2007-01-05 21:12:19 · 7 answers · asked by g8963red 1 in Politics & Government ➔ Law & Ethics
I can answer this because I know someone who had/has this problem. In Scotland. So I am talking about Scots Law here.
If the lender has failed to make contact with you in the last five years , the debt is time barred.
Normally what happens though is that the lender SELLS the debt.
So fior instance if you borrow money from a bank, but do not pay it back they will SELL the debt to a debt collection agency. If the debt is 2000 pounds they will sell it for maybe 500 because the agency know they have little chance of getting the money back.
So now the debt collection agency has the debt and they are ANIMALS. they will harrass you, try to get into your house, shout at you in the street and evean wait outside the buroo when you ar signing on. And to make matters worse they will add "interest" to the debt. They will say you now owe them 3400 pounds or something.
But if you can avoid them, go underground or disppear so that the debt collection agency have been unable to make contact with you, after 5 years the debt is time barred.
Of course if you ever try to borrow money in the UK ever again, you are fecked because you are on some data base.
Hope this helps yes I am talking about Scotland by the way. And something that happened recently to a relative.
2007-01-05 21:18:50 · answer #1 · answered by Not Ecky Boy 6 · 0⤊ 0⤋
Ah well you (or perhaps I should say "Ye"!) Canny Scots insist that Rabbie Burrrrns is the Bard, and is this question a roundabout way of saying that you've come up with an idea for a new "hit" sci-fi show? Rabbie Burns in a Tardis is The Time Bard? You know the sort of thing: would probably be on BBC3? Well, if so young man, write to
Russel "T" Davies
Dr Who studio
Wales
immediately!
2007-01-06 06:05:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I'm sure it's 6 yrs.
A great site to help you out & point you in the right direction is this
http://www.ukdebtadvisers.co.uk/debt-forum/
They can give you very good expert advice, along with pre printed official letters to download & print, which usually do the trick.
The reason I know is that we started getting letters from a company called MacKenzie Hall, who were demanding money for a debt we didn't have a clue about.
You must not admit to this debt as this then starts the whole process off again & you'll have to wait another 6 yrs.
Check out the site, you'll find answers you need to know.
2007-01-06 05:39:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
As far as I know, provided you have been requested to make payment (received a bill) then the monies can be claimed post 5 years. If you have never received a bill then after 5-6 years (not sure which) it can be claimed to have been time barred. I hope this of some help, I am not 100% certain of the above and would recommend you get professional advice
2007-01-06 05:19:26 · answer #4 · answered by BobC 4 · 0⤊ 0⤋
Thought Scottish education was superior to English? It was when I was there. Don't show us up by writng cr@p. And how the hell can an unreal person answer anyway? You been drinking too much Irn Bru?
2007-01-06 06:38:22 · answer #5 · answered by checkmate 6 · 0⤊ 0⤋
Sorry don't think that there is a 5yr time barr. Maybe double check with citizens Advice to be sure.
2007-01-06 05:18:01 · answer #6 · answered by louby lou 2 · 0⤊ 0⤋
Sorry don't understand the question.
2007-01-06 05:14:04 · answer #7 · answered by Kali 2 · 0⤊ 1⤋