have an old baclays loan which was sold to hoist - Possible mistake on statute barring of debt

[AndyOrch]

https://www.lexisnexis.co.uk/blog/docs/default-source/loan-ranger-documents/JIBFL_2017_Vol32_Issue2_Feb_pp75-79.pdf

[AndyOrch]

I thought the article covered all types of fixed loans so apologies.

 

Fixed loans are still covered by the 6 years limitation (England and Wales) pursuant to the Statute Limitations Act.

A creditor can default/ terminate a fixed loan at any time if the agreement has been breached.

 

Sorry if this is not helpful but your post is not clear on what you are actually querying 

[AndyOrch]

Okay thanks I'm with you.

 

So firstly just because a SAR does not reveal the issuance of a DN ,internal accounts that you are not privy to would reveal details of the termination and assignment.....after all assignment of debt is 99.9% of defaulted bad/terminated debts and assignment of live accounts are as rare a chickens teeth. 

 

Do you really think a DCA on issuing a court claim would state that a DN was never issued by the Original creditor ? If they did their claim would be unenforceable because of the requirement to issue a DN pursuant to sec 87(1) to enable that enforcement.

 

Your debt is statute barred and Im afraid the website you refer to I wouldn't give much credence to.....26 years 

[AndyOrch]

Also whilst your at it try to find a topic were the original creditor (Barclaycard) issued the court claim and not a DCA. 

 

As long as there has been a period of 6 years without payment/acknowledgment the debt is statute barred fixed or running credit. Yes fixed loans will contain a term that on default the full balance will become payable...but then again that requires a default notice.

 

In the event that the claimant cannot prove a DN was ever issued or required or the account was terminated then its impossible to determine the cause of action and I'm sure a Judge would not let a debt run to infinity.

 

 

.

 

 

[AndyOrch]

Your good anyway if its over 6 years since payment/acknowledgment...BC cant even provide copy agreements let alone Default Notices.

[AndyOrch]

  

Quote

on another site a solicitors firm. solicitors, replied to a similar questions with the following 

“As this was a loan, the date of last payment DUE at the loan term end can also be the start of the statute clock, unless the agreement has been terminated early as above. I don't know the details of this particular loan, but, as an example, a 10 year loan, taken out in 2010, would not become statute barred before 2026, unless terminated early by the creditor.”