Debt from +6 years ago

Mangosun33 · 1 July 2014 at 9:59AM

Hi,
I have a bank that is chasing me for a debt I had with them over 6 years ago (more like 8) and have not heard from them until now. Trouble is they have located me at my new address and as this debt is over 6 years ago am I in a position to refuse to pay? How does it work? I am worried the debt is going to put bad credit on the property as it is my partners.

Any help much appreciated.

Thanks

Tixy · 1 July 2014 at 10:02AM

Hi

It sounds very likely that this debt could be statute barred. Which part of the country are you in? (as the laws are different in scotland to the rest of the UK).

Do you know what sort of debt it was (overdraft/card/loan etc).

Have they written to you to chase the debt? or contacted you by phone?

Voyager2002 · 1 July 2014 at 10:12AM

And just to reassure you: a history of bad debt is linked to a person, not a property. So the only way you could affect your SO's credit rating would be by having a financial association (joint bank account or other financial product).

Mangosun33 · 1 July 2014 at 10:23AM

Thanks I am London (UK) and it was a loan. I haven't been contacted by the bank itself, It's a debt collection agency.

Mangosun33 · 1 July 2014 at 10:42AM

The Debt collection agency have sent me letters informing if I do not contact them within 7 days they will take it further (to court I assume) and I don't know whether to just ignore them or write a letter telling stating that I know my rights etc?