2006-12-16 03:37:30 · 11 answers · asked by sheila c 2 in Business & Finance ➔ Other - Business & Finance
Only if the company that is owed the debt does absolutely nothing in those six years to find the debtor or recover the debt. In other words, if they check the electoral register once in those six years, the six years starts over.
2006-12-16 03:41:28 · answer #1 · answered by scatz 3 · 1⤊ 0⤋
A creditor has a period of 6 years from the last time a person acknowledged a debt to use the legal system to recover monies. However, if a creditor has taken legal action on an account, the debt can be legally recoverable indefinitely.
2006-12-16 11:51:11 · answer #2 · answered by moijesuisunepommedeterre 2 · 1⤊ 0⤋
any debts that are on your credit record(which you can get from experian) are only legally allowed to stay on your record for 6 years. not sure wether you can be chased after that but they wont show. most companies wont chase you for a debt foe less than 50pound as it would cost them to much in courtcosts. Oh and the council have their own rules and will chase you for any debts owed to them for however long it takes as my sister found out 7 years after being made bankrupt.
2006-12-16 12:05:24 · answer #3 · answered by funny_smartlovely 3 · 0⤊ 0⤋
I think you are getting confused with not receiving a bill within six years of goods being received, I think that then there is some legal way of refusal to pay due to the delay in vendor requesting the payment.
2006-12-16 11:55:52 · answer #4 · answered by BobC 4 · 0⤊ 0⤋
not even close, court orders (judgements) can last up to 20 years
One day you'll get paid at work, and get popped for a debt you owed 15 years ago
resolve it now, or look over your shoulder for the next several years
2006-12-16 11:46:45 · answer #5 · answered by DixieNormus 4 · 0⤊ 0⤋
You are very wrong, a debt lives long after 6 years, infact long after you are dead. Most small lenders and utilities wouldn't chase you for it but it still exists.
2006-12-16 11:42:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
if it is through the court then 5yrs after paying it off or goverment there is no time limit if it through financial lending if nothin is done to recover the debt then 6yrs or you could just move to spain. pick you up at malaga airport
2006-12-16 11:54:57 · answer #7 · answered by Snot Me 6 · 0⤊ 0⤋
Yeah, I think it is written off.
I don't know this for certain, but I do have a friend who went in to hiding for 6 years - and now he has resurfaced no one has attempted to recover the debt.
2006-12-16 11:39:23 · answer #8 · answered by Natyla 3 · 0⤊ 2⤋
sometimes a debt is sold to debt collectors and they can recover it anytime in the future!
2006-12-16 11:41:05 · answer #9 · answered by Welshchick 7 · 0⤊ 0⤋
The six year period relates to the length of time the UK tax inspectors can investigate your financial affairs if they decide to assess you for tax evasion.
2006-12-16 11:53:31 · answer #10 · answered by Anonymous · 0⤊ 0⤋