09 Mar 2015

A question about : unknown overdraft debt from 10 years ago.

Today i have received a letter from a debt collection agency, Buchanan Clark & Wells acting on behalf of Aktiv Kapital Uk Limited. I called the number on the letter, feeling very anxious and worried about what it could be about and an extremely rude arrogant and unhelpful man, calling himself Mr Smith, informed me that Lloyds TSB are chasing me for an overdraft debt of Ј300 from over 10 years ago that i remember nothing about at all! I said that i didn't have that sort of money, having a baby to support but i could pay Ј10 a month, at which the rude man laughed and said that i would have to prove that this was all i could afford and i would have to provide them with a list of all my monthly outgoings! Does anyone know what i should do?

Best answers:

  • If you have no knowledge of ever owing that kind of money to Lloyds, then call them back, tell them that you are disputing the debt and that you require proof that the debt is owed. Whilst the debt is in dispute the collection activity has to be put on hold. If it turns out that you owe the money, ask them to send you a financial statement proforma and take it to your local CAB/Money advice agency who can help you fill it out and sort out a repayment plan.
  • It may not even be your debt. Try this page for info and help.
  • If it's over 6 years old is it not statute barred? I'm not sure but someone else on here might know....
  • Thank you to everyone who has helped me so much with this.
  • I saw this posted on another forum I visit and tbh I have my doubts about it.
  • Seems to me there are a lot of 'salvage collectors' about at the moment - buying up very old or very dubious debts on the cheap and trying to extract as much money as possible from people. Though I'm impressed - Ј300 - surely it would cost them more to employ a DCA and do the tracing etc than it would just to write it off?!
    I would not engage in any more phone conversations with these people at all. Chances are, the debt would be statute barred if it's as old as they say it is. Any more letters you get from these people can just go in the shredder/bin.
    Whatever you do, don't speak to them on the phone, especially if they ring you - I had a DCA get hold of my number about a loan that wasn't even mine, even though they convinced themselves it was since me and the original loan holder had the same (not uncommon) name, and they called me up to 6 times a day, leaving really threatening messages until I was forced to change my number!
    TBH, if you ignore them, they may well just give up, especially if they have no proof
  • the first and most important rule whilst dealing with debt collectors is remain in charge.
    next rule always make them prove it.
    another never never ever phone them you will regret it. everything in writing. if the keep phoning complain and tell them to remove your number.
    if the debt is defaulted never pay what the are asking. offer 50-60% at most. remember they only bought the debt for pennies. don't feel bad about the original lender they have claimed your debt as tax relief.
    most important never trust a debt collector and always remember its only money and its sortable.