does a debt have a lifespan?

twistedjez

after 10 years say can you tell them to sling there hooks, does a debt have a lifespan?
or do they chase you to the grave.
wifes had a few phonecalls over a supposed 11 year old debt.

fermi

What sort of debt? How long since she last acknowledges the debt in writing or made a payment?

The debt MAY be statute barred?

See: https://forums.moneysavingexpert.com/discussion/2606811

HappyMJ

They can keep on asking until you are 6 foot under. Then your estate must pay the debt. However, whilst you are still here after 6 years (of non payment and no acknowledgement of the debt) there isn't much they can do.

eyeopener2

HappyMJ wrote: »

They can keep on asking until you are 6 foot under. Then your estate must pay the debt.

I'm not sure this bit is true. If it is, all those on here who have statute barred debts will be paying up after death.

If interest has being accruing as well, for years, then the estate of people would be wiped out.

Could somebody clarify this please?

paulmapp8306

Debts do not have a lifespan. You owe the debt until it is paid, and companies cankeep asking you for it until then.

HOWEVER, after 6 years since a debt was last asckowledged in writing AND 6 years after the last payment was made (as making a payment is asknowledging the debt) it becomes statute barred.

That means the company can no longer chase you legally (through the courts) for the debt. They can still bug/ask you to pay it though until you tell tham to stop making contact as the debt is now statute barred. If they contact you after that is is harrassement and you need contact the relevant government agencies (OFT and others - cant remember who off hand).

Its up to you to tell them to stop and the reasons why though or they can write every day if they wish.

Starbrite

Oh this is rather interesting, I have £1,000 outstanding to a mobile phone company from 2001. In er around 2006 time when I was clearing my debts I rang them gave all of my details. The chap I spoke to was unable to find me.

He did several searches and advised me he cannot find any record of me or the bill. He advised me on the phone off the record, Not to pursue paying the debt back as he couldn't locate the debt.

I've not heard from anyone reguarding the monies I owe and I've often wondered what to do about it. It's not come up on the credit report I got earlier this year either.

Has this been written off as they say or do I still owe someone this money?

Gordon_Hose

Debts never get written off. As paulmapp8306 says, they can't pursue you through the courts after 6 years provided there has been no payment or written acknowledgement in that time.

You will always owe the money, they just can't force you to pay it.

endora

After 6 years it's not written off but it's statute barred which means they can't make you pay. If they try to chase after the 6 year period you need to send a letter stating the debt is SBd thus you will not pay it. They shouldn't be chasing you after that, if they do they are in breach of the OFT debt collection guidance.

endora

Starbrite wrote: »

Oh this is rather interesting, I have £1,000 outstanding to a mobile phone company from 2001. In er around 2006 time when I was clearing my debts I rang them gave all of my details. The chap I spoke to was unable to find me.

He did several searches and advised me he cannot find any record of me or the bill. He advised me on the phone off the record, Not to pursue paying the debt back as he couldn't locate the debt.

I've not heard from anyone reguarding the monies I owe and I've often wondered what to do about it. It's not come up on the credit report I got earlier this year either.

Has this been written off as they say or do I still owe someone this money?

It will be well and truly SBd and any default would have dropped off your credit file 6 years after it was recorded so it won't come up ever again. Strictly speaking it may not be written off but for all practical purposes you should just forget about it. They're not chasing you, they can't enforce through the courts and it's not on your credit file so no point in wondering what happened to it.

fermi

twistedjez wrote: »

after 10 years say can you tell them to sling there hooks, does a debt have a lifespan?
or do they chase you to the grave.
wifes had a few phonecalls over a supposed 11 year old debt.

Oh. And I forgot to ask.

Are you in Scotland? Or England/Wales/NI?