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Chasing

Many years ago I took many payday loans out and never repaid them 10 years later I’m still being chased for them I was told they give up after 6 years but this can’t be true any help would be gratefuly accepted

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    When did you last acknowledge the debt?
  • I’ve never acknowledged it always ignore
  • The debt becomes statute barred 6 years after it was last paid or acknowledged. You can send each one the statute barred letter template if you believe they are out of date. This is assuming they didn't take out a CCJ against you which they are trying to enforce which can mean them coming and taking away your stuff
  • PRAISETHESUN
    PRAISETHESUN Posts: 4,487 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    "Acknowledging" the debt means either corresponding about the debt in writing or making a payment towards it - have you done either of those things in the last 6 years?

    As above the debt becomes statute barred after 6 years if the debt isn't acknowledged and no enforcement action is taken, but if a CCJ is issued then they have an additional 6 years to enforce the judgement. As the accounts are <12 years old, it's possible they are still enforceable if a CCJ has been obtained.

    Can't help more without further information. Can you provide a copy of the letters you are getting?
  • sourcrates
    sourcrates Posts: 30,591 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    edited 23 July 2021 at 11:22AM
    Many years ago I took many payday loans out and never repaid them 10 years later I’m still being chased for them I was told they give up after 6 years but this can’t be true any help would be gratefuly accepted
    This advice assumes no legal action has been taken, if it has, then different advice will apply, so, firstly, are you in Scotland, or elsewhere in the UK ?

    Unacknowledged/unpaid debts in Scotland are extinguished in law after 5 years, they cannot chase you, and you cannot pay the debt, if you do, the money must be returned.

    In England and Wales the law is slightly different, the limitation period is 6 years, and as above, if no payment or written acknowledgement is made by you in any period of 6 years, the debts become statute barred, however, unlike in Scotland, the debts still exist, so you must send the statute barred letter to anyone who writes to you asking for payment.

    If they cannot prove otherwise, then the act see`s to it that although the debt may still exist, it is now unenforceable through the courts, therefore you do not have to pay it, until you inform them of the debts status, they can still chase the debt, and even if statute barred, they can still report to your credit file.

    Should you continue to ignore the matter, they can also still obtain a CCJ/decree against you.

    So its important you send that letter to each creditor as soon as you can.
    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-letter
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