Why time bar is bull 30 November 2004 at 11:26AM in Mortgages & Endowments 4 replies 2K views

Garry_Anderson

I see no expert challenged the statement in my first thread - that "This time bar thing is bull".

Any statute on limitations would start from when the "wrong" has stopped - true or false?

e.g. The police can't say to shopkeeper (victim of protection racket), "Sorry sir - even though you are still paying, you signed the agreement with them ten years ago - so you cannot bring charges against them".

Garry_Anderson

Well - as the Financial Experts have no logical counter argument - then it looks like I am correct.

Are we all in agreement then - that this time bar thing is a load of bull - put in place to limit long term damage to a corrupt Financial Industry?

Does nobody see that this is very important point?

Robert_Sterling_3

As no one appears to disagree with you you may assume that everyone agrees with you.

Garry_Anderson

Thank you Robert.

What amazes me - is that everybody in the financial media (inc. BBC Working Lunch) pretends to be vacuous of intelligence.

I take it that they are all too afraid to ask simple questions about the LIES put out by FSA.

What do you think?

Garry_Anderson

"The six year limit only refers to beginning recovery action and does not affect a lender's ability to recover the shortfall debt over a longer period. If there is evidence of mortgage fraud, the new time limit will not apply."

http://www.cml.org.uk/servlet/dycon/zt-cml/cml/live/en/cml/pub_info_dept

Relevant to this is the Limitation Act 1980 - Section 32 - Postponement of limitation period in case of fraud, concealment or mistake

(1) Subject to subsections (3) and (4A) below [relates to innocent third party], where in the case of any action for which a period of limitation is prescribed by this Act,
either--
(a) the action is based upon the fraud of the defendant;
or
(b) any fact relevant to the plaintiff's right of action has been deliberately concealed from him by the defendant;
or
(c) the action is for relief from the consequences of a mistake;

http://www.lawcom.gov.uk/library/lccp151/cp151apa.pdf

Where are all the friendly experts - surely they are not afraid?