Hi

I've got a 12 year old debt

but I was paying £1 A month on until I changed banks about a year ago and the payment stopped.

I never heard anything from them (barclays) until now.

I've received a letter from moorcroft asking for payment on £14k.

I don't think it was ever put down as a default on my credit report.

Can it be recorded now and do I have to pay.

Thanks

Hi,

What was the debt.

Bank loan probably more like 14 years old

On the basis of what you say, yes you do have to pay. By paying a regular £1, you have kept the debt open to legal enforcement. By discontinuing the payments, you have effectively reneged on the instalment plan and so the debt is now open to a new negotiation or legal action. It's always a mistake to interrupt the instalment plan unless there are extremely good – legal reasons for doing so.

The situation now is to start finding whether the debt is enforceable and you would start off by making a request for a CCA. Also, how much of the loan, if any is subject to charges and at what rate have those charges been applied? Was any PPI applied to the loan?

I'm trying to find out about PPI I think they insisted on me having PPI on the original £25k loan.

If it was registered as a default and has disappeared can it be registered again.

If it was registered as a default and has disappeared can it be registered again.

NO, once it has been placed on your CRF, and it has been on there for 6 years (5 in Scotland) then it will auto drop off your file.

I can't be sure it was on there as it was so long ago but thinking about it.

If I stopped paying the full monthly payments which would have been at least £200 and started paying £1 A month to a debt collector with some time in between with no payments they must have recorded it as a default. (I'm hoping anyway) ��

NO, once it has been placed on your CRF, and it has been on there for 6 years (5 in Scotland) then it will auto drop off your file.

It can't go back on in its original form.

If (and it is a big IF) it isn't statute barred (because payments had continued to be made, as is the case here) AND the creditor successfully obtained a CCJ : that then could go on a credit file (if not settled prior to appearing on the register)

Hi

I can't be sure it was on there as it was so long ago but thinking about it. If I stopped paying the full monthly payments which would have been at least £200 and started paying £1 A month to a debt collector with some time in between with no payments they must have recorded it as a default. (I'm hoping anyway) ��

Which debt collector and for how long.

First though, get a CCA rolling.

Which debt collector and for how long.

 

First though, get a CCA rolling.

I must of paid £1 A month for about 7 years at least. I think it was Robinson way before but it's now moorcroft.

CCA to Moorcroft then.

you may have to SAR Barclays to get the PPI details.

Moorcroft do not buy debts they will be acting for another.....so no pint requesting a CCA from them.

Check your credit reference files for the owner...most probably still BC.

Andy