my wife just had a letter today asking for money owed off a lone made over ten yrs ago can i be made to pay?

Answer 1

The rules are, that if no contact has been made between the lender and the person with the debt for 6 years, then it becomes statute barred which means that the lender cannot claim back the money through the courts.

The debt still exists, and they can still try and make you pay, but they can't take court action, so if you refuse to pay there is effectively nothing the lender can do about it.

Its down to you how you proceed. Morally, you took out the loan so it should be paid back, but if you are in a situation where you can't pay, they cannot force you to.

Answer 2

The 1980 Limitation Act states how long a creditor can chase someone for an unpaid debt in England and Wales.

If the creditor does not contact the debtor for 6 years or more, the debtor may be able to claim that the outstanding debt is Statute Barred under the conditions of the Limitations Act. Statute Barred means the creditor cannot use the legal system to enforce payment.

Answer 3

As far as I know, if there is not a legal lien or judgement issued in your wife's name &/or social security number, then she should just ignore this letter. Do NOT respond by mail & NEVER EVER CALL an 800 number. because your number will then show up on their list of numbers received for that time & day. These are just plain old bill collectors attempting to get a commission & earn a living on the pain of others. Whoever the bill was from has long since used this debt as a tax write-off in the past 10 years. Someone found out that you married her & thinks they can now collect. This is why you should not EVER even enter your name or address over the internet & don't answer emails from strangers because then they can get your name off of your incoming email that you send! Added Later: DO NOT CONTACT ANYONE ON THIS SITE BECAUSE BILL COLLECTORS NOW WORK ON-LINE 24/7. It is also a violation of the Yahoo users guidelines to solicite this type of thing, so beware, because wolves are everywhere. I should know, because my own Mother was a skip tracer who took me with her when she went calling on debtors to collect her fees! There is no such thing as a "friend" or "helper" when it comes to collecting a debt. You are just a dollar sign to these people! ********Shread all ALL all of your mail!!!********

Answer 4

Ignore it. Never let a debt collector know you are there. Anything that old will be sent on spec. YOU are not responsible anyway It's an old myth that a man is responsible for his wife's debts!

As to the law on the subject, statute of limitations prevents action for recovery after 6 years (unless you are daft enough to pay up anyway!) other than when there is a CCJ against you. Then it's twelve years. Never admit a debt, as the 6 years starts again from that date.

Do nothing!!

Answer 5

A loan is a loan is a loan.... if you owed the money then and there is an agreement to pay, then you have to pay. They can get a court order and garnish her wages, so it is a good idea to set up some payment plan.

However, I would not pay one cent until they have sent you a copy of the original contract with her signature on the bottom... if they do not have one of those, then you may want to tell them just to take you to court. Do not send them anything till you have a written agreement on the terms, also tell them to take off all the late fee's which they normally will.

also do not allow them to take payments by check over the phone... You can send them a check. If you give them information on your checking account over the phone it gives them all kinds of permissions and they may drain your account.

Answer 6

What has happened is a debt collection company has purchased the old debt from the original lender.

Do not answer or acknowlege it in any way. If someone calls, hang up or tell them that the person doesnt live there.
If you verify it is an old debt, the collection agency can try to collect.
If you are trapped into talking to them, tell them to send you copies of all original documents, including the original agreement your wife signed. Most debt collection companys will not have those.

Answer 7

I wouldn't laugh too hard yet for to err is human, but I can not see why you should worry about it, I think it is their fault for letting it go that long, do check your state's statute of limitations but few places much can be done after 3-5 years.

Even as a business owner who has some folks who owe me money, I would think you can feel free to use this notice for anything you wish, to include things such as charcoal grille kindling or toilet paper and they can do nothing because it's too far gone and if they put it on your credit record then you can fight it and have it removed, but double check to make sure.

Answer 8

For peace of mind contact your local CAB, they will tell you straight away if you will or won't be.

There is a law where if there is not contact made then a debt is written off after 7 years (i think its 7) - but this can be quite difficult to prove either from the company or yourself i.e your word against theirs that letters were not recieved.

Hope this helps x

Answer 9

No, the rule is that if there has been no communication whatsoever between the Loan Company or any of their agents, and the Debtor, for over 7 years , and if there's no County Court Judgement attached to it, you cannot be forced to repay this loan.

Answer 10

If it's been through the courts then yes! (ie you have a ccj for it)
If there's no ccj attatched you can write back saying that it is harassment for chasing a debt so old and ask for it to be written off. Check out national Debtline (UK) for a pre written form to send.