Guarantor loan from over 20yrs ago

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  • Carrot007
    Carrot007 Posts: 4,534 Forumite
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    _shel wrote: »
    But if it's statute barred none of that matters.


    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
    sourcrates Posts: 28,888 Ambassador
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    edited 29 November 2019 at 5:06PM
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    Spaniel1978 wrote: »
    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.
    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.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • BobQ
    BobQ Posts: 11,181 Forumite
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    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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