How long does a debt last?

richie66

I hope someone can help me on here.
In 1999 I purchased a car and after a while I couldn`t afford the repayments as I got made redundant, so the car got re-possessed, the car went to auction and sold for a few thousand and got a letter to say that I had to pay the balance, that was the last time I have heard from them, today I got a phone call from someone to say they took the debt over in 2011, to be honest its been that long I forgot all about it as I didn't have any contact from them although I did move house nearly 7 years ago but they still had time to contact me at my other property, point is its nearly 14 years ago sinse I got the car and only had maybe a couple of years but this woman phones me this morning to say I have to pay £5000 to them and gave me until the end of the month, anyone know where I stand.
Thanks in advance for any advice

Stewart_78

Richie, I would expect that is also statute barred. They are just trying it on. You do still owe the money and they can ask for it forever but it's not enforceable in court ie. realistically other than keep asking, there is nothing they can do to get money out of you.

[Deleted User]

yorkie1980 wrote: »

Now I have heard the rumour that a debt is wiped off after 5 years, which made me wonder if I should just leave it?

A debt is never "wiped off" unless/until it is paid off.

It becomes statute barred after 6 years (5 in Scotland) of non-payment/non-acknowledgement, provided a CCJ has not been obtained, but being SB doesn't mean the debt no longer exists.

[Deleted User]

bevan77 wrote: »

they acknowledged the debt as statute barred, but however they claim that as I said I would talk to friends/family about the debt counts as an acknowledgement and I am still liable.

Once a debt is SB, it's SB forever.

It cannot be un-SB'd, whether you acknowledge or not.

BTW. You are (and always will be) liable for the debt, but it can no longer be enforced.

fatbelly

richie66 wrote: »

I hope someone can help me on here.
In 1999 I purchased a car and after a while I couldn`t afford the repayments as I got made redundant, so the car got re-possessed, the car went to auction and sold for a few thousand and got a letter to say that I had to pay the balance, that was the last time I have heard from them, today I got a phone call from someone to say they took the debt over in 2011, to be honest its been that long I forgot all about it as I didn't have any contact from them although I did move house nearly 7 years ago but they still had time to contact me at my other property, point is its nearly 14 years ago sinse I got the car and only had maybe a couple of years but this woman phones me this morning to say I have to pay £5000 to them and gave me until the end of the month, anyone know where I stand.
Thanks in advance for any advice

Anyone who last acknowledged a debt at the date this thread first started would find that it is now statute barred!

This sounds like an HP or PCP agreement so the clock may not have started ticking until the contract was terminated.

Provided that was before this thread started, that you have not acknowledged the debt by payment or in writing since, and there was never a county court money claim on it, the account is statute barred.

I think that you should wait until the current owner of the account (or their collectors) actually write to you (please don't discuss this on the phone - just say 'put it in writing' and put the phone down) and then respond with the statute barred letter.

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

richie66

Hi


My follow up.


I last posted in August 2013 about a debt in 1999.


I have not heard a thing from these people sinse then, but now they seem to have turned there attention to my wife as it was a joint debt.


She got a letter from PRA saying she owed £5099.76 and would take a single payment settlement of £3059 saving over £2000, my name was not mentioned on this letter even thou it was a joint one, looks like because I ignored them they though my wife would be an easy option, should she just ignore them or send them a letter stating its statute barred.


Just one more thing, how would we know if there are any ccj if we have not heard from them sinse 1999.


Thanks in advance for any advice

Tixy

Richie - I would suggest she sends them the statute barred letter.

In terms of a CCJ - if they did obtain one within 6years of the date the car was auctioned you would very likely have heard about it long before now. Even if they did obtain a CCJ over 6years ago it is very unlikely a court would give them permission to enfore that date now.

-taff

And to check, join Noddle and look at your credit report. It's free.