Unenforceable debts

[Dee]

I'm a complete newbie on here, and don't understand the jargon etc, so please be gentle with me.

My debt problems started around 12-14 years ago, and ended up with me defaulting in 2000. Since then I've been paying my creditors various amounts each month, and the interest has been frozen.

I've read somewhere that if a creditor cannot produce the original loan/credit agreement, then the debt is legally unenforceable and I presume I no longer have to pay them.

Is this the case?

If so, what do I have to do?

I have also managed to rebuild my credit rating, in the last few years, and would not like anything to spoil that, if I stopped paying creditors, would they show a default on my credit rating?

Any help gratefully accepted, but please explain in simple terms, like I said, I don't know the jargon.

Many thanks.

[Amy]

Re: Unenforceable debts

I have also managed to rebuild my credit rating, in the last few years, and would not like anything to spoil that, if I stopped paying creditors, would they show a default on my credit rating?

Yes, they would.

[Amethyst]

Re: Unenforceable debts

Sounds like you have done, and are doing very well, personally I would keep up with what you are doing. I know it feels never ending but things do get better slowly. You have things at a manageable level and should something urgent happen you have a better credit rating which you may well need in the future. Have you been cold called by a company offering to write off debts or just read about the issues across the forums ? It did used to be the case that if a creditor couldnt supply the actual copy of your loan agreement the creditors would write off the debt, this is no longer the case (and shouldnt have been to begin with according to recent case law), there have to be quite major flaws in an agreement to get it written off, and in the process your credit rating can still be trashed as that isnt classed as enforcement by the courts.