I have a number of debts all but one being more than six years old . i have just received a letter in the post at my address from debt collectors that want to contact me . It looks like i will have to go bankrupt . As i understand any debts will fall of my credit record if they become six years old but are you still legally liable to pay them . Can any one help .
credit cards and store cards . the people who have contacted me are a company called gone away so based on what ethal has said i never gave them a forwarding address so i beleive that bankrupcy is my only option as �20 000 debts is unmanagable for me .
It is part of your terms and conditions that you keep your creditors informed of your change of address and failure to do so means you lose the right to have a debt statute barred.
It stops people with huge debts disappearing for a few years to stop creditors getting them in to court.
By the way, there are a number of options that you have - bankruptcy is the very LAST option. There are other things that you can do - I would suggest that you speak to the CCCS first.