debt is never written off unless paid, or the debtor dies.

law26 wrote: »

thank u all for this

You're welcome

law26

GeorgeUK wrote: »

You had a house and this was reposessed. Do you still owe money on that property to the bank?

Do you currently have a mortgage or are you renting?

To get the full picture, it might be worth posting up a statement of affairs (SOA) so we can see what's coming in, going out and what's owed.

http://www.makesenseofcards.com/soacalc.html

yes still owe approx 16000 on the house.and i also had a loan secured on the house which is till owing for approx 17000.

i am currently renting - i own nothing of value.

for everything i pay out .. I have approx 100.00 a week that i could do something with...
thanks for your help

law26

10past6 wrote: »

It basically means you've had financial difficullties, it show's on your credit report, when you apply for credit the company do a credit search on you.

You can go to court to defend yourself and explain the reasons why the debt was created.

It means the debt becomes unenforcable after 6 years - 5 in scotland, they cannot request payment from you, a debt is never written off unless paid, or the debtor dies.

You're welcome

fow long does it stay on your credit file - six years ?? - as to be honest i will never apply for credit again
i wouldnt want to go to court.. how long do ccj's last...
the debtor dies?!! great dont want to sound negative but it seems a way out..unenforcable.. sorry does that mean they cant legally chase you ??
ta

10past6

law26 wrote: »

fow long does it stay on your credit file - six years ??

Yes

law26 wrote: »

i wouldnt want to go to court.. how long do ccj's last...

6 years, not every company who applies for a CCJ against you is granted one, if you feel that a CCJ should NOT be granted, then attend court and give your reasons.

law26 wrote: »

the debtor dies?!! great dont want to sound negative but it seems a way out.

Nahhhhhhhh, they're have been many people on this board with much more debt, will the help from the members here, they've come through it, myself inclusive.

law26 wrote: »

unenforcable.. sorry does that mean they cant legally chase you ??

Yeh, that's the best part :rotfl: