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Is it true?????
kat79
Posts: 115 Forumite
I've been told that if a debt has been dormant ie no action has been taken on it for six years it "disappears". Can this be true?
I knew that settled accounts would disappear from my credit report after six years but this is a new one on me!
Any advice much appreciated!
I knew that settled accounts would disappear from my credit report after six years but this is a new one on me!
Any advice much appreciated!
0
Comments
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most debts are statute barred if no correspondance for 6 years0
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If you have had no written contact with the creditor, or made any payment towards the debt, for six years, then the debt becomes statute barred and can no longer be pursued.
There are, however, certain exceptions, mainly dealing with Crown and Property related debt.
For more information click on the following link:
I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0
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