When does statute barred take effect?

[l337speak]

Hi all,

 

I foolishly took out an unsecured loan from HFC back in 2002. If I was contacted about this loan from any debt collection company (probably TBI if they're still using them) would I be able to claim statute barred? I haven't had any contact with HFC, or TBI, since 2004. The last I heard from them they claimed my interest had been frozen and the last payment I made to TBI was sometime in 2004.

 

I apologise for the question, I'm just a little confused by the legal jargon in the Limitation Act 1980.

 

I ask as I cleared two outstanding catalogues early this year to the amount of £400 each, and plan on clearing my Barcalys credit card after the summer in full when my university grant goes in. The Barclaycard debt is about £500, which is something I can manage to get rid of for good in one go. Obviously this HFC one would be a real problem for me should they chase me.

 

Thanks in advance to anyone who can help.

Edited June 10, 2009 by l337speak

[postggj]

Statute Barred Starts At The Cause Of Action

 

That Would Be When You Missed Your Last Contracted Payment

 

It Runs From That Date For Six Years

 

If In The Six Years You Make Payment Or Do An Acknowledgement By Letter

 

The Clock Starts All Over Again

[l337speak]

Thanks for the responce.

 

I was a little confused as some of the listing in the Limitation Act 1980 say 12 years. I guess the 6 years for unsecured loans would fall under the "contracts" bit.

 

If I request a copy of the original terms and conditions, and my signature on an original contract, that wouldn't class legally as me acknolodgeing the debt? Alternatively, do I simply just send a blancket letter claiming that the debt is statute barred? I just want to make sure I'm prepared to send the correct letter.

[postggj]

Its 12 Years For Mortage Debt

 

Requesting A Cca No Way Acknowledges A Debt

 

Are You Being Hastled By A Dca At The Moment And If So

 

Which One

[pmhcfc]

l337 Speak.. you have a PM

[Bazooka Boo]

Asking them to prove the debt or furnish you with a valid copy of the CCA will not start the clock again.

From what you say, if the last payment was in 2004, then the limitation act would come in to force some time in 2010. Which month exactly was the last payment?

[cerberusalert]

One thing you have to consider is if you send a CCA request to someone who isn't chasing a debt, it will be bound to stir them into action though.

[the_shadow]

One thing you have to consider is if you send a CCA request to someone who isn't chasing a debt, it will be bound to stir them into action though.

 

I concur... plus if they didnt have your contact details or perhaps mislaid them then its nice and thoughtful of you to actually send them on a letter reminding them of this debt...

 

Let sleeping DOGS rest I say.

 

S.

[diddydicky]

Silence Is Golden!