Statute Barred Question

The_Bard_Of_Statute · 7 November 2017 at 5:53PM

I'm posting to see if my debts will be statute barred in under two years, or not?

I'm in England and haven't paid a penny to the debts in question since March 2012. These are all debts from about 5- 7 years earlier, and haven't had a penny to pay them, though I did offer to go bankrupt at the time.

I stopped all my Standing orders and DD's at that time, but have been contacted by letter, text, email and phone calls, from whoever has bought the debt since.

I haven't engaged with any of these people, bar answering the phone, not giving my name, then barring the number, and obviously ignoring all other forms of contact.

Unimaginativeusername · 7 November 2017 at 6:21PM

If you have not paid anything or acknowledged the debt for 6 years then it will be statute barred. Unless it’s a mortgage or owed to HMRC.

The_Bard_Of_Statute · 7 November 2017 at 6:25PM

That's great to hear.

Thanks!

I did my best to pay the people I originally owed the money to, at the time, stressing myself out big style, but just had to give up in the end.
I'm not too fussed about giving anything to the vultures that hope to make a quick buck from what I owe though, so will wait it out for the next 18 or so months.

-taff · 7 November 2017 at 6:50PM

There's nothing to stop them obtaining CCJs so check your post in case something like that comes through.

The_Bard_Of_Statute · 7 November 2017 at 6:58PM

I do, thanks, but it doesn't seem worth their bother, as the debts just get passed around.
I've had one, but that's it.

sapamm · 20 November 2017 at 9:15PM

Unimaginativeusername Do you know how the statute of limitations works in relation to mortgage debt that has been re-assigned? I am trying to find out if my mortgage debt (capital) from 2007 still has 2 years to before barred, or since I discovered it has been bought by a debt company whether 1: the 12 year is still attached to them or does it 2: default to 6 years since the debt is no longer mortgage but a different kind of security.

sourcrates · 20 November 2017 at 10:04PM

sapamm wrote: »

Unimaginativeusername Do you know how the statute of limitations works in relation to mortgage debt that has been re-assigned? I am trying to find out if my mortgage debt (capital) from 2007 still has 2 years to before barred, or since I discovered it has been bought by a debt company whether 1: the 12 year is still attached to them or does it 2: default to 6 years since the debt is no longer mortgage but a different kind of security.

Mortgage shortfall debt can be pursued for 12 years, however, recently it was agreed that if you were not contacted within 6 years, the debt may be concidered statute barred.

National debtline a good place for advice.

sapamm · 20 November 2017 at 10:48PM

Thank you for the response regarding the 6 year agreement. However, I am concerned that as the debt was reassigned (sold to a debt company) they will not observe this. Therefore, my question is whether since the debt is no longer a mortgage but a 'bought' debt does the 12 year limitation also change to 6 years. The debt company (I can't go into details as I do not want to alert them by putting their name here) appear to have the debt reassigned to them - but can the 12 year limit also be reassigned to them or does it revert to 6 years when they buy mortgage related debt?

sourcrates · 20 November 2017 at 11:39PM

sapamm wrote: »

Thank you for the response regarding the 6 year agreement. However, I am concerned that as the debt was reassigned (sold to a debt company) they will not observe this. Therefore, my question is whether since the debt is no longer a mortgage but a 'bought' debt does the 12 year limitation also change to 6 years. The debt company (I can't go into details as I do not want to alert them by putting their name here) appear to have the debt reassigned to them - but can the 12 year limit also be reassigned to them or does it revert to 6 years when they buy mortgage related debt?

Sale of a debt does not alter its status one bit.

sapamm · 21 November 2017 at 7:53AM

Thank you. Do you are anyone else know if there is a precedence to this. Since this is the first time I have had a definitive answer I would like to be sure, and for the benefit of anyone else who reads this.

Statute Barred Question

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