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Loan - 5 yrs no contact
declan1979_2
Posts: 8 Forumite
in Loans
Hi,
Quick question i had a loan in Ireland which i think i took out in approx 2003, i've not heard from them in 5-6 years.
I believe there is a ruling where i could not be brought to court only asked to pay it?
TIA
Quick question i had a loan in Ireland which i think i took out in approx 2003, i've not heard from them in 5-6 years.
I believe there is a ruling where i could not be brought to court only asked to pay it?
TIA
0
Comments
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Its called statue of limitations.
Once you get a default and you don't pay anything for six years then it becomes statue barred and the creditor cannot take you to court but they can still ask you for the money but its up to you if you want to pay them but you don't have too.
A default drops off your credit file after six years but sometimes creditors or debt collection agencies get a county court judgement before the default reaches six years old adding another six years on your credit file.
But if you haven't paid anything since 2003 then it looks like it is statue barred
I'm not poor i'm just skint0 -
Irish law may be different though. Or it may be the same.boogiemaster wrote: »Its called statue of limitations.
Once you get a default and you don't pay anything for six years then it becomes statue barred and the creditor cannot take you to court but they can still ask you for the money but its up to you if you want to pay them but you don't have too.
A default drops off your credit file after six years but sometimes creditors or debt collection agencies get a county court judgement before the default reaches six years old adding another six years on your credit file.
But if you haven't paid anything since 2003 then it looks like it is statue barred0 -
Scottish law is 5 years 6 in England0
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Whats it got to do with Scotland ?0
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Do you mean Eire, or Northern Ireland?
Are you saying that you have defaulted on the loan, moved and they haven't traced you? What does your credit file say?
No nearly enough info given to get a meaningful response.No free lunch, and no free laptop
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Its called statue of limitations
No it isn't. It is called 'statute of limitations'. A statue is a very different thing from a statute.I used to think that good grammar is important, but now I know that good wine is importanter.0 -
Not to be confused with the Statute of Liberty...No free lunch, and no free laptop0
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