If you have a (commercial) loan for something, with a company, can you ask for the debt to be written off, if the Lender has made no contact with you in over 6 years?What if the Lender then sells the loan to another company and they try to get it bck from you, does the six year concession rule still apply to the original loan?
2007-01-22 04:24:14 · 3 answers · asked by Darrol 1 in Business & Finance ➔ Personal Finance
If it is as described, then the Statute of Limitations will apply, assuming you haven't deliberately tried to hide from the lender.
If they've taken all reasonable steps to locate you because you've absconded, the debt may still be recoverable.
2007-01-22 10:26:20 · answer #1 · answered by Do not trust low score answerers 7 · 0⤊ 0⤋
ask Citizens Advice
2007-01-22 04:27:08 · answer #2 · answered by Scotty 7 · 0⤊ 0⤋
actually its six years and one day.
2007-01-22 04:33:35 · answer #3 · answered by grumpcookie 6 · 0⤊ 1⤋