Debts over 8 years old

[cooldad]

I have regularly been making payment to 6 credit card companies and banks for over 8 years since 2004.

 

My original debt was £30k and it is now £20K.

 

I am now 64 and I would like to be debt free when I reach my pension age.

 

Although my debts are no longer registered with the CRAs, I assume I still can't walk away from my debts.

 

Can my creditors still chase me in court and take my house away, which is the only equity I have?

[renegadeimp]

The most they would probably do is IF they ever went near a court, they could ask for a charging order. They could also ask for bankruptcy, but since theyve allowed you to make payments like this for years, its doubtful

 

Since these are all credit cards, have you got full statements for all of them. If you have any missold PPI or penalty fee's on there, if you reclaim them, it could wipe out a significant proportion of the debt, especially with compound interest.

 

Can i ask if you are still dealing with the OC's, or are you dealing with DCA's?

Edited September 29, 2012 by renegadeimp

[cooldad]

If they ask for a charging order will this be registered with the CRAs as at the moment I have a clear account?

I'm still paying monthly through CCCS.

[dx100uk]

have to have a ccj first

 

dx

[dx100uk]

pers id cca them all

 

list your debts please

 

and you seriously need to investigate reclaiming

 

 

 

dx

[cooldad]

I assume it would be pretty easy for them to get a ccj for a charging order which would then ruin my credit rating.

 

What is cca and what are the benefits?

[renegadeimp]

Not really easy to get a CCJ at all. Theres a legal process to go through which gives you multiple chances to convince a court of your side of the story and put forward any proof. Only if the court doesnt believe you will any reference to a CCJ be made.

 

Payment orders will be made by a judge who will look over your financial situation and see what you can afford to pay back to the debt. ONLY if you default on this order will the debt go back to court, you will have to explain to a judge why you didnt pay, and then ONE of the enforcement options open to a judge is a charging order.

 

As you can see, its not as scary or as evil as the creditors would have you believe.

 

As for a CCA request, it basically asks the creditor to supply the credit agreement you signed along with the terns of conditions when the account was open, and the terms now. If they cant supply it, then they cannot enforce it in court.

 

As dx said, you need to get full information on these debts, as it seriously sounds like you have been cash cowed on unenforceable debts that are loaded with penalty fees or bogus charges/ppi.