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ssrkhawkins
Posts: 11 Forumite
Just want to get a little feed back.
Me and the wife took out a loan and credit card nearly 6 years ago and then things changed within our personal lifes that made it impossible to repay at the amount agreed. We got behind on our repayments and then defaulted. The loan and credit is not secured againced our home, we still rent and we have very little in the way estate.
Do the same rules apply? If they've not taken legal action in 6 years are they barred from doing so in the future?
Me and the wife took out a loan and credit card nearly 6 years ago and then things changed within our personal lifes that made it impossible to repay at the amount agreed. We got behind on our repayments and then defaulted. The loan and credit is not secured againced our home, we still rent and we have very little in the way estate.
Do the same rules apply? If they've not taken legal action in 6 years are they barred from doing so in the future?
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As far as I know its six years from the date of the last contact with the creditors.So six years from default or last contact.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0
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