Wishfull's UE Diary

[SA Gold]

Re: wishfullthinkings UE Diary

Those discount letters are designed to tempt you into acknowledging the debt and resetting the SB clock!

I didn't think this was possible? I thought the SB was six years from the default notice.

[Deepie]

Re: wishfullthinkings UE Diary

I didn't think this was possible? I thought the SB was six years from the default notice.

What is statute barred debt?

Statute barred debt is debt which in certain circumstances becomes unenforceable in court. The piece of legislation which sets out these circumstances is the Limitations Act 1980. So when a creditor comes chasing you for an old debt you can use the following information to access whether or not your debt is time barred.
How long can a creditor chase a debt?

This is dependent on the type of debt you have. The most common form of debt which people ask about in our forum is unsecured debts eg credit cards, personal loans, store cards, catalogues, bank loans, finance company loans etc. The Limitations Act 1980 states that when the following conditions are met then the debt cannot be pursue through the courts.


The conditions are:-

• That the creditor has not taken court action against you, eg CCJ, AND
• You have not made any payments on the debt over the last 6 years,AND
• During the years, you haven't written to the creditor acknowledging that owe them money.

As you can see all three conditions must be met in order for the debt to be "time barred". So the answer to the above question is 6 years.

[Never-In-Doubt]

Re: wishfullthinkings UE Diary

Here ---> MS storecards turned credit cards - Page 9 - allaboutFORUMS

Explained

[SA Gold]

Re: wishfullthinkings UE Diary

What is statute barred debt?

Statute barred debt is debt which in certain circumstances becomes unenforceable in court. The piece of legislation which sets out these circumstances is the Limitations Act 1980. So when a creditor comes chasing you for an old debt you can use the following information to access whether or not your debt is time barred.
How long can a creditor chase a debt?

This is dependent on the type of debt you have. The most common form of debt which people ask about in our forum is unsecured debts eg credit cards, personal loans, store cards, catalogues, bank loans, finance company loans etc. The Limitations Act 1980 states that when the following conditions are met then the debt cannot be pursue through the courts.


The conditions are:-

• That the creditor has not taken court action against you, eg CCJ, AND
• You have not made any payments on the debt over the last 6 years,AND
• During the years, you haven't written to the creditor acknowledging that owe them money.

As you can see all three conditions must be met in order for the debt to be "time barred". So the answer to the above question is 6 years.

Thanks for the explanation.
I think i may confusing Statute Barred with the Consumer credit reporting agency records.
My prime concern is my defaults dropping off. My understanding is they will drop off six years (or there about) after they were logged regardless if the account still has a balance on it, or if it has been settled.
The Statute Barred bit prevents a lender lawfully chasing old debts.
If the contracts have been lost, or unenforceable then the letters before this time can be used for lighting bbq's i guess.

I do hope i have finally understood this correctly?



Edit: Sorry for hi-jacking (another thread!)

[SA Gold]

Re: wishfullthinkings UE Diary

Yes, you have!

Your defaults will drop off 6 years after they were recorded which won't be the same date your debt goes SBd as that's 6 years after last payment or acknowledgment in writing (5 in Scotland). If you were paying through a DMP then the debt could still be live years after the defaults drop off!

Brill, glad i have got my head around it and thanks for clarification!
Yeah, that did cross my mind but i guess the defaults are the main thing to get rid of!
Here's to the bbq's!

[Never-In-Doubt]

Re: wishfullthinkings UE Diary

Brill, glad i have got my head around it and thanks for clarification!

I did link to a layman version here --->

Here ---> MS storecards turned credit cards - Page 9 - allaboutFORUMS

Explained

[SA Gold]

Re: wishfullthinkings UE Diary

I did link to a layman version here --->

Quality thanks Niddy! It's all starting to make sense to me now, thanks to this great forum!

[Wishfull]

Wishfull's UE Diary

ok he it works
debt one
nat west credit card
started 03 02 04
current balence £5090.00
credit limit £4700.00
6 payments behind but sending token 1 pound
have agreed to stop interest and charges for 6 months
debt still with nat west no dmc involved yet
CCA SENT 04/10/10
default on cra file 21/10/2010
19/10/2010 cca reminder template sent
31/10/2010 still heard nowt back from natwest
20/11/2010 blank cca sent copy stamped all over it,hopefully they dont have an original
20/11/2010 cca letter sent as per niddy
20/11/2010 letter saying gonna hand it over to a debt collection agency
01/12.2010 letter saying not responded gonna hand it over to external dca
08/01/2011 payment demand from triton
31/03/2011 letter from green co solisiters threatening court action
will update this again soon this account is now closed with zero balence i have one more thing to do and will spill the beans asap

18/05/2013 this account had roughly £2500 worth of ppi so i done a full and final offer of £1500 they came back with an offer of £1574 wich i accepted used all the templates on here, took two months for my credit files to be updated to settled and zero balence so put in my ppi request which nat west refused but the fos have upheld so just waiting to see what happennes next

[Wishfull]

Re: Wishfull's UE Diary

Wishful finally arrived back its been worse than trying to get into Fort Knox getting back into the site
Will update my diary ASAP but nothing major has happened or hopefully about too

[PlanB]

Re: Wishfull's UE Diary

Wishful finally arrived back

Have you been somewhere nice? You've been gone over a year

[Wishfull]

Re: Wishfull's UE Diary

No just work but couldn't get in forgot all my passwords then couldn't remember my user name couldn't get on bt mail to reset anything

[Wishfull]

Re: Wishfull's UE Diary

Just had a letter from PRA GROUP they have taken one of my debts over from Buchanan Clark and wells it's one of my mbna debts

[PlanB]

Re: Wishfull's UE Diary

Just had a letter from PRA GROUP they have taken one of my debts over from Buchanan Clark and wells it's one of my mbna debts

I've replied on your new PRA thread here > http://forums.all-about-debt.co.uk/s...l=1#post556032

Plan B x

[Wishfull]

Re: wishfullthinkings UE Diary

debt 5 orange
started 04 01 2007
balence is £190.00
missed 3 payments
no token payments sent
£190.00 is an on going thing they wont give me a final balence yet as they say i still have to pay the monthly amount for the 24 month contract
debt still with orange
experian has flagged this as fsc barrel what ever that means
09/10/10 letter from dca debt legal and collections threat of door step visit amount £829.37
sent threat of doorstep visit letter 09/10/10 recorded delivery with soa and cccs letter
will now ignore them then eventually offer f&f offer [help may be needed here at later date]

This has now been paid if full and gone off my credit file

[Wishfull]

Re: wishfullthinkings UE Diary

This is now SB thanks to u guys that's ten k I have saved