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Statuate barred, is it only if u dont make payment?
lilly153
Posts: 158 Forumite
can somebody explain Statuate barred for me quickly ive tried researching it but its rather confussing
is it only if u dont make payment or contact with the debt in question for 6 years the debt becomes statue barred?
what happens if u have still been recieving letters but ignoring them for the last few years but still not made any contact with the company or made a payment is this still classed as Statuate barred after the 6 year period
im in scotland if that makes any difference
is it only if u dont make payment or contact with the debt in question for 6 years the debt becomes statue barred?
what happens if u have still been recieving letters but ignoring them for the last few years but still not made any contact with the company or made a payment is this still classed as Statuate barred after the 6 year period
im in scotland if that makes any difference
0
Comments
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It is written acknowledgement of the debt by you or payment by you that can reset the 6 years.
A creditor cannot stop that time running by writing to you. You ignoring letters does not stop that time running.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Oh, and in Scotland it's 5 years, not 6.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
thanks for the quick response
does that mean after the 5 years these debts will fall off ur credit report so to speake then?0 -
No, defaulted accounts stay on your credit report for 6 years not 5. Even in Scotland.
The fact that they become statute barred earlier in Scotland doesn't make them come off your credit report sooner.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
ahh ok thats what i was looking for thank you uve been a great help, cheers 0
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