Think I've paid a statute-barred debt

[Silvermac]

Hello everyone,

I discovered CAG having Googled Ruthbridge, and have gained some interesting info about how to deal with them.

 

But this matter relates to Equidebt, and my recent dealings with them. I moved to Ireland in 2001, and thought I'd paid everything off but missed two outstanding bills, one from PCWorld (Ruthbridge) and a storecard from Burton (Equidebt). I moved back to the UK in 2007.

 

I got a phone call from Equidebt in early June, regarding this debt, which stood at just over £1000, and they offered a settlement of 40%. As it happened, I was due a bonus from work, so I could afford it and paid them to save any further aggravation.

 

But reading through some forums, I think this might have been statute-barred, although I have not yet checked to see if there was a judgement in place. Is there any point in me checking and saying to Equidebt that they had no right to chase this, if it was statute-barred and demand my money back, or do I chalk it up to experience?

Edited September 10, 2012 by citizenB
formatted

[brokebutnotbeatn]

Chalk it up to experience. Just because its SB the debt is not extingushed, it just means it isn't enforceable in court. They can still ask you to pay.

[citizenB]

If there was a judgment in place, then they might not be in a position to offer a "settlement". So you do need to check there if there was as you might still be liable for any balance.

 

Did you get in writing that this was a Full and Final settlement based on their offer ?

[Silvermac]

Thanks for the swift replies! citizenB, I must admit I hadn't. Will follow that up. But I do remember that during the phone call, they did say that the client was willing to make this offer. I guess that could have been a fib, though...

[citizenB]

IMHO, you need to first establish if there is/was a Judgment in place. You can do that by searching either your credit files or

 

http://www.trustonline.org.uk/

 

Then you need to establish if the debt was indeed statute barred. You start counting SB time from the first payment missed when it became due.

 

Many DCAs will argue that limitation accrues from the time when the "default notice" is issued. It does not.

 

Limitation clock starts ticking from when the payment is due and not paid not when they send a default notice.

 

We see often that CRA entries will date 5 or 6 months ahead of when the payment was missed.

 

People need to be sure that they aren’t being hoodwinked and that the DCA is extending limitation so they can sue when they are not allowed to.

 

If there was no judgment in place and it was statute barred - I guess you could make a stab at getting your money back under the reason that you were misled by the DCA into parting with money that was not due !

 

It would probably be a long shot though.. good luck and please keep us informed.

 

[dx100uk]

i bet that money NEVER went off the debt anyhow.

 

in the DCA's profit pocket ...that phone monkey laughed at you for being a mug and got a nice bonus too when he put the phone down.

 

dx

[barsweat]

Yep did the same. Rang me on the way into work and I just paid it £1200 quid lighter !!!! Did you try and get the money back silvermac ???

[BazzaS]

Yep did the same. Rang me on the way into work and I just paid it £1200 quid lighter !!!! Did you try and get the money back silvermac ???

 

Is the money owed?.

If it is owed, and the debtor chose to pay a "full and final" : why should the DCA "give it back"?

 

A debt being SB'd doesn't mean it is no longer owed, just that they can't use statue law to enforce payment.

[barsweat]

Is the money owed?.

If it is owed, and the debtor chose to pay a "full and final" : why should the DCA "give it back"?

 

A debt being SB'd doesn't mean it is no longer owed, just that they can't use statue law to enforce payment.

 

Yep it was owed, or i wouldn't had paid it genius! but I would have rather given the money to charity ! Or someone one here that could had really used it, not them capquest bullies.

[BazzaS]

Yep it was owed, or i wouldn't had paid it genius! but I would have rather given the money to charity ! Or someone one here that could had really used it, not them capquest bullies.

 

Thanks for the sarcasm ("genius") - do you feel that will inspire or put off potential respondents?

 

So, the money was owed, but the debt wasn't enforceable. Did you intend a "full and final" : if so, did you get them to agree (& get it in writing / record the conversation) that it was in "full and final settlement" : and what did you agree regarding reporting to a CRA?.

 

Even if you did all the needful along those lines, if you'd really rather have given the money to charity : one wonders who the "genius" is.

[barsweat]

Hi,

Sorry for the sarcasm!

 

The way it played out is as follows....

 

Student loan from 1996

 

Got a call from them saying I owed the student loan and had 30 days to pay. Had a few pennies in the bank so to save the bailiff banging on my door ( or so i thought )I stumped up the cash. I had 1 letter prior to that stating all my loan details etc so it seemed genuine.

 

Thinking my debt was settled at this point...

 

Then I get a call from another bunch saying I owed them £3700 with interest and gave me 31days (link financial). I spoke with the student loan company who told me they sold my loan in two parts to two different companies.

 

I then did some digging around and realised the time limitation. Downloaded a template sent it off with a few extra stern words . I received a reply just before Christmas (thanks Santa) that the loan was not enforceable due to the limitation.

 

See there is hope !

 

So question is... Why did I not use the www first time around and send these guys packing ? Genius ( me that is ).

 

Fact is if they weeny so pushy demanding the £3700 in such a short space of time I was willing to pay ( which they declined!).

 

Would be nice if I could claim the first chunk of cash back, but I guess you live and learn !