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cut off time for creditors to get money off you
kevsadie82
Posts: 34 Forumite
hi does anyone know how long it is before creditors cant demand money off you for old debts?
0
Comments
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Hi
it depends on whethr it is secured or unsecred debt and if there is a CCJ outstanding, and where you live.
In England and Wales, for unsecured debt without a CCJ, once 6 years have passed without payment or written acknowledgement of the debt by the debtor, it is statute barred. Legally the debt stil exists and the creditor can ask you to pay, but once you tell them no, they have no legal recourse.If you've have not made a mistake, you've made nothing0
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