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  • FIRST POST
    • Spaniel1978
    • By Spaniel1978 28th Nov 19, 5:47 AM
    • 3Posts
    • 1Thanks
    Spaniel1978
    Guarantor loan from over 20yrs ago
    • #1
    • 28th Nov 19, 5:47 AM
    Guarantor loan from over 20yrs ago 28th Nov 19 at 5:47 AM
    Morning all, I hope you can help

    Back in 1998, my grandad was a guarantor for a loan for me for a car, which ended up getting stolen and then it transpired that the garage were corrupt and did me out of money for a GAP insurance policy.

    The initial loan was with GE capital woodchester. To cut a long story short, there is still £1631.04 outstanding

    I am being contacted by Link financial who are chasing the debt however I am confused over the last letter they sent me.
    I raised a complaint with them as they kept sending letters to my grandad, to my address despite me proving that he had died over 10 years ago ( I sent the death certificate) they kept sending Ďvalidating you address lettersí not sure how they could do that heís never lived with me. They have eventually taken his name off the account
    My question is, can they still chase the debt from 21 years ago? I asked for the credit agreement which they have sent.. but they have sent me a letter that first states that it is enforceable.. the it states as of 5 November 2019 itís unenforceable until they provide me with the full Reaganís documentation ( unsure what this means as they have sent it) then it says at the bottom of the letter I am still liable.

    Totally confused, happy to attach the letter they have sent ( unsure how on a phone?) and grateful of any advise
    Thank you
Page 1
    • Spaniel1978
    • By Spaniel1978 28th Nov 19, 5:49 AM
    • 3 Posts
    • 1 Thanks
    Spaniel1978
    • #2
    • 28th Nov 19, 5:49 AM
    • #2
    • 28th Nov 19, 5:49 AM
    *relevant documentation not Reaganís...
    • zx81
    • By zx81 28th Nov 19, 6:42 AM
    • 24,739 Posts
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    zx81
    • #3
    • 28th Nov 19, 6:42 AM
    • #3
    • 28th Nov 19, 6:42 AM
    The pertinent question is when was the loan last acknowledged.
    • _shel
    • By _shel 28th Nov 19, 6:58 AM
    • 2,565 Posts
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    _shel
    • #4
    • 28th Nov 19, 6:58 AM
    • #4
    • 28th Nov 19, 6:58 AM
    Have you been paying this loan the whole time? When did you stop Paying?
    • BobQ
    • By BobQ 28th Nov 19, 8:41 AM
    • 10,750 Posts
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    BobQ
    • #5
    • 28th Nov 19, 8:41 AM
    • #5
    • 28th Nov 19, 8:41 AM
    The debt is yours not your guarantors.
    You appear to keep acknowledging the debt by replying to the debt holder
    Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
    • Spaniel1978
    • By Spaniel1978 28th Nov 19, 1:56 PM
    • 3 Posts
    • 1 Thanks
    Spaniel1978
    • #6
    • 28th Nov 19, 1:56 PM
    • #6
    • 28th Nov 19, 1:56 PM
    I canít actually remember the last time I made a payment on there it was well over 15 years ago possibly 17-18yrs, I put the account in dispute due to the gap insurance issue and the it turned out the garage went bump
    • foxy-stoat
    • By foxy-stoat 28th Nov 19, 2:46 PM
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    foxy-stoat
    • #7
    • 28th Nov 19, 2:46 PM
    • #7
    • 28th Nov 19, 2:46 PM
    If you havent acknowledged the debt for over 6 years then it may well be statue barred.
    • fwor
    • By fwor 28th Nov 19, 2:56 PM
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    fwor
    • #8
    • 28th Nov 19, 2:56 PM
    • #8
    • 28th Nov 19, 2:56 PM
    then it says at the bottom of the letter I am still liable.
    Originally posted by Spaniel1978
    This is likely to be wording that is deliberately designed to confuse.

    If you really haven't acknowledged the debt within the last 6 years then it probably is statute barred - but they are also correct in saying that you do still owe the money. However, they cannot take any enforcement action on a statute barred debt.
    • Ben8282
    • By Ben8282 28th Nov 19, 6:43 PM
    • 4,693 Posts
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    Ben8282
    • #9
    • 28th Nov 19, 6:43 PM
    • #9
    • 28th Nov 19, 6:43 PM
    Confused about a few things here.

    How did this corrupt garage manage to do you out of the money for a GAP insurance policy? If you paid them a lump sum to arrange such a policy, did you never think to actually obtain the policy document?
    How long after the purchase was the car stolen? Was the car insured other than by this non-existant GAP policy? Presumably it was if you were able to tax it. What sort of insurance cover did you have?

