I'm reading but want to get things right and in the right order, please help!

[LCM]

Hi,

 

Have been reading lots of invaluable info on the site, however, I'm at the start of what seems to be a very scary pit of 'unknown territory' and want to make sure I'm doing things in the right way.

 

Okay, so I have huge debts, which is why I'm here!! Credit cards over 10 years or so, which have been with Payplan on a debt management plan for 2 years. I've been made aware that these may, or may not, have signed credit agreements which I clearly need to confirm.

• So, my first question is should I send Letter N to all the creditors in the first instance?
  
• Second question, should I inform Payplan that I am doing this?
  
• Third question, some of the creditors have passed (sold) on the debt to Debt Collection Agencies, (MBNA over to Link being one).
  

I'm struggling to take in anything past this first point though and am also slightly daunted by court action etc etc. I've also picked up that if there are no signed CCAs, the debt could be unenforceable but that means the debt remains outstanding. So they can't make me pay it but I am left with a bad credit rating forever? Is that right?

 

Any help is very much appreciated.

LCM

[the winkler 72]

bump

 

I'm with you LCM

[silverfox1961]

Hiya,

Q1, Yes

Q2 Don't really know although if the debts become unenforcable then you need to tell payplan to stop paying them.

Q3 Same as Q1

If any debt is unenforcable and no further payments made for 6 years then they will fall off your credit file.

 

fox

[LCM]

Thanks Silverfox!

 

Am off to the PO this am to send letters!!

 

Winkler - keep me posted how you're getting on.

 

L

[the winkler 72]

hi LCM

i've not started yet i'm not behind with anything yet!

but am thinking of asking for cca's just to see what happens.

good luck

winkler

[naughtykitten]

Hiya,

Q1, Yes

Q2 Don't really know although if the debts become unenforcable then you need to tell payplan to stop paying them.

Q3 Same as Q1

If any debt is unenforcable and no further payments made for 6 years then they will fall off your credit file.

 

fox

 

Just be aware that even though the debt would fall off your credit file after 6 years, some companies can still buy this debt & persue you for it after the 6 years has passed, as I'm sure quite a few people on here have experienced.

 

Hopefully, someone with experience with that situation can give you advice on what to do if it happens!

[the winkler 72]

umm naughty, so the debit never really dissapears then?

 

anymore downsides you know about?

 

winkler

[silverfox1961]

Just be aware that even though the debt would fall off your credit file after 6 years, some companies can still buy this debt & persue you for it after the 6 years has passed, as I'm sure quite a few people on here have experienced.

 

!

 

Much too early to worry about that. Lets get the CCA's back(if any) Get them posted on here (minus personal details), let the experts have a look(certainly not me:D)

My personal feeling is to carry on with payments until (if) they default on your CCA request.

From my dealings on this excellent forum (not creeping-honest guv:D), lots of DCA's wouldn't know a valid CCA if it bit them on the a**e.

make sure you keep all letters AND envelopes.

Just noticed nobody has said this. DO NOT hand sign your letter. just print it. Send all letters by recorded delivery at the very least. Keep post office receipts and do a track and trace a few days later on the post office web site. print off the dates the letter was delivered. All proof that you have sent them your letter.

Keeps us updated please.

 

fox

[PGH7447]

Just be aware that even though the debt would fall off your credit file after 6 years, some companies can still buy this debt & persue you for it after the 6 years has passed, as I'm sure quite a few people on here have experienced.

 

Hopefully, someone with experience with that situation can give you advice on what to do if it happens!

 

They can certianly buy the debt, not that it does them any good if it is STAT Barred

[Josie8]

Just be aware that even though the debt would fall off your credit file after 6 years, some companies can still buy this debt & persue you for it after the 6 years has passed, as I'm sure quite a few people on here have experienced.

 

Hopefully, someone with experience with that situation can give you advice on what to do if it happens!

 

 

If you haven't made any payments or acknowledged the debt for 6 years then the debts are stat barred and the lowlife debt collectors are not supposed to pursue you for it as it breaches OFT guidelines on debt collebting.

 

Thought naughty kitten would know that as she seems well up on the creditor side of things looking at her other posts....................

[the winkler 72]

Thought naughty kitten would know that as she seems well up on the creditor side of things looking at her other posts....................

 

 

ummmm..

[naughtykitten]

If you haven't made any payments or acknowledged the debt for 6 years then the debts are stat barred and the lowlife debt collectors are not supposed to pursue you for it as it breaches OFT guidelines on debt collebting.

 

Thought naughty kitten would know that as she seems well up on the creditor side of things looking at her other posts....................

 

Now then!

 

It doesn't stop them buying it & trying to collect on it...which they do!

[naughtykitten]

Much too early to worry about that. Lets get the CCA's back(if any) Get them posted on here (minus personal details), let the experts have a look(certainly not me:D)

My personal feeling is to carry on with payments until (if) they default on your CCA request.

From my dealings on this excellent forum (not creeping-honest guv:D), lots of DCA's wouldn't know a valid CCA if it bit them on the a**e.

make sure you keep all letters AND envelopes.

Just noticed nobody has said this. DO NOT hand sign your letter. just print it. Send all letters by recorded delivery at the very least. Keep post office receipts and do a track and trace a few days later on the post office web site. print off the dates the letter was delivered. All proof that you have sent them your letter.

Keeps us updated please.

 

fox

 

I absolutely agree.

 

I would have a chat with payplan too as they are a free service that you are already using & will be able to give you very good advice.

[PGH7447]

***

Edited November 24, 2008 by PGH7447
No reason for comment

[taskmaster]

hi to all,

i had no contact with my cc company for sixteen years after trying to resolve my debt problem. Sure enough 16 years on a debt collection company turned up on my door step and asked me to pay the £2000 i owed i declined the invitation and said if its enforcable take me to court.

havent heard from them since,

all the best.