how long does it take to get debt to be written off?

Question

5 years ago my ex partner ran my bank account £6000 over my limit and the bank closed my account and asked me to pay it back at that time i was unable to so move away and have never paid and i still dont hold a bank account now i am starting a family and now need a bank account so will they find me and ask for the momey back or will they have written it off

Answer 1

Legally, 7 years is the legal time to write off a bad debt. However, given that the amount owed is not small, its unlikely that the bank would write it off without filing a report on you. Chances of you being traced should you open an account is great. I suggest you proceed with the opening of the account and wait for the bank to connect with you. Discuss with them to allow you installment repayment. I don't believe you can escape from it all together even if you can proof that the amount was owed by your ex-partner.

Answer 2

Most financial institutions have limits on debt under such and such amounts being held, so it is a good possibility that it has been written off.

The best thing to do, I would think, is to try to open an account and see what happens. Financial history can be a tough thing to clean up, especially given the about of time that has passed... but if there is a problem, usually you have some options available to you so long as you can prove that the debt is not yours. With copies of the checks written, or by filing affidavits stating that you never wrote them, you can get yourself out of trouble.

Good luck!

Answer 3

They may have written it off for the purpose of their yearly accounts but as far as they're concerned you still owe them £6000 - plus 5 years interest. The only way to get a debt officially written off is through bankruptcy or an insolvency voluntary agreement (IVA). Doing either of these things will servely affect your credit rating and may prevent you getting a new bank account.

The lesson is: never just ignore a debt, do something about it. It doesn't go away on its own

Answer 4

For those of you who say that student loans in no way get written off are sooo incorrect!! student loan regulation's replaced in 2006 and if the loan has no longer been paid off in 25 years or in the past the guy is 50 the student loan employer has to write down it off. I certainly have dealt with an lawyer with this comparable difficulty and that i do have confidence a authorized lawyer be attentive to's the regulation's extra effective than all of you. in case you do the appropriate seek you will see that i'm spectacular. And in case you have been kicked out of a school and that they took your constructive stability on your individual loan and gave it to somebody else so as that they might attend the college yet nonetheless charged you for that quantity they are in deep complication like the college i attended. they had 27 lawsuits against them for that very element and all the student's gained their circumstances. you ought to take a glance at college's useful in the past attending. some will inform you that credit are transferable whilst they actually are not.

Answer 5

if you moved away and staying in the uk im surprised they didnt find you. it 7yrs before they write it off completely. why not ask your partner to open an account and use that to do your banking from until you're in the clear. no one wants £6000 debt falling on them when they're about to start a family. that's a lot of money. play it safe or it could land back on your doorstep

Answer 6

7 yrs