10 year old car finance

magliondee

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

worried_jim

If you haven't acknowledged the debt or made a payment in the last six years they can't enforce it.

magliondee

thanks i'd heard that somewhere before but wasn't sure

worried_jim

magliondee wrote: »

thanks i'd heard that somewhere before but wasn't sure

Too add- It's five years in Scotland.

Dobbibill

How long ago did you make a payment towards the debt?

jasonmood

They definitely cany can't enforce it. So no need to worry. Same happened to me a few years back.

Gaz83

jasonmood wrote: »

They definitely cany can't enforce it. So no need to worry. Same happened to me a few years back.

There isn't enough info from the OP to assert that with certainty.

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.

magliondee

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 mind

poppy10_2

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=2

magliondee

thanks everyone for replies ,dee

sourcrates

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.