15 Year old Debt

[Jojo9786]

Hello,

I am after some advice.

when I was 18 I got myself into around £15,000 worth of debt.
I couldn’t afford to pay any of it back, and I ignored.

After 5 years one of the debt collectors took me to court and I managed with help from this wonderful page to set up an agreement to pay so much per month. This is the only Creditor out of 8 I acknowledged.

Roll on 11 years later, I have a mortgage and have received a letter today from an old debt. I estimate it is around 15 years old. I have not acknowledged this debt in 15 years, they have contacted me at my current address (the debt was taken at my parents house) from a debt collector agency who have taken over the collection of this debt, which is around £8000.

could I please have some advice as to what I do, do I ignore it? My parents have said they receive a letter probably ever 18 months chasing this debt, which they have never acknowledged. I know that this is probably time barred now but can they actively chase me, send debt collectors to me door etc?

My partner knows the situation I got myself in when I was 18 but I’m so scared they will turn up at my door. I’ve been on the electoral roll for three years and this is first letter I’ve received.

any advice will be gladly received

thank you

[Ukmicky]

Statute of limitations is 6 years for most debts . It can longer for some types of debt however . The devil is in the detail so go citizen advice.

[Jojo9786]

Thankyou it was for a loan, does it matter that I haven’t been on electoral roll for so many years ?

[atticus]

the electoral roll is not relevant.

The debt collectors are hoping you will pay something voluntarily. From what you say, court action will be time-barred. There is a lot to be said for staying firm and ignoring the letters.

[Jojo9786]

Hi Atticus,

what do you mean by there is a lot to be said from staying firm? Sorry I’m confused

[MIKE770]

sit on your hands statute barred nothing they can do, if they contact again come back here/ old debts the DCAs hope you are non the wiser, they are loosing business?

[atticus]

stay firm, sit toight, do nothing, igbore the letters.

[Jojo9786]

Thankyou all for your responses, I am just panicking that they will turn up at my home!

[MIKE770]

if ever anybody tell them to go no need to speak to anyone, most these threats are just that.

[Jojo9786]

Thankyou really appreciate the responses. The letter I received is from Ruthbridge, apparently Cabot have sold on my case. Are they likely to up the letters? My parents receive one a year from Cabot at their address in my name. I have no details as to when I defaulted but i haven’t acknowledged in over 12 years for sure.

[Jojo9786]

Thanks. I’m just conflicted as some advice is to ignore and other advice is to contact the debt collection agency?

[MIKE770]

Do nothing for now Dr next move then more insights to latest information

[Jojo9786]

Sorry do you mean wait until I hear more from them?

[MIKE770]

Yes they are trying their luck so see next move ?