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bankruptcy

queenschina
queenschina Posts: 9 Forumite
in Debt-free wannabe
Hi, does anyone know how many years exactly it takes for creditors to take you for bankruptcy in scotland? Its been 4yrs, 2months since I defaulted and I rarely get any debt letters, even tho I owe 14,620. I have no money to pay any off it back and was told to wait for the creditors to take me for bankruptcy as I have been ill and can't pay it. Thanks.
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Comments

  • RAS
    RAS Posts: 36,547 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Hi

    Speka to one of the debt charities listed here - NDL and CCCs both have Scotish advice sections.

    http://www.moneysavingexpert.com/loans/debt-help-plan#help

    On the other hand, if you search NDL scotland, you will find that the debt becomes statute barred 5 years after the last payment or written acknowledgement (not the date of default).
    If you've have not made a mistake, you've made nothing
  • BigCraigJohn
    BigCraigJohn Posts: 1,082 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Dont contact them. As far as I know if theres no contact or acknowlegement of the loan for 6 years(think it might be less in Scotland) that the debt becomes statute barred and they can not take you to court for it. They can chase you and ask you to pay it but can not take action. Sure someone will confirm or correct me on this.
  • queenschina
    queenschina Posts: 9 Forumite
    Thanks I will have a look.
  • RAS
    RAS Posts: 36,547 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    In Scotland after the 5 years the debt is not just uncollectable, it is wiped out.
    If you've have not made a mistake, you've made nothing
  • BigCraigJohn
    BigCraigJohn Posts: 1,082 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    RAS wrote: »
    In Scotland after the 5 years the debt is not just uncollectable, it is wiped out.
    I'm moving to Scotland :eek:
  • queenschina
    queenschina Posts: 9 Forumite
    RAS wrote: »
    In Scotland after the 5 years the debt is not just uncollectable, it is wiped out.

    That means I only have 10 months until its wiped clear if I'm not taken for bankruptcy before it. Is it from the date of default, the 5yrs counts from? Thanks :T:j
  • RAS
    RAS Posts: 36,547 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    No

    it is the last date of payment or written acknowledgement.

    Default date is usually 3-6 months after the last payment.
    If you've have not made a mistake, you've made nothing
  • queenschina
    queenschina Posts: 9 Forumite
    BigCraigJohn wrote: »
    Dont contact them. As far as I know if theres no contact or acknowlegement of the loan for 6 years(think it might be less in Scotland) that the debt becomes statute barred and they can not take you to court for it. They can chase you and ask you to pay it but can not take action. Sure someone will confirm or correct me on this.

    I have acknowledged the debt as they have my telephone number, what difference have I made to the 5yrs ? thanks
  • RAS
    RAS Posts: 36,547 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    it has to be written contact. Do not write to them without adding "i do not acknowledge any debt to your company." to the letter.

    preferably simply do not write to them.
    If you've have not made a mistake, you've made nothing
  • queenschina
    queenschina Posts: 9 Forumite
    RAS wrote: »
    No

    it is the last date of payment or written acknowledgement.

    Default date is usually 3-6 months after the last payment.

    Thanks

    How do I find out if its wiped out or not nearer the time? Also I have acknowledged the debt by telephone.
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