I just received a letter from a collection agency asking for money I owed to Barclays Bank PLC over 6 years ago. Apparently opening a new account with Barclays recently must have been the cause of this collection agency being tipped off.
However, the money they are asking for is over 6 years old. Is it true that under UK law, they are not entitled to reclaim that money as the debt has expired?
2007-08-25 02:53:08 · 8 answers · asked by jasemuk 2 in Politics & Government ➔ Law & Ethics
Whatever you do, do not acknowledge the debt. Ignore it entirely, else you will start time running again, and they will be able to claim it.
Generally, personal debt becomes time barred after six years, however, you may have done something in the last six years to "acknowledge the debt" (e.g. made an offer of repayment or similar) in which case it won't be time barred. Also, if it related to a morgage shortfall then it won't be time barred. My advice is wait for them to sue you then see a solicitor. They probably won't bother, though.
2007-08-25 03:02:30 · answer #1 · answered by Rich n 2 · 0⤊ 0⤋
OK if it is 6 years since you last admitted responsibility to the debt it is time barred. There is nothing to stop them or their agents asking you to pay but it can not go through the Courts.
There is an act preventing the harassment of debtors and these people need to avoid stepping over the line. Court costs are expensive so CAB may be able to help or indeed trading standards. You do have a moral obligation to repay but the Statute of Limitations stops it being taken to Court.
2007-08-25 05:18:11 · answer #2 · answered by Scouse 7 · 0⤊ 0⤋
it used to be 12 years, but it changed to six, nearly ten years ago,
if they are trying to find you and cant within them 6 years, then the debt expires, they obviously know where you are ,not to sure on that,
if you open a new account i reckon they will take any money you put in to pay the debt, ring citizens advice
2007-08-25 03:05:52 · answer #3 · answered by wonderwall222 2 · 0⤊ 0⤋
If its debt with regards a contract .. the liability is limited where it cant be pursued against after 6 years.
2007-08-25 03:17:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Check the statute of limitation in your area for debt collection. And pretend you have no idea what they're talking about.
2007-08-25 02:58:07 · answer #5 · answered by ? 6 · 0⤊ 1⤋
if you are in the UK THE DEBT is no longer enforceable do not reply to the letter and forget it
2007-08-25 03:22:32 · answer #6 · answered by Anonymous · 1⤊ 0⤋
i believe its 7 years, and you just opened a can of worms for them , now you will have them on your back again
2007-08-25 03:03:37 · answer #7 · answered by bigdaddy9965 5 · 0⤊ 0⤋
Aren't you morally obligated to repay this debt?
You did borrow the sum. It appears you didn't repay. If they owed you wouldn't you want them to repay?
2007-08-25 02:58:27 · answer #8 · answered by Anthony M 6 · 0⤊ 3⤋