Old debt has come back to haunt me, urgent advice needed!

[doogievx]

Ok here's the situation

Due to some serious financial issues in my life back in 2009 I received a default for £6000 on a current account with First Direct dated June 2009. I have not since been in a position to be able to clear any of this balance and therefore haven't communicated with them or any of the various debt recovery companies that they have instructed during this time.

Today I received a letter from Keynes Collections and it threatens legal action that would result in a CCJ being registered against me of which will obviously have an impact on my credit file for a further 6 years!

I believe that this debt has either just become statue barred and if not it will be within a few weeks. I really can not afford to receive a CCJ at this time in my life as I am just starting to get back in my feet financially and am hoping to purchase a house in the next few years.

I am contemplating either claiming it is statue barred or to offer a monthly payment plan. My question is if I ofer to repay monthly what would then show up on my credit file? I know that it was due to completely disappear in June this year as the default would be more than 6 years old at that time, but if I now start to pay a monthly amount will it continue to show?

Any advice would be much appreciated! Many thanks.

[basa48]

Re: Old debt has come back to haunt me, urgent advice needed!

I assume this is an overdraft? If so was it prearranged or not?

Statute barring will be in effect 6 years to the day the overdraft was either recalled or an arranged regular repayment missed. This would be the day of the 'cause of action' and the day the statute clock started ticking.

The above assumes you made no payment or admission of liability in writing for the debt in the interim.

Default Notices or default reports to Credit Reference Agencies have NO relevance to statute barring.

If you make any offers to repay or make any payment towards this debt, that would reset the statute barred clock.

[FlamingParrot]

Re: Old debt has come back to haunt me, urgent advice needed!

Ok here's the situation

Due to some serious financial issues in my life back in 2009 I received a default for £6000 on a current account with First Direct dated June 2009. I have not since been in a position to be able to clear any of this balance and therefore haven't communicated with them or any of the various debt recovery companies that they have instructed during this time.

Today I received a letter from Keynes Collections and it threatens legal action that would result in a CCJ being registered against me of which will obviously have an impact on my credit file for a further 6 years!

Is that the same letter you posted here? http://www.legalbeagles.info/forums/...5&d=1428006792

I believe that this debt has either just become statue barred and if not it will be within a few weeks. I really can not afford to receive a CCJ at this time in my life as I am just starting to get back in my feet financially and am hoping to purchase a house in the next few years.

I am contemplating either claiming it is statue barred or to offer a monthly payment plan. My question is if I ofer to repay monthly what would then show up on my credit file? I know that it was due to completely disappear in June this year as the default would be more than 6 years old at that time, but if I now start to pay a monthly amount will it continue to show?

Any advice would be much appreciated! Many thanks.

If this relates to the same account, we have replied to your other thread here: http://www.legalbeagles.info/forums/...270#post534270

[nemesis45]

Re: Old debt has come back to haunt me, urgent advice needed!

Ok here's the situation

Due to some serious financial issues in my life back in 2009 I received a default for £6000 on a current account with First Direct dated June 2009. I have not since been in a position to be able to clear any of this balance and therefore haven't communicated with them or any of the various debt recovery companies that they have instructed during this time.

Today I received a letter from Keynes Collections and it threatens legal action that would result in a CCJ being registered against me of which will obviously have an impact on my credit file for a further 6 years!

I believe that this debt has either just become statue barred and if not it will be within a few weeks. I really can not afford to receive a CCJ at this time in my life as I am just starting to get back in my feet financially and am hoping to purchase a house in the next few years.

I am contemplating either claiming it is statue barred or to offer a monthly payment plan. My question is if I ofer to repay monthly what would then show up on my credit file? I know that it was due to completely disappear in June this year as the default would be more than 6 years old at that time, but if I now start to pay a monthly amount will it continue to show?

Any advice would be much appreciated! Many thanks.

For Statute Barred in England & Wales: on current accounts/overdrafts:

6 clear years from the date that the bank issued a " formal demand for payment" and no further payments or unequivocal written acknowledgment of the debt have ever been made.
Monthly payments even if agreed with restart the 6 year limitation period from the date of the first payment.
This will though not interfere with the removal of the entry from credit files on the 6th anniversary of the default date.
What exactly does the Keynes letter say, if possible please post a copy here after removing your name and address and reference numbers.

There is a possibility that Keynes could try to post "AP" markers on the credit files leaving it live for an extended period.
Is this showing on credit files now?

You should write to Keynes and request proof that has a right to pursue the debt and to start court proceedings.

e.g.
Ref: use theirs
Sir/ Madam,

I refer to your letter dated........................: in which Keynes Collections alleges that that I owe a debt for £............:. please note I do not acknowledge any debt to Keynes Collections or any company it may claim to represent.

I have not received any confirmation that Keynes Collection have any right to pursue the alleged debt or to commence legal proceedings in regard to it.

I require Keynes Collections to provide unequivocal proof of its rights in this matter and to provide a full breakdown of how the alleged amount is arrived at.

Send a copy of their letter with this and use signed for post.

Then get into action and find out exactly when First Direct issue a Final Demand For Payment, phone them and ask it cannot affect the Limitation period in any way.

nem