How do I deal with old debt if I don't know how to trace it?

I have just plucked up the courage to check my credit file from Experian, Noodle, and Equifax and was surprised to find a reasonably healthy credit score from all three.

Very unexpected because between 2002 (aged 18) and 2006 I racked up rather a lot of debt which I was unable to manage at all at the time. These were from student overdrafts (one I know has been written off), store cards, catalog accounts and credit cards. I went through a period of depression which lasted years were I just shut it down and just plain didn't open the letters I was sent by debt agencies.

I want to be debt free so I can apply for a mortgage and have been having a hard time tracking these debts down. I have no paperwork and some of the businesses I owe money to have closed. I recognise that my past mistakes were not good conduct and I am genuinely not trying to get out of paying but i no longer want mistakes of the past to continue to haunt me now I'm in my 30's.

In recent years I have been saving money and can do this. The one debt agency I remember, Lowel Portfolio told me about somewhere called Cabot who apparently took at least one of my debts but they have no record of me. What can I do?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242
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    Have you checked your credit files for details of the debts?

    Make sure you check all three but do disregard the credit scores they give you, as they're made up and not a reflection of how lenders see you (or of anything else).
  • sourcrates
    sourcrates Posts: 28,717
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    edited 21 June 2018 at 11:00PM
    Hi,

    Mistakes of the past only haunt you for six years, the limitations act sees to it that creditors cannot pursue you forever.

    Anything over six years old will not appear on your credit files and if 2006 was the last time you acknowledged these accounts, they will of become statute barred more than a decade ago.

    I wouldnt worry about them to be honest, they will be long since dead and buried, if anyone were to write to you now, send the statute barred letter.
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  • fatbelly
    fatbelly Posts: 20,380
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    Sounds like there's no great barrier to you getting a mortgage.

    Should any of the old debts re-emerge, do as sourcrates says
  • kowston
    kowston Posts: 4 Newbie
    edited 26 June 2018 at 7:24PM
    Thank you for all the replies. I've taken a while to respond as I did not really know what to make of this. it is certainly not what I could have imagined. It even feels a bit wrong to be happy and relieved about this.

    I did not give the full story in my original post. Not because I was trying to hide anything but because I had forgotten some details.

    I would hate to check my credit file one day and find a default or a CCJ out of the blue.

    I'm not certain that I have not acknowledged these debts in over 6 years. I remember at least 1 case where my debt went to the solicitor department of a debt collector. I opened that letter as it looked different from the others, I panicked and called the agency but I don't know who they were. I made a payment of what I could afford at the time. I feel sure that this was about 3 - 4 years ago.

    EDIT I think this was Lowell portfolio. This agency was the one who wrote of debts, this happened around this time period.

    Similar situations have happened with the other debts with communication dotted throughout the time frame but always several years apart.

    In this case, have I kept this debt alive and if so how would I find out for sure?
  • Also yes I have checked my credit files for the details but there is absolutely nothing.
  • fatbelly
    fatbelly Posts: 20,380
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    Look if they want money, they'll find you and write to you. You are not hiding - all the information about your addresses is on your credit record with all three agencies.

    If you want a house, concentrate on building a deposit. It sounds like your credit history is clear.

    A statute barred letter should still be your reaction if any of them do re-emerge but if they can prove it's not statute barred then having a lump sum available will allow you to do a settlement deal if you have to.
  • Thank you fatbelly. I guess it's just a mindset I got into.

    Your final bit of advice there was very good because your right I do have that lump sum if all else fails!
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