Author Topic: debt letters arrived in post  (Read 3118 times)

hitch250

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debt letters arrived in post
« on: Nov 01, 2012, 08:06:30 PM »
hi could anybody help please  in 2006 i tryed to set up an iva but it failed at the last moment, and the company said creditors would now be back in touch.
the iva failed Dec 06 and i paid nothing to creditors for 2 month previous to that.
now today i have received 3 letters from max recovery asking for over £20.000 in total for the letter states its in compliance with consumer credit act 1974 AND JUST GIVES YEARLY STATEMENT NOT ACTUALLY ASKING FOR PAYMENT.
could anyone please help me as i haven't taken any credit for 7 years now paid for everything in cash just to get my credit rating in line.
the only debt showing on my credit file is a ccj in Dec 06 but also no contact was ever made with me i only found out about it when checking my file.
i do owe this money but ran away from it if I'm honest when nobody got in touch
many thanks
lee

michaelmac43

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Re: debt letters arrived in post
« Reply #1 on: Nov 04, 2012, 07:14:29 PM »
Hi Lee
All this happened nearly six years ago and I guess they have started to write to you again so that the case doesn't lapse.
Hard to advise you, because it's not straightforward. I suggest that you should get in touch with Citizens Advice as soon as possible. They were very helpful to me when I was in a similar situation ten years ago. They'll look at all the details and advise you how to deal with this.
Michael

Steven Jackson

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Re: debt letters arrived in post
« Reply #2 on: Nov 06, 2012, 12:01:37 PM »
Hello Lee
Max Recovery are a debt purchasing company. As such what has happened is that Max have bought the debts that you owe from the origional creditors. They are chasing for them now as the time period for the debts to become statute barred is close on the horizon. You could chose to continue to ignor Max. If nothing else happens and we get into 2013 I would say there is a good change that the debts will then be statute barred and Max will no longer be able to try and enforce payment with court action. However Max's strategy might be to apply for CCJs against you. I this happens before 2013 then the statute barred clock will start ticking again for another 6 years. At that point one of your options (given you do not own a property with equity) would be to consider bankruptcy. I would suggest that you find out more about this option and speak to a debt expert who can talk it any your other options through with you.
May I ask, why did you not simply go bankrupt in Dec 06 when your IVA failed? If you had of done then all of this would be over by now and you would be debt free.
Debt Expert
ivainformation.com