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Question RE: 6/7 debt cancellation
biffoski
Posts: 23 Forumite
Hi,
I get asked this a lot and there are a lot of opinions on this subject, I was just wondering if anyone could clarify this point.
Do debts get wiped out after 6/7 years?
Cheers
I get asked this a lot and there are a lot of opinions on this subject, I was just wondering if anyone could clarify this point.
Do debts get wiped out after 6/7 years?
Cheers
0
Comments
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do you mean when the debt is paid off in full.. it takes 6 years to come off your credit file ... if you mean re statue barred i think you have to have no contact or acknowledgement for 6 years i dont know for sure though hth
I AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680 -
Well I think they were thinking more along the lines of:
I've ran up a huge debt, ignored it and its coming up to the 6/7th anniversary.
Cheers0 -
dont know about the dates.... i dont know how statue barred works .. and if its different from scotland to england .... its either 6 years for england and 5 for scotland... but you may want to clarify how you have not acknowledged it ... i dont know how it works etcI AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680
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i dont know if they come off your creidt file i think it also depends when the default was put against you there are others who are more clued up on this ....I AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680
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Cheers happytogetdebtfree.
Anyone else who can enlighten me?
Thanks in advance0 -
maybe google has the answers ?I AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680
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Op could check here for advice http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act
A debt is statute barred after 6 years (5 in Scotland) of there being no ackowledement of the debt by you or payments made and as long as Creditor has not obtained a CCJ againt you
the debt is NOT wiped out, it just becomes unenforceable - i.e. the creditor can't force payment (can't take you to court)
Mr 3Dogs 3-7-12 3Dogs'Mam 31-3-13
0 -
I AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680
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Thanks a lot. I have googled it a few times, however I haven't I didnt actually find anything that put it to bed. Thanks again.0
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You need to check if they have obtained a ccj against you or not.
If the have a CCJ it will never be statute barred, if they haven't you're in the clear.0
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