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10 year old car finance
magliondee
Posts: 6 Forumite
in Loans
hi i got car finance 10 years ago just before financial crisis hit , and i lost my job shortly after so i missed payments and car was reposessed ,the finance company sold car through auction and are still looking me to pay outstanding balance ,does this still apply after so long thanks dee
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If you haven't acknowledged the debt or made a payment in the last six years they can't enforce it.0
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thanks i'd heard that somewhere before but wasn't sure0
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magliondee wrote: »thanks i'd heard that somewhere before but wasn't sure
Too add- It's five years in Scotland.0 -
How long ago did you make a payment towards the debt?I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
They definitely cany can't enforce it. So no need to worry. Same happened to me a few years back.0
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There isn't enough info from the OP to assert that with certainty.They definitely cany can't enforce it. So no need to worry. Same happened to me a few years back.
If the OP has acknowledged the debt in writing, or made a payment to it, within the last six years, they can definitely enforce it."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
no i havn't made a payment towards it since i handed them the keys 9 years ago ,thanks for replies its a weight off my mind0
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Don't acknowledging the debt.
Just send a statute barred template letter. Examples here:
https://www.nationaldebtline.org/EW/sampleletters/Pages/Time-has-run-out-to-recover-the-debt-%28sole-name%29.aspx
https://forums.moneysavingexpert.com/showpost.php?p=34906201&postcount=2poppy100 -
thanks everyone for replies ,dee0
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magliondee wrote: »thanks everyone for replies ,dee
You are relying here on sec 5, Limitations act 1980.
If you are contacted for payment, do not just ignore it thinking its statute barred, and it will be OK.
The creditor can still take you to court and obtain judgement against you.
You must write back and tell them it is statute barred, and that you will not be paying.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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