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Advice Needed Re Old Debts and New Debt Collecters

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I need some advice about my debts and where I stand legally with regard to these debts.

 

Probably around 10 years ago I defaulted on all my loans, credit cards and bank account. I tried to keep to payment plans that I had actioned with most (if not all) of my creditors but soon fell behind with the overwhelming amount of debt that just increased so quickly i.e. I banked with HSBC and owed them around £5k or £6k with my student overdraft, credit card, outstanding loan etc. When I approached them to set up a payment arrangement they suggested that I take out another loan to cover everything. I was reluctant to do this but they insisted and promptly added approx £3k in interest and insurance (PPI) even though I was self-employed at the time and didn't qualify, as I pointed out to them, but they still insisted. Regrettably I defaulted on that loan very quickly and they took me to court and I received a CCJ. The HSBC loan was unsecured. For all other debts which were unsecured they sold my debts on to third parties and although I received letters I did just ignore the letters and any phone calls.

 

I have moved house 4 times since and all of these debts are way over 6 years old. The problem I have is that my debts are still being pursued and I receive letters every week. The companies are many and varied and the debts keep getting passed on from one company to another. I have never once responded to any letter or telephone call regarding these debts.

 

Could anyone advise my legal position please and answer the following queries - I would be most grateful:

 

1. Are the debts (apart from the HSBC CCJ) now too old for me to still owe the money?

 

2. Is my house at risk due to any of the debts?

 

3. Do I still owe or will I forever owe the HSBC CCJ debt until it is paid? I know a proportion of this debt is also tangled with PPI but obviously I have never paid the debt and therefore PPI mis-selling wouldn't apply unless maybe I paid the debt? Too complicated for me :(

 

4. What should I do if a bailiff arrives re any of my debts or if I continue to receive letters & phonecalls?

 

Many, many thanks in advance for any replies, I'm obviously quite anxious and concerned about my house which is my only asset.

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Could anyone advise my legal position please and answer the following queries - I would be most grateful:

 

1. Are the debts (apart from the HSBC CCJ) now too old for me to still owe the money? If over 6 years and no payment or acknowledgement has been made then they are Statute Barred

 

2. Is my house at risk due to any of the debts? Not on the SB ones keep your eye on the HSBC one

 

3. Do I still owe or will I forever owe the HSBC CCJ debt until it is paid? Yes unless that also becomes SB I know a proportion of this debt is also tangled with PPI but obviously I have never paid the debt and therefore PPI mis-selling wouldn't apply unless maybe I paid the debt? Not true you can claim on the PPI irrespective of the status of the debt Too complicated for me

 

4. What should I do if a bailiff arrives re any of my debts or if I continue to receive letters & phonecalls? Ignore the letter unless HSBC..... try to screen your phone calls and don't answer and a Bailiff can only come a knocking if there is a CCJ on a debt and a warrant for its execution has been processed.

 

Many, many thanks in advance for any replies, I'm obviously quite anxious and concerned about my house which is my only asset.

 

Regards

 

Andy

 

PS Welcome to CAG:wink:


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if you have not made any payments or written acknoledgement of the debt for 6 years then they are stat barred and you are free but YOU MUST send the stat barred letter from the libary here to them or they will continue to write to you.


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I need some advice about my debts and where I stand legally with regard to these debts.

 

Probably around 10 years ago I defaulted on all my loans, credit cards and bank account. I tried to keep to payment plans that I had actioned with most (if not all) of my creditors but soon fell behind with the overwhelming amount of debt that just increased so quickly i.e. I banked with HSBC and owed them around £5k or £6k with my student overdraft, credit card, outstanding loan etc. When I approached them to set up a payment arrangement they suggested that I take out another loan to cover everything. I was reluctant to do this but they insisted and promptly added approx £3k in interest and insurance (PPI) even though I was self-employed at the time and didn't qualify, as I pointed out to them, but they still insisted. Regrettably I defaulted on that loan very quickly and they took me to court and I received a CCJ. The HSBC loan was unsecured. For all other debts which were unsecured they sold my debts on to third parties and although I received letters I did just ignore the letters and any phone calls.

 

I have moved house 4 times since and all of these debts are way over 6 years old. The problem I have is that my debts are still being pursued and I receive letters every week. The companies are many and varied and the debts keep getting passed on from one company to another. I have never once responded to any letter or telephone call regarding these debts.

 

Could anyone advise my legal position please and answer the following queries - I would be most grateful:

 

1. Are the debts (apart from the HSBC CCJ) now too old for me to still owe the money?

If you have not paid anything or admitted the debt in writing in the last six years they will be Statute Barred.

 

2. Is my house at risk due to any of the debts?

It is possible HSBC could apply to a court for a charging order on your house, but that doesn't mean you have to sell it. As you are making the payments the court ordered this is unlikely.

 

3. Do I still owe or will I forever owe the HSBC CCJ debt until it is paid? I know a proportion of this debt is also tangled with PPI but obviously I have never paid the debt and therefore PPI mis-selling wouldn't apply unless maybe I paid the debt? Too complicated for me :(

Seperate things. You can make a PPI reclaim but if you win it may just be paid off the debt.

