Is there a Limit on debt

[xan]

Hi

Quick question

Aproximatly 12 years ago I had an Abbey overdraft, at the time I was held up at work in an armed Robbery, my employers did not pay more than a weeks sick leave and I had no means by which to clear my overdraft, the abbey would not freeze the interest and charges, when they did eventually freeze this the only funds left outstanding were charges on charges.

They have since sold the debt to an agency who send me a black print letter on white paper, a red print letter on white paper, a black print letter on yellow then on Pink paper annually and have been for many years for a £300 debt that I dispute. Same four letters year in year out. i am not stressed about this its fone on too long,its a bit of a familly joke now. I dofeel the Bank were unfair especially as I worked 6 doors away!

 

My question is how many more years is this debt legally valid ?

 

Are there different limits on differnt Types of debt?

 

And do credtit Markers last accordingly ?

[Conniff]

As long as it has not been acknowledged or any payments made then it is statute barred at the end of the sixth year from the last payment or acknowledgement.

[xan]

Thanks for the help

 

So why are the chasing me continually for 10 years and will this be on my credit profile. I have never once responed to them or acknowledged there existance.

[saintly_1]

They continue to chase people in the hope that they dont know their rights/panic and start to repay the debt that is now statute barred

[letshelp]

Hi Xan,

Ignore these people, they will eventually go away, AL27 will probably come on soon with an excellent system of dealing with them.

To answer your question it will not be on your credit record.

regards

[IdaInFife]

You can send them this by recorded delivery.

 

Dear Sir/Madam

Acc/Ref No xxxxxxxxxxxxx

You have contacted us regarding the account with the above reference number, which you claim is owed by ourselves.

We would point out that under the Limitation Act 1980 Section 5 “an action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.”

We would also point out that the OFT say under their Debt Collection Guidance on statute barred debt that “it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period”.

The last payment of this alleged debt was made over six years ago and no further acknowledgement or payment has been made since that time. Unless you can provide evidence of payment or written contact from us in the relevant period under Section 5 of the Limitation Act, we suggest that you are no longer able to take any court action against us to recover the alleged amount claimed.

The OFT Debt Collection Guidance states further that “continuing to press for payment after a debtor has stated that they will not be paying a debt because it is statute barred could amount to harassment contrary to section 40 (1) of the Administration of Justice Act 1970”.

We await your written confirmation that this matter is now closed and that no further contact will be made concerning the above account after that last letter.

We look forward to your reply.

Yours faithfully

Mr A N Other

 

Idax