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alliance and leciester secured loan in 2007
1220Lifeboat
Posts: 8 Forumite
Can Alliance and Leceister being a dormant company now come after me for monies owed
over 6 years ago I went to FOC but they werent regulated for that policy.
On credit search they put mortgage and Santander and arrears over 6 years ago
so they lost my account i couldnt pay as Santander sent loads of letters saying it wasnt with them
then found a little alliance and leciester room with a few staff in it now they want money.
How can i proceed
surely if its dormant they cant do anything
over 6 years ago I went to FOC but they werent regulated for that policy.
On credit search they put mortgage and Santander and arrears over 6 years ago
so they lost my account i couldnt pay as Santander sent loads of letters saying it wasnt with them
then found a little alliance and leciester room with a few staff in it now they want money.
How can i proceed
surely if its dormant they cant do anything
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Comments
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Surely they can.
If it's a mortgage, it won't become statute barred for 12 years.0 -
it was a secured loan not mortgage0
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If a lender buys another one and takes on their books, then yes the new owner can chase you for debts. If it was a loan secured on a property for example then it doesn't go away - the charge is still there
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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