Old debts.

[wilsongreen]

About Ten years ago I couldn't pay me creditcard bills because it wen up so high. Because of me changed my address they couldn't contact me. I bought the house about five years ago. Last week I received a letter from link financial asking me to settle a creditcard bill which belong to a bank they said on the letter they bought the debt and if I don't respond to them I may loose my home.

Is it correct advice. I saw on some websites as after 6 years if the creditcard companies couldn't contact me the debt will be freezed.

What can I do at this stage. Do I really need to pay this bill. I am already struggling with my mortgage. I don't want to loose my home. What would be the best advice.

[Bigmac versus]

Hi wilsongreen and welcome to the forum
If the debt is older than 6 years and you havent paid anything in this time then it is statute barred, this dosent stop the DCA from trying to get you to pay it but when you inform them that the debt is staute barred then they must refrain from pursuing you for that debt however the court can postpone the limitation period in cases of fraud, concealment or mistake (s32 of the Limitations Act). The period of limitation shall not begin to run until the claimant has discovered the fraud, concealment or mistake or could with reasonable diligence have discovered it.