Debt after 15 years

Rosem_2

I received a letter on Saturday threatening me with bankrupcy if a debt of £1300 was not paid this week. After speaking to the firm today they said they would accept £900 if paid quickly. It is regarding a car that I had in 1990 but sold on. I have no paperwork regarding this debt and cannot remember what happened. Am I still liable after 15 years. This is the first time that I have been approached about this debt.
Probably doing this wrong way but new to this, thanks to everyone for advice. I have been to trading standards and have sent a letter to debt collecting agency (recorded delivery). I have moved house once in the 15 years so don't know whether that makes a difference although the post was redirected for 9 months. Thanks again
JUST TO SAY THAT SO FAR (TOUCH WOOD) HAVE NOT HEARD ANYTHING FROM DEBT COLLECTING AGENCY. THANKS FOR ADVICE

pin

I think (and I say I think, am not sure, will have to check at work tomorrow to be doubly sure) law of limitations gives only a 12 year time frame to bring an action against someone. However I would need to check.

Debt_Free_Chick

For most debts, the Law of Limitation cuts in after 6 years. Full details here

http://www.nationaldebtline.co.uk/england_factsheets/factsheet_25.php3

The threat of bankruptcy is a scare tactic. It would cost them £1000s to petition for your bankruptcy, so they won't bother. But they're hoping you'll be scared into coughing up.

Read the information in the link carefully and if you fit the bill, send the letter telling them they are "out of time". Someone else here has had success using this letter

Good luck

TRAVELMAN_2

Hi-whatever you do do not acknowledge the debt in writing-ie sending an income/expenditure form...etc..

Debt free chick & previous poster is correct-they have 6 years from the date of default to take you to court. If they have not done this in 6 years you still owe the money but CAN'T BE FORCED TO PAY IT.

You can search to see if you have a County Court Judgement against you (If you think the Court Judgement was given at a previous address) at http://www.registry-trust.org.uk/searchintro.aspx . IF NO COUNTY COURT JUDGEMENT IS ENTERED you do not have to pay.

Hopefully this puts your mind at rest!

Kind regards,

Chris

Nicky_3

This debt IS Statute Barred and although you legally still owe the money, the creditor can no longer take legal action to recover the debt AND, if you inform the creditor you will not be paying this debt, they cannot pursue you for it otherwise it could be seen as harrassment.

If the 15 years is from the last point of you acknowledging you owed this debt, then there is no court on this land who will be intereted in this creditor and they will not beable to make you bankrupt. They are having a laugh!

As TravelMan said, as long as this creditor has not yet taken any legal action, they might as well whistle. Write to them, explain that the debt is Statute Barred and you will not be paying, and any if they continue to contact you, inform them you consider this as harrassment and will be reporting them to The Office of Fair Trading.

pin

Just to confirm, like everyone else has said, the debt is barred. 6 years for simple claims and 12 years for claims involving deeds. As your debt doesn't include a deed (I don't think), then the 6 year rule applies. Make sure when you write to the debt collection agency its in the form of recorded post, this will hold as proof that you sent a letter to them notifiying they cannot chase you as the action is time barred.