Full & Final settlement advice

fatbelly

The relevant limitation period is 6 years. This starts with the default but is restarted by each payment or written acknowledgement.

If it gets to the six-year point it becomes statute barred.

Yes she should stop paying 

penguin10

fatbelly said:

The relevant limitation period is 6 years. This starts with the default but is restarted by each payment or written acknowledgement.

If it gets to the six-year point it becomes statute barred.

Yes she should stop paying 

Cheers - so from 'now' for another 6 years, there is the (I assume small) chance the CCA could appear & at that point she would be given the opportunity to start to repay - is that the case?

penguin10

budg13 said:

Some good news there. Let’s hope for more for her!

Northern Rock - now that’s a blast from the past!!

Yes I had forgotten they existed

RAS

@penguin10, yes, stop paying any further towards either of these debts. One option is to put a small portion of the old payments into a savings fund, so if anything turns up before they are statute barred, she might get a full and final settlement.

I'm going to guess both DCAs will try to sell these on, or return to the one who assigned the debt to them. Henceforth anyone claiming the debt needs a prove-it letter rather than CCA letter, as the CCA letter can be construed as acknowledging the debt and your sister wants to avoid that for the next 6 years. 

Rob5342

Definitely stop paying it now, they always try and downplay the fact that its unenforceable and try and make you think they could find it soon.