Debt companies and old debts.

[Droosie]

What on earth is happening at the moment? I am someone who works with vulnerable people and I help many of them with debt issues. I’ve had plenty of my own so understand how things can go wrong sometimes in life? However I’ve noticed a sudden surge in companies suddenly taking action after years of nothing and no contact. Lowell are among the worst companies and I am seeing vulnerable people suddenly getting texts, calls and letters after many years ( 5-6 yrs in many cases) of nothing and no contact. What is going on?

One of my patients got a phone call three days ago from CapQuest about a debt from 2009!

I am guessing I tell her it is likely to be Statute bared but don’t want to give wrong information.

But also any information about why these DMC’s are suddenly upping the ante would be useful so I can put together some advice for people.

[atticus]

Saying it may well be statute barred cannot be a bad start. These companies need to be pressed.

Often they seem to take the approach that they may not sue, but that does not stop them asking, often very firmly. Anything they get is a bonus.

[echat11]

Debt collection activities has been 'curtailed' over the last few years, so they are trying to make up ground.

The original debt has been written off by the creditors, so they are in a win / win situation as they paid pennies for these debts.

[sloane82]

After 6 year's it is statute barred.

[EnglandPi]

A statute barred debt remains a debt. Statute barred means payment cannot be enforced through the legal system but it does not stop the creditor asking.

[Droosie]

A statute barred debt remains a debt. Statute barred means payment cannot be enforced through the legal system but it does not stop the creditor asking.

Thank you. I just wonder why now after all this time? Just written a new post..,and it’s a real rant. Am so fed up with it hough as I have no idea how we will survive the winter financially.

[sloane82]

What is the debt regarding?