 I owe $4000 credit card debt, is there a company that will pay it off and icould pay a small monthly payment? |
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 What do i do with my debt if i'm leaving USA and moving back to Europe? |
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ambugirl | Does anyone know if there is a time limit on credit card companies demanding there money back? |
ex wife ran bill up, know i'm left to pay it but at time because i didn't know due to moving and thinking i had paid it off,
now 7 years after apparently defaulting i have been told i still owe £4000
should they have written it off or can they still demand payment. |
 |
 
shell
|
There are some wrong answers on here.
The facts are that in the UK debts are statute barred after 6 years.
This means if you have not admitted the debt (which includes having made a payment) within 6 years it should not be enforceable in county court. (If you do admit the debt, or make a payment the 6 years restart).
I would write to the creditor asking them for proof of the debt. Do not admit the debt - you are just asking them to prove it and point out to them that if the debt is over 6 years old it would be statute barred anyway.
However, if there is County Court Judgement in place the debt is enforceable forever. |
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redvelvetflames4ever
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They can continue demanding payment until the day you die. Once upon a time if after 7 years you defaulted on payment they would write it off. Not anymore. If I were you considering the amount of time that has gone by try to come up with a settlement amount. Explain these were my former wife's expenses and I can settle this for $1,500.00. I have nothing more to offer you. Or you can take the next route and sue your wife in court to incur half of this expense. |
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Crazy Cat Lady >^..^<
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Your exwife your avaitor is a girl ? But I guess that doesnt mattter. Is there a Statue of Limation in Egland? |
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The_Informer
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suggest you go to the Citizen Advice Centre with all your paperwork and let them assist you. |
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Mav.
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There is a statute of limitations on your debt. You've passed it.
If they call about it, DO NOT ACKNOWLEDGE THAT IT IS YOUR DEBT. Even acknowledging it is your debt will open it up again, removing the statute of limitations.
A lot of companies buy and sell old debt trying to scam old debtors, because as soon as they admit that money at least was owed at one time, the statute of limitations is brought back up to date. Even if they offer to settle the debt to you for a cheaper fee, acknowledging that you'll settle opens up the WHOLE debt, then they can renege on the settlement and you're forced to pay the whole thing.
Deny, deny, deny. Do not accept any debt. If you are called, simply say "I'm sorry, but no, I do not owe any money to you." Then request they no longer call you. It might not stop the phone calls, but it'll stop them until they sell the debt again. If they keep calling, report them, it's against the fairness to debtors act. Forget the exact name.
Debt is cheap, a company can purchase millions in debt for thousands of dollars. All they have to do is get you to acknowledge it, and you owe them the money again. People make a business out of this legal loophole.
Be sure to check out what the statute of limitations is in your region/state, seven years might not be it, but in general most debt is past the statute in 5-7. Until then, do not acknowledge any debt. Hang up religiously. |
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PregnantPolishChick
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They can still demand payment.
If they don't want to deal with it, they can throw it at a law firm and a judgment could be placed against you (happened to me!)
When this happens, they can set it up where your employer removes a certain percentage of your pay check every time you get paid till the debt is paid off.
If it was for a smaller amount, they would pretty much throw it away, but it would still show on your credit as a debt you didn't pay off. The best thing to do, would to talk to the people at the credit card company and set something up with them before they decide to get lawyers involved. It costs you more in the long run and does real damage to your credit!! |
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vixalle21
 |
it depends on your state, most states have a statute of limitations where they cant claim after a certain period of time, usually 5 or more years, but if they get in contact with you and you actually speak to them, the time limit starts all over again. if they have no contact, they have to write it off... Check with your consumer affairs department. good luck |
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JEDI MASTER YODA
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This matter should have been resolved years ago - apparently they sold your debt which was written off to a Collection Agency. There goal is to find you, collect the debt or negotiate a settlement on the outstanding credit amount due.
First, Get a FREE copy of your Credit Bureau Reports from the 3 major credit firms and see if this 7 year old item is still on your Credit Report?
You can check with the Better Business Bureau for resources in your area.
And under the Fair Debt Collection Act to protect consumer rights in debt collection they the Collection Company cannot hassle you via the us mail, email or telephone.
You could also try to negotiate a settlement for a lessor sum with the Collection Agency if you find out that this item actually still apears on your records?
GOOD LUCK! :-) |
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♪¥Nicole¥♪
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Yes they can still demand the payment they can also take action with the courts to get the payment, them in turn can & will send the baliffs round to your home to gather as much as they can to get the money you owe them.
If you call them up & explain you had no idea about the outstanding bill & if you cannot afford to pay you can explain this to them, they will then enter you into a debt management program with themselves & they work out how much you can pay it back on a weekly/monthly payment plan |
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taffy36@btinternet.com
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you owe it so pay it, after all you borrowed it!! |
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