From The Debt , I Still recive letters from differnet debt collectors acting on behalf of natwest they obtained my new address via the land regiesty , as i have never replyed to any letters from them would that now mean they can'nt use the legal system to recover the money ?
2007-02-11 13:48:52 · 9 answers · asked by mrkthomasson 1 in Business & Finance ➔ Credit
What The Statue Of Limations Act Now Apply Whic h means by law the collection company can no longer recover the debt usin legal methods .?
2007-02-11 14:20:20 · update #1
I'm not sure you can ever escape the debt fully, best thing is just to get in touch with them to arraneg payment if u can! Debts are easy to escape, CCJ's are not.
2007-02-11 14:02:48 · answer #1 · answered by clarky303 4 · 0⤊ 0⤋
The Limitation Act 1980
The Limitations Act 1980 outlines the time limit within which a creditor can chase a debtor for outstanding debts. The Limitations Act 1980 only applies when no contact has been made between the creditor and debtor within the given time limit and only applies to residents of England and Wales.
Creditors are given a fixed period of time to chase their debtors, which is outlined in the Limitations Act 1980. The time scale mainly depends on the type of debt and can be extended at the courts discretion. The time limit begins when you last admitted owing the money or made a payment.
Should the creditor fail to maintain contact with the debtor, for a period of 6 years or more, it is possible to claim that the outstanding debt is "Statute Barred" under the conditions of the Limitations Act 1980.
The Limitations Act 1980 also has additional effects, depending on the type of debt in question:
Unsecured debt
You may have assumed that your creditor has "written-off" a debt if you have not heard from them for a long period. In many cases, it could be down to your failure to inform them of a change of address, but the debt will still exist and creditors are entitled to chase the debt indefinitely (even after the debt has become Statute Barred), however they can only use the legal system to recover the monies for up to 6 years after the last payment was made to the account.
Remember, creditors are still able to pursue an unsecured debt if:
They have previously obtained a judgement against you (a CCJ);
You have made a payment to the account within the last 6 years (this includes anyone else named on the credit agreement)
You have established any contact with the creditor (this can be a phone call or letter to request a balance or change your details), except to deny that the debt exists.
If a creditor continues to contact you after accepting that a debt is Statute Barred and you have stated that you no longer intend to pay the debt, you may be able to claim harassment contrary to section 40 (1) of the Administration of Justice Act 1970.
County Court Judgement
If the creditor has previously taken you to court and you have received a County Court Judgement, you will be unable to use the Limitations Act 1980 to dispute the debt. If the judgement is over 6 years old the creditor may need the permission of the Court to enforce the debt.
Council Tax
If the Council tax was due more than 6 years ago the council can go to Court and ask for a Liability Order. The liability order allows the council to deduct the council tax debt from your wages or benefits. The council will be granted the liability order unless you defend the debt.
Mortgage shortfalls
Your mortgage lender may begin chasing you for a mortgage shortfall, which was the result of repossession. The time limit is slightly different for the mortgage lenders as they have 12 years before the debt becomes Statue Barred.
Income Tax and VAT
There is no time limit for these debts to be chased. You can always be pursued for debts owing to HM Revenue and Customs.
Benefit Overpayments
The Department of Work & Pensions (DWP) can chase debts after 6 years without going to court. They reclaim the overpayments by deducting them from current benefits.
What to do if a creditor contacts you after six years
Don't admit to owing the money
Once you agree to owing the outstanding amount then you are required to pay the debt back. If a payment is made, even after a 6-year gap, the Limitations Act 1980 won't be enforceable and the debt will have to be paid back.
If a creditor, who you haven't had any communication with for 6 years contacts you about the debt you should write to them quoting the Limitations Act 1980
2007-02-13 11:18:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Natwest Debt Recovery
2016-12-29 21:05:16 · answer #3 · answered by carpente 4 · 0⤊ 0⤋
This is clearly still a live debt and you are not free of it.
Your failure to respond to the letters is totally irrelevant, though it might make it tougher to prove in court that you have received the demands from the debt collectors (it would not be much of an obstacle for them to prove delivery anyway). Banks typically hand over debt enforcement to such companies rather than do it themselves, so they are obviously still after you for settlement. The fact that they have not gone to court after 7 years suggests that this debt is pretty small.
The thing you need to be careful of is that this debt has, after such a long time, been notified to other lenders - there is an industry system for doing this. So, you will probably have problems getting credit in future or at least pay a higher interest rate, as you will be identified as a poor credit risk.
You do not suggest anywhere that you cannot afford to pay off this debt and there is no indication that the debt is in any way outside what you agreed with the bank in the first place. So why are you not just settling this debt?
People who do not pay their debts for no obvious reason raise the cost of banking and borrowing for all of us, so do the right thing and pay off this debt rather than look for slippery ways out of your obligations.
2007-02-11 14:12:49 · answer #4 · answered by Chris W 4 · 2⤊ 0⤋
They will be able to chase you for the money. You should make them an offer of an amount you can afford to repay every month. Running away from your debt may seem like a good idea, but it's not.
2007-02-11 13:58:13 · answer #5 · answered by 👑 Hypocrite 7 · 0⤊ 0⤋
Pay it up, or settle some fee words with the creditor. mutually as there is a few risk-free practices against long charges, lenders will make each and every attempt to crash your credit once you're a bad debtor.
2016-11-03 05:02:44 · answer #6 · answered by dembinski 4 · 0⤊ 0⤋
Hello, first of all i have to say, you my man , are a genius! i shoudl try the same thing. Lol, but it depends how much money you owe them, they will try the hardest to get it back, but as it has been 7years, you may aswell keep on not paying it (if u are not able to)... but if u r able 2 pay it fairly easily i would
2007-02-11 13:56:36 · answer #7 · answered by Olly S 2 · 0⤊ 0⤋
go to citizens advice they will tell you if you have to pay this debt. and sort out a managale repayment plan if you have to.
2007-02-13 22:47:53 · answer #8 · answered by Anonymous · 0⤊ 0⤋
NATWEST ARE A BUNCH OF FOOLS
2007-02-11 22:23:02 · answer #9 · answered by deb_star_82 3 · 2⤊ 0⤋