Secured debt on property - advice please

sourcrates

Hi,

You can't use the Limitations act as a defence against this debt as the creditor would of obtained a CCJ against you in order to put a second charge on your property.

That said, creditors are expected to exercise there rights within 6 years of judgement been made, they would have to go back to court in order to get an order for sale, a judge may take the view they have had long enough already, and dismiss there claim.

It would depend on a number of factors though, as nothing is clear cut in situations like this.

fatbelly

teddy54 wrote: »

I discussed this with a close friend, he is adamant that even though the debt is secured by a final charging order on my property it can still be statute barred? He seems to recall reading about a similar case in the past.

He's wrong.

I've no idea what he's thinking about