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  • FIRST POST
    • magliondee
    • By magliondee 14th May 18, 6:58 PM
    • 6Posts
    • 1Thanks
    magliondee
    10 year old car finance
    • #1
    • 14th May 18, 6:58 PM
    10 year old car finance 14th May 18 at 6:58 PM
    hi i got car finance 10 years ago just before financial crisis hit , and i lost my job shortly after so i missed payments and car was reposessed ,the finance company sold car through auction and are still looking me to pay outstanding balance ,does this still apply after so long thanks dee
Page 1
    • worried jim
    • By worried jim 14th May 18, 7:05 PM
    • 9,649 Posts
    • 14,853 Thanks
    worried jim
    • #2
    • 14th May 18, 7:05 PM
    • #2
    • 14th May 18, 7:05 PM
    If you haven't acknowledged the debt or made a payment in the last six years they can't enforce it.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • magliondee
    • By magliondee 15th May 18, 9:39 AM
    • 6 Posts
    • 1 Thanks
    magliondee
    • #3
    • 15th May 18, 9:39 AM
    • #3
    • 15th May 18, 9:39 AM
    thanks i'd heard that somewhere before but wasn't sure
    • worried jim
    • By worried jim 16th May 18, 9:18 AM
    • 9,649 Posts
    • 14,853 Thanks
    worried jim
    • #4
    • 16th May 18, 9:18 AM
    • #4
    • 16th May 18, 9:18 AM
    thanks i'd heard that somewhere before but wasn't sure
    Originally posted by magliondee
    Too add- It's five years in Scotland.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • Dobbibill
    • By Dobbibill 16th May 18, 9:25 AM
    • 3,396 Posts
    • 4,372 Thanks
    Dobbibill
    • #5
    • 16th May 18, 9:25 AM
    • #5
    • 16th May 18, 9:25 AM
    How long ago did you make a payment towards the debt?
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
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    • jasonmood
    • By jasonmood 16th May 18, 12:23 PM
    • 2 Posts
    • 0 Thanks
    jasonmood
    • #6
    • 16th May 18, 12:23 PM
    • #6
    • 16th May 18, 12:23 PM
    They definitely cany can't enforce it. So no need to worry. Same happened to me a few years back.
    • Gaz83
    • By Gaz83 16th May 18, 12:54 PM
    • 3,565 Posts
    • 6,782 Thanks
    Gaz83
    • #7
    • 16th May 18, 12:54 PM
    • #7
    • 16th May 18, 12:54 PM
    They definitely cany can't enforce it. So no need to worry. Same happened to me a few years back.
    Originally posted by jasonmood
    There isn't enough info from the OP to assert that with certainty.

    If the OP has acknowledged the debt in writing, or made a payment to it, within the last six years, they can definitely enforce it.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
    • magliondee
    • By magliondee 16th May 18, 5:37 PM
    • 6 Posts
    • 1 Thanks
    magliondee
    • #8
    • 16th May 18, 5:37 PM
    • #8
    • 16th May 18, 5:37 PM
    no i havn't made a payment towards it since i handed them the keys 9 years ago ,thanks for replies its a weight off my mind
    • poppy10
    • By poppy10 16th May 18, 6:14 PM
    • 6,034 Posts
    • 7,297 Thanks
    poppy10
    • #9
    • 16th May 18, 6:14 PM
    • #9
    • 16th May 18, 6:14 PM
    Don't acknowledging the debt.

    Just send a statute barred template letter. Examples here:
    https://www.nationaldebtline.org/EW/sampleletters/Pages/Time-has-run-out-to-recover-the-debt-%28sole-name%29.aspx
    https://forums.moneysavingexpert.com/showpost.php?p=34906201&postcount=2
    • magliondee
    • By magliondee 21st May 18, 10:27 AM
    • 6 Posts
    • 1 Thanks
    magliondee
    thanks everyone for replies ,dee
    • sourcrates
    • By sourcrates 21st May 18, 12:28 PM
    • 15,701 Posts
    • 14,771 Thanks
    sourcrates
    thanks everyone for replies ,dee
    Originally posted by magliondee

    You are relying here on sec 5, Limitations act 1980.

    If you are contacted for payment, do not just ignore it thinking its statute barred, and it will be OK.

    The creditor can still take you to court and obtain judgement against you.


    You must write back and tell them it is statute barred, and that you will not be paying.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Clive Woody
    • By Clive Woody 21st May 18, 1:13 PM
    • 4,534 Posts
    • 5,118 Thanks
    Clive Woody
    There isn't enough info from the OP to assert that with certainty.

    If the OP has acknowledged the debt in writing, or made a payment to it, within the last six years, they can definitely enforce it.
    Originally posted by Gaz83
    Also assuming there wasn't a CCJ issued many years ago.
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