 

4. What should I do if a bailiff arrives re any of my debts or if I continue to receive letters & phonecalls?

A bailiff can only call if the court has sent him. Do not be fooled by DCAs into thinking they are bailiffs. You can insist that DCAs only communicate with you in writing. This is a good idea because it gives you a paper-trail and they will not put in writing a lot of threats they will make by phone.

 

Many, many thanks in advance for any replies, I'm obviously quite anxious and concerned about my house which is my only asset.

Good luck, keep your head, you situation doesn't sound too bad to me. Follow the advice you will be given on here - we are all on your side.


Love your enemies - it drives them crazy.

Thanks to Bobby Thompson (1911-1988) for the user name:"Let them knock, the paint lasts longer than the skin".

nec temere nec timide

 

So far, all done free for friends:

Cabot - F&F reduced debt by £7700 (70%)

NatWest - PPI claim - £1,800

NatWest - PPI claim - £6,200

NatWest - PPI claim - £3,000

Co-op Bank - PPI claim - £5,200

Halifax - PPI claim - £2,800

NatWest - debt identified as statute barred - £1,900

NatWest - debt identified as statute barred - £2,700

NatWest - loan identified as unenforceable - £13,400

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It is a real shame that you didnt find CAG before HSBC issued hte claim against you.

 

It was/is a favourite trick of HSBC to merge overdrafts and credit card debt into one of their famous "Managed Loans" and add PPI. Almost inevitably the people they pushed these loans onto were unable to afford the repayments and were all advised no PPI - No loan, regardless of whether the product was suitable.

 

A good defence would have been that they denied you your rights under the CCA 1974 by incorporating the credit card debt - if they had wanted to issue a claim on any defaulted debt regarding the CC - they would have had to follow the rules and default you properly before any further action could be taken.

 

In respect of all debts you believe to be statute barred - until you send the DCA / lender the SB letter advising that it is statute barred and you will not be paying - then they will continue to harrass in the hope you slip up and make a payment!!

 

So get those letters out immediately.


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Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Thank you so much for all the advice given. I feel more confident now and Let Them Knock, you are right as my situation isn't too bad compared to many others - I'm over the worst of it. I will definitely get out those letters asap too.

 

Could I just clarify the HSBC CCJ? HSBC took me very swiftly to court after I defaulted on my consolidated loan. I never attended court and never made any payments or arrangements re paying my CCJ. HSBC just as quickly sold the debt onto a debt management agency and I believe it has probably been passed around quite a few times since but I have ignored any letters regarding this and this debt is over 9 years, if not 12 years old now. Where do you think I stand with this debt after all this time and with no communication from me. I had just assumed that as it went to court I would forever owe the money until I had paid?

 

Also, may I just say thank you to everyone who has replied in such an informative and friendly manner. I thought I might receive the odd snide comment about my debts etc. as when I first realised I was having trouble I contacted my local CAB for advice and help. I was given a lecture by a retired 'dogooder' who berated me for my lack of morals by having so much debt and told me that I should not default and get off my bottom and get a job and be a respectable member of society. I was really shaken by his telling off and I was a mature student at the time working part-time with a family and had/have always been hardworking and was trying to better my education and prospects. Until now I have not had the confidence to ask for help or even speak with anyone except my husband.

 

Thank you as it is much appreciated :) and I am just about to make a small donation...

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Thank you so much for all the advice given. I feel more confident now and Let Them Knock, you are right as my situation isn't too bad compared to many others - I'm over the worst of it. I will definitely get out those letters asap too.

 

Could I just clarify the HSBC CCJ? HSBC took me very swiftly to court after I defaulted on my consolidated loan. I never attended court and never made any payments or arrangements re paying my CCJ. HSBC just as quickly sold the debt onto a debt management agency and I believe it has probably been passed around quite a few times since but I have ignored any letters regarding this and this debt is over 9 years, if not 12 years old now. Where do you think I stand with this debt after all this time and with no communication from me. I had just assumed that as it went to court I would forever owe the money until I had paid?

 

If you have not paid anything to the CCJ for as long as you say, then it is likely this will not be collectable either. Others will be able to comment with more knowledge - but it is my understanding that if they have not tried to enforce the judgment for over 6 years, it is unlikely they will be able to do so after 9 - 12 years !!

 

Also, may I just say thank you to everyone who has replied in such an informative and friendly manner. I thought I might receive the odd snide comment about my debts etc. as when I first realised I was having trouble I contacted my local CAB for advice and help. I was given a lecture by a retired 'dogooder' who berated me for my lack of morals by having so much debt and told me that I should not default and get off my bottom and get a job and be a respectable member of society. I was really shaken by his telling off and I was a mature student at the time working part-time with a family and had/have always been hardworking and was trying to better my education and prospects. Until now I have not had the confidence to ask for help or even speak with anyone except my husband.

 

Thank you as it is much appreciated :) and I am just about to make a small donation...

 

 

IMHO, you should make an official complaint to the Manager of the CAB office - There are many CAB volunteers who do an excellent job - but as always there are a few that give the organisation a bad name :(


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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