Time barred debt - what resets the clock? (scotland)

rogerblack

I am disabled, and have been suffering from depression for the last several years.
Before this, I had hoped to start a small business, and used my credit card for startup funding. Probably not a good idea.

This never happened, and unfortunately, loss of income, combined with severe depression and a lack of incoming cash caused me to stop paying, and start binning the letters.

The depression is getting a bit better, and I'm trying to get a grip of my finances again.

The above debt is about 8K, which as I'm currently on limited benefits, I'm not going to be able to meaningfully pay off.

I know the I stopped any payments on the above debt over 5 years ago, but I'm unsure what might restart the clock, I don't remember exactly what happened during that period.

They have not taken me to court, and I have no CCJs in the above matter.

Does anything other than me writing to them saying 'I owe this, it's a fair cop' (in one form or another), or paying off the debt reset the clock?

Thanks.
Roger.

fermi

Nothing other than acknowledgement in writing or making a payment.

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act

Newsles

Can I ask, what constitutes written acknowledgment?

I ask because my Wife is a Bank of Scotland customer and wants add me to her current account to make it joint.

However, I, as a student, opened a BoS account in 1988 and (as you do) left Uni with an overdraft in 1992. A few cursory payments were made, but when I moved in 1999 the bank lost touch with me and no payments have been made since then.

According to the form, it asks if the person being added is an existing customer of the Bank? Although they could not give details the Bank confirmed (after my wife asked them) that some one of my name and DoB had an account with them.

Short of lying, I assume I will have to say I am a customer wont I? And, this is the question? By doing so - tickng "yes", amd I, indirectly, acknowledging the overdraft debt and therefore resetting the clock so the Bank will be able to pursue me, or will I be able to use the Prescriptions and Limitations Act (1973) to say no, the debt is no longer enforceable? Also, if I do this, I assume the Bank could simply refuse to add me to my Wifes account?

Cheers, Les

Newsles

...oh, and no corresondence has been received from them at this address in 12 years either. Ta

Lensman_2

Without casing a row I would back out of the joint account.

Make breakfast in bed for her on Sunday, then tell her that a joint account might not be a good idea and explain how you will set up standing orders to pay your fair share in to her account instead.

IMO.

National_Debtline

Hello there.

As already mentioned, making a payment (either yourself or via an 'agent' acting on your behalf) could reset the clock. As far as admitting the debt in writing goes, it would have to be an unequivocal admission of the particular debt. Often what constitutes an 'admission' would be down to the facts of each situation.

It's worth also noting that in Scotland once the prescribed time is up the debt is 'extinguished' - which means it no longer exists. In England the debt is still there, and perfectly recoverable via routes other than legal action.

Hope this helps!

David @ NDL.

Newsles

Thanks folks. I did wonder if this was a good idea, but if, as the Nat Debt Rep says, the debt, being in Sotland, is extinguished then I presume there should be no danger of still being liable or of BoS legitimately pursuing me? I suppose though that, if this is the case they could reasonably refuse to put me on the account - especially if they know they cant recoup their loss.

Thanks again. Will consider pending any further advice