Hfo services

Flyboy152

MRSWISHYWASHY2 wrote: »

Hiya guys..sorry not been on but been very ill..ive found out when i took the loan out with welcome..it was defo jan 2003..found it on my bank statement..i was paying 100 pound per month ..thats with the insurance..so i dont know if they can still take me to court ...xxx

Thanks for coming back to update us, but what we really need to know is when you stopped paying and when was the last time you heard from HFO, before their recent contact.

antrobus

Mmmm, Welcome Finance. Not a secured loan is it? As I've always understood that the statute of limitations on those was 12 rather than 6 years.

Flyboy152

I would hazard a guess that it is unlikely that it is a secured loan. I can't see a [STRIKE]loan shark[/STRIKE] finance company letting a secured loan ride for six years, but then I can't see them letting an unsecured one go either. :think:

MRSWISHYWASHY2

It was 2yrs ago when i last heard from .them..and i stopped..paying the end of..nov 2003....thats when i went on long time sick..untill feb 01..2004....hope that will help ...xxx PS AND FINSHED WORKING THEN.. AND IT WAS AN UNSECURED LOAN

Flyboy152

MRSWISHYWASHY2 wrote: »

It was 2yrs ago when i last heard from .them..and i stopped..paying the end of..nov 2003....thats when i went on long time sick..untill feb 01..2004....hope that will help ...xxx PS AND FINSHED WORKING THEN.. AND IT WAS AN UNSECURED LOAN

This added information now lets us aware that the debt may not be statute barred under the Limitations Act. From what I understand and I stand to be corrected if I am in error, the statute says that they must have not have pursued you for more than six years, for the limits to be effective. However, they still need to take you to court to get a County Court Judgement against you to recover the money.

They will need to show that they have tried to recover the debt from you and that they have made significant effort in that recovery. They will also need to justify their conditions, charges and interest rates, as the Judge will not look upon them favourably if they are exaggerating their claim.

vikingaero

Flyboy152 wrote: »

This added information now lets us aware that the debt may not be statute barred under the Limitations Act. From what I understand and I stand to be corrected if I am in error, the statute says that they must have not have pursued you for more than six years, for the limits to be effective. However, they still need to take you to court to get a County Court Judgement against you to recover the money.

They will need to show that they have tried to recover the debt from you and that they have made significant effort in that recovery. They will also need to justify their conditions, charges and interest rates, as the Judge will not look upon them favourably if they are exaggerating their claim.

Doesn't matter if they have pursued you or not. It's normal to take the date of the last payment as the date from which to apply limitation. All they need to do in the 6 years is to issue summons, take you to Court, win, gain a CCJ against you. If they have failed to do that in the 6 years from the date of last payment then tough titties.

Debt recovery companies hound people for years after the debt whether statute barred or not.

Fergie76

The 6 years start from last payment or acknowledgement of the debt. Never in any circumstance acknowledge the debt or the 6 years starts all over again.

As others have said as long as you have not paid or acknowledge the debt in the last 6 years then it is statue barred.

You would be better posting this on the loans / DFW board, the will be able to help you and point you in the right direction.