Author Topic: Ignoring Debt advice  (Read 1488 times)


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Ignoring Debt advice
« on: Sep 16, 2012, 07:45:55 PM »
Hi all,

I have been ignoring my debts for around 3 years now. Prior to that I took out an IVA and was then made redundant and consequently could not pay. The IVA was cancelled and since then I have ignored all communication from creditors etc.

I was advised that after 6 years they can no longer chase you for the debt. Is this correct?

I'm hoping to make a new start and I am wondering now if it is better to hang on a few more years or declare myself bankrupt and start again now. There is probably around £15-20k from memory with 5 or so different creditors. I occasionally get the odd letter which I just return as wrong address.
I do not own my own home if this is any help.

If anyone has any advice on this it would be great to receive.

Thanks in advance.

Steven Jackson

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Re: Ignoring Debt advice
« Reply #1 on: Sep 17, 2012, 11:13:53 AM »
Hi craigv
If you do not acknowlege or pay anything towards your debts for 6 years, it is possible that they will become statute barred and thus no longer legally enforceable (although they still exist). However during the 6 years each creditor can apply for a CCJ (County Court Judgement) against you which would start the 6 years clock ticking again.
My view is that it is always sensible to resolve your debts once and for all and then move on. As you are not a homeowner, have you considered simply declaring yourself bankrupt and putting the debt behind you once and for all?
Debt Expert