Speaking to a mate last night and conversation got onto debt. His wife is being hounded by a debt collector from a loan she apparently knows nothing about. He has been married to her for over 5 years and this so called loan is in her maiden name so he is guesiing that if she does owe this money it is from at least 5 1/2 years ago and maybe over 6. So far his wife has not answered any of the letters and as yet has had no phone contact. My belief is that if the debt is over 6 years old then it is now not collectable, is this right? Secondly he wants his wife to get a copy of her credit file to see if there is anything showing on there, and if there is then when did she default on this loan (hoping that if she does owe the money the default was over 6 years ago). If she does a credit search will this alert the debt collectors of her whereabouts. If she does do a search and the debt defaulted over 6 years ago is she within her right to refuse to now pay and if she does is there any comeback.
There is a Statute of Limitations of 6 years on unsecured debt which means that if there has been no contact within that period, then the loan gets written off. However, in this case, there is contact (via a debt collector) so the Statute of Limitations would not apply.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
It would be a difficult one to prove. I would suggest requesting a copy of the original credit agreement in order to ascertain the validity of the debt.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
6 years on?
Posted - 19 November 2008 : 15:24:06
