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Interesting, something I never knew. I’ll save them links just in case they need to be used for any reason.
Debt advice please.
- Thread starter Ynot
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Interesting, something I never knew. I’ll save them links just in case they need to be used for any reason.
The Op said it was credit cards and loans....so he is legally obliged to pay it...
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Since my last problem I’ll never get any kind of credit or loans again.
I’ve had enough of lenders all together. As sad as it sounds I would rather have nothing. Don’t give a damn about devices and gadgets any more like I used too.
All my debt was down to wasting it on tech, which is a shame but hey ho.
I’ve had enough of lenders all together. As sad as it sounds I would rather have nothing. Don’t give a damn about devices and gadgets any more like I used too.
All my debt was down to wasting it on tech, which is a shame but hey ho.
Not if those debts have become statute barred. The debt still exists but is unenforceable though the creditor can still attempt to recover it.
The situation is different in Scotland where the debt is extinguished and ceases to exist.
I very much doubt that credit card companies don’t pass on debt to debt collection agencies and then the bailiffs come a knockin....
Bailiffs can only act through the courts or with a court order. If the debt is statute barred bailiffs won't be involved.
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So as long as you don’t accept the debt is yours after 6 years?
It does if you just pick up and vanish. Just leave the house with the debt. Proven way to get away with it........... Lol
what I’m saying is...the chances of credit card debt becoming statute barred is slim...no ?
As I said earlier, presumably most creditors are savvy/organised enough not to allow debts to become statute barred.
When I was 20 I got a credit card with natwest which was £750 and overdraft of £3000. Got into money problems so I just ignored all letters from them and the debt collectors threatening letters. It's now been 14 years so nothing they can do. It did mess up my credit rating for 6 years mind you.
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Citizens Advice. They will put them in touch with a free advice specialist.
Tell them not to consolidate their debt until you speak CA. Worst thing you can do.
Tell them not to talk to their bank, they have zero tolerance . This idea that they are here to help is completely untrue. They are here to make a profit and the moment there is a danger they cant they will throw you under a bus.
Tell them not to consolidate their debt until you speak CA. Worst thing you can do.
Tell them not to talk to their bank, they have zero tolerance . This idea that they are here to help is completely untrue. They are here to make a profit and the moment there is a danger they cant they will throw you under a bus.
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I suppose this is the alternitive to ignoring debt, if you don't start to pay it back then it will completely screw you for future credit for a number of years afterwords.
You... Well... Wow...
Hi Yes, that's exactly what happened, thanks