Cabot Financial

jackjones01

tigergambit said:

jackjones01 said:

I just thought I’d share an update on this matter. I’ve received a letter saying my accounts been closed as the debts now extinguished under Scottish law. 

Great news! Well done and thanks for sharing.  Hope your mortgage application goes well.

Yes great news - even though I’ve only lived in Scotland a year. I’ve recently learnt the 5 year rule wouldn’t apply to me as the debt was taken out in England. However I’m not going to complain 

ManyWays

jackjones01 said:

Yes great news - even though I’ve only lived in Scotland a year. I’ve recently learnt the 5 year rule wouldn’t apply to me as the debt was taken out in England. However I’m not going to complain 

I am not a solicitor, so I may not be right, but what I thought mattered was NOT where you lived when you took the debt out, but where you lived when the creditor first had the right to sue you, ie after a Default Notice.

For you, it sounds as though these were both in England. But I thought it is worth making the distinction for anyone else who reads this,