my wife has a old bank overdraft from over 7 years ago.
Not much £200. After all this time do the debt collector still have the right to collect this money, i was told if it is over 7 years it is squashed.
2007-09-29 03:10:05 · 4 answers · asked by paul 1 in Business & Finance ➔ Credit
the dept is no longer with the bank, and my wife has not got an account there any more, the dept has been passed on to a dept collecter, not sure when this was passed over, we moved house 7 years ago.
2007-09-29 03:19:35 · update #1
The Limitation Act of 1980 generally limits the collectability of debts to 6 years from the date of last contact or activity unless there is a CCJ. The rules are different for mortgage shortages, council tax or income taxes.
2007-09-29 03:37:35 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
7 years it's off your credit report. Most states are setup around 5 years so they can't take you to court anymore. But they have the right to try to collect forever but you don't have to pay and they cant' do anything about it. Just make sure they don't put it on your credit report.
2007-09-29 03:17:40 · answer #2 · answered by Yoho 6 · 0⤊ 0⤋
depending upon who told you taht you may want to call the bank and find out their rules on this
2007-09-29 03:13:35 · answer #3 · answered by arizonaprincess2 5 · 0⤊ 0⤋
6 years and debts are ripped off! they archive it
2007-10-01 10:44:02 · answer #4 · answered by littlemissgio 3 · 0⤊ 0⤋