1st Credit/Judge&Preistly chasing old debt Help!

[Lizzye73]

I hope someone can help me. I've had a letter today from both 1st credit and Judge and Priestly Solicitors about a old bank loan that I got out in 2003, which I stopped paying a year or so after. This is my only bad debt. I did start paying a small amount towards it a couple of years later and then stopped again due to money situation and stupidity. However they've now sent me this letter saying they want the money in 16 days or 1st Credit 'may consider taking a court judgement out against me'. I've checked both my credit reports for this to see if it's still on there and both are clean with no defaults I really don't know what to do as I acknowledge I stopped paying it but it was a long time ago and I don't think I have any paperwork to even refer to it about it .If anyone could give me some advice I would be very appreciative as I'm panicking somewhat about this now and would like to resolve it without opening it all up again if possible. Thank you

[nemesis45]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

I hope someone can help me. I've had a letter today from both 1st credit and Judge and Priestly Solicitors about a old bank loan that I got out in 2003, which I stopped paying a year or so after. This is my only bad debt. I did start paying a small amount towards it a couple of years later and then stopped again due to money situation and stupidity. However they've now sent me this letter saying they want the money in 16 days or 1st Credit 'may consider taking a court judgement out against me'. I've checked both my credit reports for this to see if it's still on there and both are clean with no defaults I really don't know what to do as I acknowledge I stopped paying it but it was a long time ago and I don't think I have any paperwork to even refer to it about it .If anyone could give me some advice I would be very appreciative as I'm panicking somewhat about this now and would like to resolve it without opening it all up again if possible. Thank you

Hello Lizzye. welcome to LB,

Ok no claim actually started, that's good.

What we need to is when exactly did you make the last payment?

More than 6 years ago?

From what you say possible last payment sometime 2005?

nem

[Lizzye73]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

Thanks for your reply. I honestly can't remember, I have a niggly feeling the last payment was in 2010 or thereabouts.i was only paying it for a short time too, about a year. I will have to check my bank statements to be sure though. I'm not even sure it as them I was paying it to. Although that probably doesn't matter does it. Sorry to be vague. If I can check my bank account that far back I can be more specific. It's a big splotch on my otherwise clean credit history which I keep trying to ignore. I've never answers any of their mails either since, I'm not sure how they got my present address .

[nemesis45]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

Thanks for your reply. I honestly can't remember, I have a niggly feeling the last payment was in 2010 or thereabouts.i was only paying it for a short time too, about a year. I will have to check my bank statements to be sure though. I'm not even sure it as them I was paying it to. Although that probably doesn't matter does it. Sorry to be vague. If I can check my bank account that far back I can be more specific. It's a big splotch on my otherwise clean credit history which I keep trying to ignore. I've never answers any of their mails either since, I'm not sure how they got my present address .

What is actually showing on your credit files?
They search credit files Lizz.

nem

[Nibbler]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

Was there at any point a whole 6 year period during which you did not pay or acknowledge the debt in writing?

[Lizzye73]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

How do you mean? I looked though my equivalent and experian ones this pm and checked if anyone was searching and there was nothing in their names just a few insurance companies and that was on both. There are only my active accounts and one other settled account. Is there anything specific on their I should be looking for? Thank you

[nemesis45]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

How do you mean? I looked though my equivalent and experian ones this pm and checked if anyone was searching and there was nothing in their names just a few insurance companies and that was on both. There are only my active accounts and one other settled account. Is there anything specific on their I should be looking for? Thank you

Even if a debt does not show on credit files it does not mean it is statute barred, all defaulted accounts are removed from credit files on
the 6th anniversary paid or not.

For a debt to be SB in England and Wales there must be an " unbroken" period of 6 years with no payment
and/or unequivocal written admission of liability, a court claim issued in the relevant 6 year period stops the
" clock " on the date of issue.

Which is why I asked when exactly the last payment was made.

nem

[Lizzye73]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

Hi again,
sorry I dissapeared, I have been I a bit of a panic since and have been trying to sort out what's what with this debt. I called Halifax to ask when this loan was defaulted and according to them that was June 2007, even though I'm sure I'd stopped paying before that, but still. I originally got it out in 2003, as I mentioned above. They also told me that the account had been sold to 1st Credit and that the account was closed to them (Halifax)
In 2011 I was paying 10 a month to a company called Mackenzie Hall as I got scary letters and foolishly spoke to them. Like I mentioned above I paid this for a year and then stopped when I moved house. I have never spoken to 1st credit or agreed to any payments to them though throughout the duration of this debt.
Should I keep ignoring them or is this going to catch up with me now? My credit has be good for a long time now and this will really put a spanner in the works for us buying a house if I have to dredge it up again. Is there anything I can do about it at all? I'm very stressed about it all.

[Amethyst]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

1st Credit shouldn't be able to put it back on your credit file, as it can only be on for 6 years from the date it was first marked as in default - so your only concern really is getting a CCJ - which would screw your file up for 6 years.

If you are in a position to you could try and negotiate a full and final settlement ( say 30-50% of the debt ?) to get rid of it for once and for all, otherwise set up an installment plan with them - OR if you are willing to risk it wait and see, potentially defending against them in court using the Consumer Credit Act in the hope they don't have the relevant paperwork or if they do you can negotiate at that point - obviously thats a bit more stress ful and game playing, and if you are wanting to buy a house I'm pretty sure you won't want to take the risk.

How much is the debt approx?

[Lizzye73]

Re: 1st Credit/Judge&Preistly chasing old debt Help!

Te debt, according to 1sr credit is £5519.00
the original loan was for 5000
i simply don't have enough money to pay it off, although I would love to just to be rid of it.
Im also not convinced by their letter from judge and priestley. As it only states they 'may issue court proceedings'. I don't want to drag this up again by speaking to them but equally don't want to be taken to court. ��