help

rubytob

I took out a loan after uni in a european country(ireland) to enter into a graduate job. This was approx 6-8 years ago, I think 7 but am unsure.

I left the job after 3 months due to personal issues and came back to uk.
I have since had numerous addresses and never heard about debt again.

Yesterday I had a letter, to one of my old addresses, not my current address from a scary agency. They are trying to make me pay 10thousand euros. I don't have this - no.1, I am unemployed due to an illness and secondly I have never heard from them.

My friend said that a debt after a set period is written off. Is this the case? I am terrified of debt collectors I had a prob with them years ago for not deferring my student loan , they were scary. The people trying to contact me are from another euro country and I am really afraid, BUT they haven't tracked me here. What should I do?

I also know that when bad debt is sold it is not for the full value of the arrears, ie they can buy debt very cheaply.
Again I just need help, it has taken them 6 -8 yrs, say 7 definately to find my old address, should I ignore it?

ILW

rubytob wrote: »

I took out a loan after uni in a european country(ireland) to enter into a graduate job. This was approx 6-8 years ago, I think 7 but am unsure.

I left the job after 3 months due to personal issues and came back to uk.
I have since had numerous addresses and never heard about debt again.

Yesterday I had a letter, to one of my old addresses, not my current address from a scary agency. They are trying to make me pay 10thousand euros. I don't have this - no.1, I am unemployed due to an illness and secondly I have never heard from them.

My friend said that a debt after a set period is written off. Is this the case? I am terrified of debt collectors I had a prob with them years ago for not deferring my student loan , they were scary. The people trying to contact me are from another euro country and I am really afraid, BUT they haven't tracked me here. What should I do?

I also know that when bad debt is sold it is not for the full value of the arrears, ie they can buy debt very cheaply.
Again I just need help, it has taken them 6 -8 yrs, say 7 definately to find my old address, should I ignore it?

The debt is not written off if they have tried to pursue it. it it not the lenders fault if you have in effect done a runner.
I think you need to get in touch with them and try to sort something out. After all you do still owe the money.

petermb_2

rubytob wrote: »

I took out a loan after uni in a european country(ireland) to enter into a graduate job. This was approx 6-8 years ago, I think 7 but am unsure.

I left the job after 3 months due to personal issues and came back to uk.
I have since had numerous addresses and never heard about debt again.

Yesterday I had a letter, to one of my old addresses, not my current address from a scary agency. They are trying to make me pay 10thousand euros. I don't have this - no.1, I am unemployed due to an illness and secondly I have never heard from them.

My friend said that a debt after a set period is written off. Is this the case? I am terrified of debt collectors I had a prob with them years ago for not deferring my student loan , they were scary. The people trying to contact me are from another euro country and I am really afraid, BUT they haven't tracked me here. What should I do?

I also know that when bad debt is sold it is not for the full value of the arrears, ie they can buy debt very cheaply.
Again I just need help, it has taken them 6 -8 yrs, say 7 definately to find my old address, should I ignore it?

There is a time limit of 6 years. That six years is from the last time you paid or there was communication regarding the debt. If you have had no contact from anyone regarding the loan in the last 6 years it is actually time barred. Approximate is not helpful in such a situation.

If there has been any form of contact in that time the six year clock starts again from that point.

anotherpaul_2

Before you do anything, you should probably take proper advice. Someone like the CAB may be able to help, or they may be able to refer you to a specialist in Irish law.

If it were a UK loan, and you've made no payments or admitted that the debt exists for 6 years, it would be statute barred and unenforceable.

However, since this is not a UK loan, the rules in force are likely to be different. I suspect that there are few people here which extensve knowledge of Irish financial law, hence the need to take proper advice.

However, if you didn't tell them that the loan was valid (unfortunately, I suspect you probably did), don't in future, in case this affects things.

fermi

The law in Ireland seems to be equivalent to that in England/Wales a far as time barred debts are concerned. --> Here.

The limitation period there is also 6 years.

However, as far as I know the creditor would have to take legal action in the UK.

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

A factsheet outlining the position here is below.

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

If you are uncertain, the call National Debtline free on 0808 808 4000 to talk your situation through with a professional advisor.

Robert_Sterling

Congratulations on keeping your address from nosey parkers for quite a while.

rubytob

Thanks to all for your help. I have made no contact with the bank since I left my 3 month job. It was def 7 years ago as I've just checked, but so much went on in my life return to uni, new addresses etc I genuinely out it to the back of my mind and over the yrs forgot.
I will take all your advice on board, what about the debt collectors? Is it in my rights to say the debt is non enforcable, or is it non enforcable simply through the bank?

rubytob

Fermi, thank you so much in particular for your advice. It was really helpful and the links you have provided at least give me something to base my defense on. Thanks again, you went over and above the call of duty and I very much appreciate it

ILW

is it true then that if I take a loan and can hide from the lender for 6 years then it becomes statute barred and I then have no liability? Sounds interesting.

fermi

ILW wrote: »

is it true then that if I take a loan and can hide from the lender for 6 years then it becomes statute barred and I then have no liability? Sounds interesting.

Not that simple.

Should the creditor obtain a court judgement on the debt before the 6 years is up, then that prevents the debt becoming "statute barred". That is very easy for the creditor to do, even in the absence of contact info for the debtor. It is sufficient for papers to be sent to the last known address.

If a creditor fails to do this then they have shot themselves in the foot basically.

(Although it would be interesting to see how that would work in the OP's case given the jurisdiction issues)

Plus, a statute barred debt is still owed. The creditor is just precluded from enforcing it through the courts. They had six years to do that after all, and didn't bother.

loolabelle

I also have a debt in southern ireland, i left 2 1/2 years ago, since my departure i believe it was taken to court in my absence (my post was forwared to me by friends who still live at that address) the debt was for around 4000 euro, i'm not entirely sure, can or would they take steps to trace me (they have no idea where i am) or would they be likely to chase me in the furture, am i right in saying if it was taken to court the debt cannot be staute barred? and if i have a CCj equivelant in southern ireland how long does that last for do you think.

Any constructive advice welcome.