UPDATE Statute Barred Yet?

Manb91uk

Hi everyone,

This is my first post, as I was hoping to get some info as to whether my last default/oldest debt is already statute barred or whether I still have to hold my breath...

I took out a CDL from Barclays to further my studies in 2012 (with payments not supposed to take place from 2013) and was never able to make a payment at all. No CCJ or contact over this period.

It is now starting to disappear from my credit report, and was wondering whether this is statute barred already or, under the new 'default date' system, I still have to wait until next year?

Sorry if this makes little sense, I hope I can get some help!

sourcrates

Simple contract debts become statute barred six years from the date of default.
Unless a payment has been made since it defaulted, in which case the date of the last payment would be the cause of action date.

Manb91uk

Okay, so it's the default date? I was always under the impression that it was the last payment/acknowledgement?

For clarification, I have never paid or acknowledged this debt in writing since signing the agreement.

sourcrates

Recent appeals court ruling now says default date is cause of action date, unless otherwise as stated above.

Manb91uk

Eep! I was hoping as an older debt, the previous statute of limitations rulings would hold. Seeing as it may already have been barred they can't really turn around and say "Whoops! It's not barred anymore.... Lolsorrie!"

When did the rules change? I'm thinking if something comes up I could still argue the change based on dates and historical precedent?

fatbelly

Manb91uk wrote: »

Eep! I was hoping as an older debt, the previous statute of limitations rulings would hold. Seeing as it may already have been barred they can't really turn around and say "Whoops! It's not barred anymore.... Lolsorrie!"

When did the rules change? I'm thinking if something comes up I could still argue the change based on dates and historical precedent?

The interpretation of the 'rules' was clarified in January this year by the case PRA Group v Doyle

Manb91uk

If a debt was statute barred already, surely the new rule wouldnt affect this?

Do you know where I might find any transcripts or similar from this case?

Manb91uk

"Sir Terence Etherton MR, giving the judgment of the Court, held that limitation commences from the date specified in the default notice for payment of the arrears"

In the event that this does go to court, I could argue that the limitation period goes beyond the date of the Defaulf Notice as it would surely make reference to the prior missed payments, correct? Under this interpretation the debt can argued as already statute barred?

fatbelly

You need to find out when the default notice was issued

sourcrates

Manb91uk wrote: »

"Sir Terence Etherton MR, giving the judgment of the Court, held that limitation commences from the date specified in the default notice for payment of the arrears"

In the event that this does go to court, I could argue that the limitation period goes beyond the date of the Defaulf Notice as it would surely make reference to the prior missed payments, correct? Under this interpretation the debt can argued as already statute barred?

fatbelly wrote: »

You need to find out when the default notice was issued

Creditors do not always default straight away on expiration of the default notice deadline for payment, there can be many weeks or months until its actioned in some cases, occasionally not at all.

So perhaps advice had better change on this, the default notice now becomes a very important piece of paper, the date refered to on it for bringing the account back up to date, effectivly becomes the cause of action date, which is not always the actual date of default.

Manb91uk

According to my credit file (I never received a default notice) the default date was 30/07/2014 with the first missed payment recorded in January of the same year. This was a career development loan opened in October 2012 with payments not due to start until November 2013 but I was given a two month payment holiday due to having a change in circumstances (long story)