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Scottish Trust Deed Forum
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Topic starter
29/09/2011 11:19 am
hi all, i have just checked my credit report it was really bad for years and i know i owe allot of money. it has been over 6 years so some of the debts have fallen off the report and reading other posts i think they will be deemed time barred or something like that.
should i still consider a TD or try and pay off whats still on my file to start my credit history again as i want to get a mortgage in the next couple of years and i know that some wont deal with me as i have have bad debt to them in the past but there must be a way forward for me. i am in a bit of a fuzz what to do the debts totaled £80K but not on my file anymore is that good or bad?
please help.
29/09/2011 11:29 am
Did any of these creditors take legal action against you andyglasgow? If they did then they would not be time-barred and you might want get advice on your options. A trust deed could be appropriate but without further information it is impossible to say.
If a creditor did not take legal action and get a decree, and if the debt was not acknowledged by yourself within the last 5 years (ie no payment made), then the debt to that creditor would prescribe (ie be time-barred). This means that they cannot enforce the debt against you.
So depending on whether this applies or not would determine whether you need to bother entering into a procedure like a trust deed.
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Topic starter
29/09/2011 11:43 am
Hi Kevin,
Thanks for the quick reply,
About 5 CCJ's were againts me but only a couple are now showing as it was over 6 years ago. Out of the other 3, two of them will be six years in Jan and March 2012. The CCJ's against me but this was for a small amount of the actual debt.
many thanks
29/09/2011 11:46 am
Welcome to the forum andyglasgow.
Have you made any payments on any of these debts in recent years?
Have any of the companies concerned remained in contact with you about the debts?
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Topic starter
29/09/2011 11:50 am
Hi trust Deed Assistant,
I have made no payments to these debts
I stll get some letters but the debts were sold on from who i did owe to at the start.
29/09/2011 4:21 pm
Hi andyglasgow.
Even if you haven't made a payment in the past five years, any other type of acknowledgement that the debt exists might mean that the creditor does not consider a debt to be time-barred.
With this in mind, and the CCJ's that you mention as well, it might be worth taking advice on your position.
The fact that some of these things no longer appear on your credit file doesn't mean that it's automatically the case that you no longer have any liability for them.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
29/09/2011 6:39 pm
thanks i may need proper advice
i have been doing a bit of digging when i am im ,y hole and
it looks like even if they write to me but never get a respnse aknowledgement then the 5 year rule applies. can anyone tell me if this is the case
many thanks
29/09/2011 10:39 pm
Hi andyglasgow.
It's a difficult area in which to provide a definitive answer.
If it came to legal debt recovery action being started it may be the legal process that decides whether or not the debts are enforceable or not.
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