Statute Barred

carpfanatic

In 1999 I had a car reposesed by On Line Finance. I had paid regular for 12 months and then missed 2 months and they came to my work and took it back.

They then said I had to pay them almost the whole borrowed sum without taking off what I had paid and the resale value of the car.

I refused to pay and that was 1999-2000

I have had many letters from different companies saying they want the money and I have paid nothing.

I have just had another letter from another company and I would like to know if the debt is statute barred as it was over 6 years ago and nothing has been paid since 1999 and no-one has taken me to court.

I would be grateful for any help

petermb_2

If you have had no communication regarding the debt or paid any monies within 6 years then it will be statute barred.

fermi

From a previous thread:

A debt will be "Statute Barred" if there has been no acknowledgement of the debt by you making a payment or in writing within the relevant limitation period.

If you are in England/Wales then the limitation period is 6 years and you should read:

Link: Factsheet | Liability for Debts and the Limitation Act (England/Wales)

If you are in Scotland then the limitation period is 5 years and you should read:

Link: Factsheet | Liability for debts & the Prescription & Limitation (Scotland) Act 1973

If you feel the debt is "Statute Barred", then there is a letter to write at the end of each factsheet.

If you are unsure of anything, then give National Debtline a call free on 0808 808 4000 to talk your situation through with a professional advisor.