Debts
Options
charlie79
Community member Posts: 258 Pioneering
I have been very cautious with my bills paying on time and not getting into debt.
The debts I do have are over 7 yrs.
I have recently been getting letters from Cabot and other debt recovery agency's. I have not responded. What should I do?
The debts I do have are over 7 yrs.
I have recently been getting letters from Cabot and other debt recovery agency's. I have not responded. What should I do?
Comments
-
charlie79 said:I have been very cautious with my bills paying on time and not getting into debt.
The debts I do have are over 7 yrs.
I have recently been getting letters from Cabot and other debt recovery agency's. I have not responded. What should I do?
My advice would be not to ignore the letters, as ignoring the matter will not make it go away and you could find yourself in more debt... It's a very good idea to note down all of your monthly income, and then all of your monthly outgoings. Deduct your outgoings from your income to see how much you are left with. You will then be able to make a formal offer to clear the debt, but do not make an unrealistic offer that you cannot comfortably manage. Recovery Agents are governed by codes of practice, and they will have to take your individual situation & disability issues into account, BUT, if the debt rises into a significant amount they do have the powers to seize your goods or whatever if a court order is in place... A visit to your local Citizens Advice Bureau is also a good idea.
-
Yes but in 2012 a law was passed that a debt could not be chased after 6 years and only if you respond that debt then begins the 6 yaer roll again then they can
-
charlie79 said:Yes but in 2012 a law was passed that a debt could not be chased after 6 years and only if you respond that debt then begins the 6 yaer roll again then they can
-
HiYou need to get trained advice regarding your debts as the "Limitation Act 1980" may be involvedBe all you can be, make every day count. Namaste
-
i double checked all advise thank you. Under limitation act 1980 they ca only chase you for debts for 6 yrs mine are 7yrs or more. After this they are statute barred. I'm OK thank god
-
charlie79 said:i double checked all advise thank you. Under limitation act 1980 they ca only chase you for debts for 6 yrs mine are 7yrs or more. After this they are statute barred. I'm OK thank god
-
My debts were payday loans thank god nothing like rent arrears or c/tax thank god
-
charlie79 said:My debts were payday loans thank god nothing like rent arrears or c/tax thank god
-
Thanks my debts are over 7 years how do i wipe them if statute barred
-
In the past I have found StepChange to be really helpful for debt advice.
https://www.stepchange.org/
Winner of the Scope New Volunteer Award 2019. -
I called stepchange they said only assist in paying debts I haven't made any payments in 7 yrs or over
-
Ok. I've made some minimum payments with StepChange, but thought they may have been able even to advise you at least. Sorry to hear this. I hope you manage to get it sorted out @charlie79 .Winner of the Scope New Volunteer Award 2019.
-
charlie79 said:I called stepchange they said only assist in paying debts I haven't made any payments in 7 yrs or over
:-)
-
Definitely made me smile. Wish I had £20 lol
-
Definitely check out Martin Lewis. It is full of good advice and information about money saving.
Ask your bank for money saving tips as well. Additionally you could always sign up to a money advice forum. Keep receipts. There is a family finances board on BabyCenter that may be able to help you out - https://community.babycenter.com/groups/a3195/family_finances
Create a spreadsheet. For our family I have maintained a monthly expenses fund and spreadsheet on my laptop using Excel. It is divided into categories, medical, educational and general. I print off one copy (the other copy is stored on a removable disk) for my records. Save up whenever possible. Make good financial choices. This is part of independence. Take advantage of all deals and offers. -
I do a spread sheet and am really good with my finances now. I have confirmed debts I had before are statue barred due to everyone's advise on this forum. I do a money sheet every 2 weeks as I get paid fortnightly in order to make sure all bills are paid. I have to as I am housebound. But you are right it's a good way to make sure you know what your outgoings and incoming are. I will inform my support worker to help me send a letter to debt collectors informing them the debts are statute barred as they were from 2011. Everyones advise has been good and helped thankyou
Brightness
Categories
- All Categories
- 13K Start here and say hello!
- 6.6K Coffee lounge
- 103 Games lounge
- 416 Cost of living
- 4.3K Disability rights and campaigning
- 1.9K Research and opportunities
- 199 Community updates
- 9.3K Talk about your situation
- 2.1K Children, parents, and families
- 1.6K Work and employment
- 776 Education
- 1.7K Housing and independent living
- 1.4K Aids, adaptations, and equipment
- 615 Dating, sex, and relationships
- 363 Exercise and accessible facilities
- 737 Transport and travel
- 31.5K Talk about money
- 4.3K Benefits and financial support
- 5.2K Employment and Support Allowance (ESA)
- 17K PIP, DLA, and AA
- 4.9K Universal Credit (UC)
- 6.3K Talk about your impairment
- 1.8K Cerebral palsy
- 868 Chronic pain and pain management
- 180 Physical and neurological impairments
- 1.1K Autism and neurodiversity
- 1.2K Mental health and wellbeing
- 319 Sensory impairments
- 824 Rare, invisible, and undiagnosed conditions