Statute-barred Debt

nsmith85

Hi Everyone,

I'm new to this forum so hoping someone can help.

I've just recently found out about statute-barred and I have a few bits of debt, credit cards & loans etc, from a good few years ago so looking to clean up my credit file as majority of them are over 6 years old but have a few questions.

1. I live in Scotland where I belive the limit is 5 years instead of 6. This may be a really stupid question, but does the 5 year limit only apply if my creditor is a Scottish company?

2. If I get my dates wrong and I am infact within the 5/6 year period, does writing a letter to them regarding the statute-barred issue imply that you are acknowledging the debt?

Any help or advice would be really appreciated, made a lot of mistakes in my younger days with regards to money and debt and trying to get my life on track and this would be a massive help.

Thanks everyone!

National_Debtline

Hello there.

nsmith85 wrote: »

1. I live in Scotland where I belive the limit is 5 years instead of 6. This may be a really stupid question, but does the 5 year limit only apply if my creditor is a Scottish company?

No, so long as you are officially living in Scotland the general rule is that action has to be taken against you in Scotland, therefore the five year timescale would apply. There are a few exceptions, but they are unlikely to apply for standard credit debts.

2. If I get my dates wrong and I am infact within the 5/6 year period, does writing a letter to them regarding the statute-barred issue imply that you are acknowledging the debt?

It can do, you must be careful in how you word the letter so as not to acknowledge liability. There is a good letter at the end of our fact sheet: http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act

Best wishes,

David @ NDL.