Statute barred???

nixoni

Good afternoon all.

I hope you can help.

I have 4/5 unpaid loans that date back further than 5 years. I live in Scotland.

I have been made aware of Statute Barred, but not fully aware of what this means? i.e the debt is no longer enforceable? But does this mean I no longer owe the debt? Should it still be on my credit file?

I havent a clue.

I also noticed that one or two loans arent even on my credit report although they remain unpaid.

Please dont judge, i know debts are my issue but they are unpaid as a result of unemployment and unemployability.

thanks in advance

fermi

The info in this link should help.

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act

If the debt is statute barred in Scotland, then the debt is "extinguished". So in a legal sense, you obligation to pay would no longer exist.

The slight anomaly is that despite it being 5 years in Scotland, defaulted accounts can still remain on your credit report for 6 years.

So yes, they can still be on your report for a while. But will be removed 6 years after the default.

nixoni

thank you for your reply,

"So yes, they can still be on your report for a while. But will be removed 6 years after the default. "

Does this mean, from the time i first stopped paying it or from the point in time they last received a payment?

The reason i ask is that there have been a few times where my mother has had people at her door (debt collectors) and to get them away has arranged to pay minimum amounts to them spordically and so i am unsure how the land lies?