in 2001 my car was reposesed i took it to leeds car auction under the instructeds of a.f.s , the car was sold but there was a short fall of about £800 , since then i had nowhere to live ( i was homeless after me and my wife split ) until 3 years ago now i have struggled to get my house and keep it .this debt recovery agent has found me and telling me that i owe £1,132.22 , i was led to belive that after so long( about 5 years) the debt was rote off and my name was black listed , can you tell me how long is it before the debt is wrote off if they dont contact you,( its 7 years this year since the car was taken back) . thank you malcolm.
2007-02-05 22:22:12 · 2 answers · asked by pedro one 1 in Business & Finance ➔ Credit
Debt is never lost, they just disappear for a while but never gone unless you file bankruptcy, and this should be a last resort.
2007-02-05 23:20:55 · answer #1 · answered by kissybertha 6 · 0⤊ 0⤋
Before approving your loan, your lender contacts the credit bureaus to get your credit report. Bad credit report will severely restrict your credit. In some cases, you may not even get the credit. So it is vital to get your credit report cleaned. To enable you to achieve that you have to alter your financial habits
2007-02-06 07:35:21 · answer #2 · answered by Anonymous · 0⤊ 0⤋