Can i be pursued for a payday loan thats over 6 years old?

[nikkikitch]

Hi

 

I was recently contacted by Motermile finance about an old payday loan from 2008.

To be honest I'd completely forgotten about it and now there have been charges added by Motermile that i don't agree with.

 

I just wanted to check that if this hasn't been to court and this is the first communication I've had, then surely it's become statute barred?

 

Thanks

[unclebulgaria67]

Depends on when the loan went into default per the t&c's of the account.

 

You could send the statute barred letter and would be up to MMF to prove otherwise. They would need to send you a statement of account from the PDL company, together with any paperwork that confirms that the account is not SB'd, if they want to pursue this any further.

[nikkikitch]

OK thanks.

and just to check, when does the 6 year period start from? The date the loan was taken out, the loan payment due date or the date you default?

[Crocdoc]

The 6 year period begins from the date you made the last payment or acknowledged the debt in writing. Therefore just because the debt is six years old it does not mean that it is automatically Statute Barred

For example if you made a payment of £1.00 in December 2010, the debt would not become SB until December 2016 in England and wales.

 

SB is five years in Scotland.

[nikkikitch]

I dont think any payments have been made on it. It says on the letter loan date 23/06/08, due date 23/07/08. Seems convenient to me to be honest!

 

Is the best thing to do, ask for details of any payments?

[Ell-enn]

Just send them the stature barred letter (template in the library) then if they disagree then it's up to them to prove otherwise.

[nikkikitch]

Ok thank you

[Ell-enn]

Best to send it by recorded delivery or they will simply say they didn't get it.