    Why exactly did you stop paying the finance? Simply because the car was stolen? When you stopped paying why was your grandfather not contacted at the time? A car loan can't have been over that long a period and you say he only died about 10 years ago so that was 11 years after the car was purchased. What happened when your grandfather was contacted? Why did he not take over the payments?

    What was the term of this loan? You say you last paid 15, maybe 17-18 years ago. You purchased the car 21 years ago. You are trying to blame everything on this GAP policy or lack thereof. Was it just a one off payment that the garage pocketed? No annual renewals or monthly payments? i

    I also can't understand why they are writing to your grandfather at your address and am somewhat surprised that you have been corresponding with them in relation to his death.

    Who actually provided this guarantor loan for a car?
    Last edited by Ben8282; 28-11-2019 at 6:49 PM.
    • _shel
    • By _shel 28th Nov 19, 7:04 PM
    • 2,565 Posts
    • 4,778 Thanks
    _shel
    Confused about a few things here.

    How did this corrupt garage manage to do you out of the money for a GAP insurance policy? If you paid them a lump sum to arrange such a policy, did you never think to actually obtain the policy document?
    How long after the purchase was the car stolen? Was the car insured other than by this non-existant GAP policy? Presumably it was if you were able to tax it. What sort of insurance cover did you have?

    Why exactly did you stop paying the finance? Simply because the car was stolen? When you stopped paying why was your grandfather not contacted at the time? A car loan can't have been over that long a period and you say he only died about 10 years ago so that was 11 years after the car was purchased. What happened when your grandfather was contacted? Why did he not take over the payments?

    What was the term of this loan? You say you last paid 15, maybe 17-18 years ago. You purchased the car 21 years ago. You are trying to blame everything on this GAP policy or lack thereof. Was it just a one off payment that the garage pocketed? No annual renewals or monthly payments? i

    I also can't understand why they are writing to your grandfather at your address and am somewhat surprised that you have been corresponding with them in relation to his death.

    Who actually provided this guarantor loan for a car?
    Originally posted by Ben8282
    But if it's statute barred none of that matters. He just needs to send a letter telling them that. https://www.nationaldebtline.org/EW/sampleletters/Pages/Time-has-run-out-to-recover-the-debt-%28sole-name%29.aspx

    Not a chance this company will have the original loan agreement after this long either.
    • Ben8282
    • By Ben8282 28th Nov 19, 9:45 PM
    • 4,693 Posts
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    Ben8282
    But if it's statute barred none of that matters. He just needs to send a letter telling them that. https://www.nationaldebtline.org/EW/sampleletters/Pages/Time-has-run-out-to-recover-the-debt-%28sole-name%29.aspx

    Not a chance this company will have the original loan agreement after this long either.
    Originally posted by _shel
    I agree with what you say.
    • Carrot007
    • By Carrot007 28th Nov 19, 9:49 PM
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    Carrot007
    But if it's statute barred none of that matters.
    Originally posted by _shel

    Yet context always helps people later searching these forums for help on a similar problem.


    All up to OP though, but always nice to hear a yay or nay directly from them.
    • sourcrates
    • By sourcrates 29th Nov 19, 2:58 PM
    • 19,074 Posts
    • 18,019 Thanks
    sourcrates
    My question is, can they still chase the debt from 21 years ago? I asked for the credit agreement which they have sent.. but they have sent me a letter that first states that it is enforceable.. the it states as of 5 November 2019 it’s unenforceable until they provide me with the full documentation, then it says at the bottom of the letter I am still liable.
    Originally posted by Spaniel1978
    Hi,

    Liability, and enforcability, are two entirly different things.
    Debt collectors, especially Link, like to play mind games with you, so they use confusing terminology, hoping you won`t have passed English at school.

    If a debt goes unpaid, you will always remain liable for it, (England & Wales) in Scotland it is extinguished after 5 years of non payment/or from default.

    Liability is not in question, the question is, is the debt enforceable, or not ?
    This is where the Limitations act kicks in, section 5 states :

    "An action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued"

    Basically this means if any period of 6 years has passed since your last payment, or the date of default, whichever is the latter, then the account will be statute barred, and you do not have to pay it.

    Send the SB letter, linked too above, and that should be the end of the matter.
    Last edited by sourcrates; 29-11-2019 at 4:06 PM.
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    • BobQ
    • By BobQ 8th Dec 19, 9:30 PM
    • 10,750 Posts
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    BobQ
    If the debt is statute barred and after 6 years it probably is, there is no problem. But my only question is whether your correspondence with them about your grandfather or whatever, may have inadvertently acknowledge your debt and given them cause to pursue you?
    Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.
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