2001 loan

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Boozyfloozy
Boozyfloozy Posts: 8 Forumite
in Loans
I have recently received a letter about a loan my ex husband and I took out in 2001 - my ex husband was replying this but he went bankrupt several years ago - the company who the loan transferred to are now chasing payment - does anyone know where I stand regarding this or where I can get help as I can’t afford to repay - thank you
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  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    Boozyfloozy wrote: »
    I have recently received a letter about a loan my ex husband and I took out in 2001 - my ex husband was replying this but he went bankrupt several years ago - the company who the loan transferred to are now chasing payment - does anyone know where I stand regarding this or where I can get help as I can!!!8217;t afford to repay - thank you


    So it was a joint loan ?


    So he was paying it ?


    Who is it from, the loan ?


    When was the last payment made ?


    You say he went Bankrupt several years ago, so more than 6 ?
    If they wanted payment they should have done this at an earlier point but as he went bankrupt I believe it wiped the debts or hes not liable anymore.



    If that's the case its possible they aren't due anything but are hoping you will pay up.
  • System
    System Posts: 178,094 Community Admin
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    DCFC79 wrote: »
    If they wanted payment they should have done this at an earlier point but as he went bankrupt I believe it wiped the debts or hes not liable anymore.
    Indeed. He isn't but as its a joint loan she is.

    OP if you've not acknowledged it at any point in the last 6 years it is statute barred.
  • Boozyfloozy
    Boozyfloozy Posts: 8 Forumite
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    It was a joint loan and when he went bankrupt they said I had to pay but I can!!!8217;t remember the last time a payment was made - think he went a bankrupt about 6 or 7 years ago. Loan was originally taken out with GE for about £3500 and apparently I owe £2900!!!! I contacted them and have asked for all the paperwork they have to be sent to me so I can have a look at what!!!8217;s been going on
  • BrassicWoman
    BrassicWoman Posts: 3,202 Forumite
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    secured or unsecured?
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  • Boozyfloozy
    Boozyfloozy Posts: 8 Forumite
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    It was an unsecured loan. It was for double glazing
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    edited 26 May 2018 at 6:54PM
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    Boozyfloozy wrote: »
    It was an unsecured loan. It was for double glazing


    If your partner was made bankrupt, they'll no longer be liable for any debts that you have jointly with them. However, you will still be liable for the full amounts.

    Your creditors could pursue you for payment of the full amount of any joint debts you have with your bankrupt partner.

    This is because when you take out a joint credit agreement, you both agree to be responsible for the full amount of the debt.

    This is called joint and several liability.

    In practice, this will only usually happen if you're working.

    Also the Limitations act will apply if there has been a gap of 6 years (England@nWales) or 5 years if your in Scotland, without payment or written acknowledgement.


    Full info here on statute barred debts :


    https://www.nationaldebtline.org/EW/factsheets/Pages/time-limits-for-recovering-debts/statute-barred-debt.aspx
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  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    Tarambor wrote: »
    Indeed. He isn't but as its a joint loan she is.

    OP if you've not acknowledged it at any point in the last 6 years it is statute barred.

    Thanks, yes a good point.
  • Boozyfloozy
    Boozyfloozy Posts: 8 Forumite
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    :Thank you for your replies hopefully when the paperwork comes through I can see the timescales involved and take it from there - I already have a DMP which was reducing nicely but this debt is definitely a thorn in my side :(
  • Boozyfloozy
    Boozyfloozy Posts: 8 Forumite
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    I have received the paperwork which I don!!!8217;t understand and I think the last time a payment was made to them was 4 July 2012 - how do I stand regarding can anyone advise me or point me in the right direction pleas
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    It means you're a couple of weeks away from it being statute barred, if that was the last acknowledgement of the loan..
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