This is relevant to law in England & Wales - I have heard that after 6 years, the debt is 'statute barred' ie expired, and although this debt agency has threatend me with court, would they be able to if the debt deadline has expired?
2006-07-20 00:41:29 · 15 answers · asked by jack 5 in Business & Finance ➔ Credit
6 years is correct
the h*ll with morality
If they wanted their money bad enough they would of tried to get it before this.
They have written this off on their taxes and now they are trying to rip YOU off..!
AND another thing never admit to a Bill this old,it will only update the bill and statue of limitations will start over.
2006-07-20 00:46:58 · answer #1 · answered by Vulcan 1 5 · 2⤊ 0⤋
Consult some free legal advice, they should be able to help you. I understood as well that there is a statute of limitations on the collection of debt, in which case they would NOT be able to collect. If it turns out that you are legally obligated to pay this debt, and you cant afford the amount, pay them what you can afford, when you can afford it (this shows good intent). Collection agencies threaten to take you to court, having the police show up etc., but there is really not much they can do. Don't let them tell you you have to pay the full amount right now (you don't). If they don't accept partial payments, save your cheques, moeny orders, etc and if they do take you to court you can show the judge you have good intent to pay.
Call the collection agency and schedule a repayment plan. Don't let them bully you. Tell them this is what you are going to pay and that is that. You shouldn't have any legal problems.
2006-07-20 00:51:29 · answer #2 · answered by porterismmovement 2 · 0⤊ 0⤋
If they have contacted you in the time between the debt arising and the collection agency writing to you then your liable. i.e there must be a six year gap between the last reminder/demand for payment before the debt is statute barred.
Check your house contents insurance as it usually has free legal advice included and give them a call, you'll probably only end up speaking to me!
2006-07-20 03:59:24 · answer #3 · answered by Nick B 3 · 0⤊ 0⤋
If you start to pay on it you will be obligated to pay on it as if it was a new line of credit or debt. If this a credit card or any other kind of debt that can ruin your credit by late payments. Then the odds are the services that you are inb debt with has charged it off. The debt agency has the account to try to collect to make they honest living. That's why the have that job to try to collect on outstanding past due accounts. If you pay it a plus for them. If not, no harm no foul.
2006-07-20 01:58:21 · answer #4 · answered by JOE S 1 · 0⤊ 0⤋
i'm no longer likely to handle the morality of pay debts that you owe. you comprehend that. The collectioin corporation won't be able to legally use the court docket device to get a judgment to carry jointly on the debt. besides the undeniable fact that, and it is a huge besides the undeniable fact that: a million. they can nevertheless attempt to carry jointly on the debt perpetually outside of the court docket device. it isn't harassment. 2. they're making a wager you do not comprehend the rules and the rules governing your debt. 3. if you're making an grant to pay the debt, the statute of obstacles is reset to 0. Then they bypass to court docket and get a judgment hostile to you which of them can outcome in garnishing your wages. 4. in spite of if the SOL has timed out, the can nevertheless document court docket papers. in case you fail to look to mission the debt as time barred from amassing because of the SOL, they win by default in spite of the SOL. So, the SOL and the court docket device does no longer protect you 100%.
2016-11-06 21:09:31 · answer #5 · answered by ? 4 · 0⤊ 0⤋
You do not have to pay it unless they had asked for it in the last 6 years. But better go to Citizens Advice with the contact, in case there is any special clause in it.
If they confirm you are no longer liable, and the loan is from a financial company, you do not have the slightest obligation, moral or other wise, to pay them. The law is there for a purpose and they know it backwards. They would take your last penny and let you starve if they could.
2006-07-20 06:59:01 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Look mate, you have to pay it one day or another. Just pay it off as little as possible. It will start to affect you in some way another, for example if you trying to get something , eg. a car/house/start a new business, this debt will crop up.
2006-07-20 00:47:33 · answer #7 · answered by Zee99 3 · 0⤊ 0⤋
well, here in the states, a bill is a bill is a bill. no matter what it is no matter how old it is. heck, ive seen the gov go after relatives of a several generations old debt from a long ago family member.
but for you they are just trying to scare you. call them and inform them that you know the law and they need to leave you alone.
2006-07-20 00:46:19 · answer #8 · answered by Anonymous · 0⤊ 0⤋
In the US this would have expired by now. Also in the US, if you, out of the goodness of your heart, pay even a little of the bill, the clock starts again.
2006-07-20 01:16:58 · answer #9 · answered by indiana_crank 3 · 0⤊ 0⤋
Some dept coll agencies buy imformation and have a go, treat it as spam and if they bother you tell them the person they are looking for moved to france.
2006-07-20 00:47:02 · answer #10 · answered by Anonymous · 0⤊ 0⤋