Are my defaulted accounts statute barred?

paramount7force

I received the letter today. here are the important points:

" i would like to point out that the court of appeal has recently provided clarification on when the limitation period commences in debt finance cases. the decision in bmw financial services (gb) limited vs hart (2013) gives finance companies clear direction as to when the limitation clock starts to run. it is not a requirement that the statute barred period commences sic years from when the last payment was made; this can be calculated as being six years from the date when the full account balance became due - i.e. on the date the account defaulted."

"The defaults for each of the above accounts were registered by the original creditor on 19 june 2008. so the accounts would not be deemed as statute barred untill 19 june 2014."

" I have obtained statements for account xx (copies enclosed) which show the last payments made towards the account was on november 29th 2007. Consequently the default was registered six months after your last payment was made towards the account."

" In our view you are liable for the full balance on each of these accounts which are both enforcable in court. However, as these accounts are both subject to the limitation act 1980 within a matter of days, and you have indictaed that you do not inted to settle these debts, i have decided to not pursue the balances further."

So what does all this mean????

fatbelly

It means that they have dropped action on this and do not have confidence in their faulty interpretation of the BMW v Hart case to start a court claim against you.

paramount7force

WHOOP WHOOP FIVE GRAND ERADICATED FROM MY HISTORY! WHOOP WHOOP:beer:

paramount7force

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