Companies reclaiming old debt? Info please!!??

GCL

Hi,
My other half had a credit card debt, before we met about 8 and a half years ago. At the time, on the advice of the CAB, he contacted the bank to offer to pay back the debt monthly. They never replied and we have not heard anything since, until this month when a debt collecting agency sent a letter asking for the debt to be repaid and then offering to half the amount to close the account, in both letters they have threatened 'further action'. We have moved recently and the letters were sent to the old address, we only received it as we had set up redirection. Is this debt still valid and are we still liable to pay it? - i was under the impression that if they make no effort to contact you the debt becomes void after 7 years, and whereas i am willing to clear it if it is valid -i dont want to pay it if they are just fishing and we are no longer liable for it?

thanks

fermi

If you have not acknowledged the debt yourself in writing or by making a payment for a period of 6 years then enforcement of the debt is "Statute Barred" under the "Limitation Act".

There is a factsheet (and letter to write) here:

Factsheet | Liability for Debts and the Limitation Act

Have a read through and see if it applies to you.

Note: In Scotland the limitation period is 5 years, and there is a different letter to write here.

If in doubt give National Debtline a call.

GCL

Thank you for that - if i send them this letter that doesn't count as acknowledging the debt does it?
Thanks
G

PayPeanuts_2

You need to write 'without prejudice' at the top of the letter. It means they can't use it in any legal proceedings against you as far as I know.