To not repay 20 year old debt?

[phonecallfromtheblue]

I’ve just had a phone call from a debt collector (seems legit enough) about money I owe. It’s true and I did have a store card in 2004 when I was very young and stupid.

Obviously it’s now twenty years later and I think contacting me about it now is ridiculous. I get that morally I might be liable but surely legally I’m not after this amount of time has gone by?

Because there are laws and contracts around this sort of thing.

Don’t admit to the debt.

Even if the debt was less than 6 years old in order to take you to court they need to show the original signed credit agreement to show the terms of the “loan” I.e what interest they were charging etc

without that they can’t even begin to take you to court because no one knows the terms you agreed to

Ignore. It's not enforceable. You wouldn't be paying back the original debt anyway. This collection company bought the debt for pennies and any money they can get out of you becomes their profit.

Previous debt advisor here. Ignore it. They are chancing.

Agree with previous posters the legal time to chase the debt, 6 years, has long past. Might be worth reporting debt agency to the FCA.

Do not pay. Do not agree to pay or acknowledge the debt in any way, especially in writing including email. Once you acknowledge it, it will be live again.

How much is the debt op? just being nosey

Yeah definitely statute barred. There's a good template letter on national debt line which doesn't acknowledge the debt but sets out the legislation. I used to be a debt adviser - if they keep contacting you send the letter and they'll go away.

nationaldebtline.org/sample-letters/time-has-run-out-recover-debt-ew/

Yes, it would, personally I'd just give it a stiff ignoring.

But do what @DejaMooo said, she's far more sensible & knowledgeable!!

Argus sold that debt for pennies to a debt collection agency who you never signed any agreement with.

Yep, this 100%. For anyone worrying about the morals, Argos will be in the exact same position financially whether OP pays in full or doesn’t pay a penny.

https://www.handbook.fca.org.uk/handbook/CONC/7/15.html

If the creditor has applied to court for bailiffs you might have too

https://www.citizensadvice.org.uk/debt-and-money/help-with-debt/dealing-with-your-debts/check-if-you-have-to-pay-a-debt/#:~:text=There's%20no%20time%20limit%20for,before%20they%20can%20use%20bailiffs.

I have the same. It's a 22 year old debt that my late ex husband forced me into (DV) as I was the main earner, for car finance. He's dead so they chase me for it. I get calls and letters but I just ignore them. That man nearly killed me, broke me emotionally and financially and I will not succumb to any of it now.

That clearly and repeatedly says that for most debts it’s six years though. This is more than three times that!

They are not in a position to instruct bailiffs. This debt is time barred and unenforceable .. their phone call means nothing and they know it.

You're right but a contract is something governed by law and both can have responsibilities under that law. In this case, the lender has messed it up. Morally, you MIGHT be right but people assign different ethical considerations when dealing with person vs. corporation than they do to person vs. person. That's why contracts are legal instruments, not moral ones.