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Statute Barred.
Leon_Telford
Posts: 109 Forumite
Keep hearing the term. What does it mean.
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Leon_Telford wrote: »Keep hearing the term. What does it mean.
<deleted link>
"Basically, if a lender doesn't contact you about the money you owe them - and you don't make any payments or contact them about it either - the debt may become unenforceable, meaning the lender is no longer allowed to do anything to try and recover the money".Like all religions, the Faith of the Invisible Pink Unicorn is based upon both logic and faith. We have faith that she is pink; we logically know that she is invisible because we can't see her."0 -
That article is very very wrong.
The lender trying to contact can never ever prevent a debt becoming statute barred.
They could send you a letter every day for the entire 6 years, and that still wouldn't stop the debt becoming statute barred at the end of it. :rotfl:
Someone somewhere at one point has written that, and unfortunately a lot of websites that should know better have copied that tripe. :mad:
Even PayPlan were daft enough to put it on their site.
See: https://forums.moneysavingexpert.com/discussion/3194160
PlayPlan and others took that rubbish down when it was pointed out.
Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
There is more reliable information in this link if people want something.
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_actFree/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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