Keeping statute barred debt alive

youcangetholdofjules

Hi, I recall hearing a rumour sometime back that debt recovery companies have a way of alerting credit companies and credit reporting agencies that someone has a statute barred debt. They will conduct audits and credit checks in a specific pattern, like once every 30 days, then 45 days and keep repeating this.
It sounds very far fetched, but is there any truth to it?

fatbelly

The only way a debt can be kept from becoming statute barred is acknowledgement by the debtor or their agent. Acknowledgement  must be by payment or in writing.

After 6 years of no acknowledgement, the debt becomes statute barred and stays that way. I think it's s29(7) of the Limitation Act

GHolmesAdmin

It's far fetched.

sourcrates

Good tip going forward, never listen to rumour`s, most likely originated from Sandra on Facebook.

youcangetholdofjules

It kindof smacks of extortion just a bit. I think it would be found out and shut down personally, but yeah, rumours schumours… thanks.