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Six Years

PostPosted: Mon Oct 12, 2009 7:45 am
by Ivy
Does anyone know if there is such a thing as a "rule" relating to bank debt where the bank has not contacted the creditee for six years or longer? Any inout would be appreciated.

Ivy

Re: Six Years

PostPosted: Mon Oct 12, 2009 8:09 am
by MikeThomas
You need to check out the Consumer Credit Act. If memory serves me right, if the claiment has not approached you in six years then the debt is written off providing you do not admit the debt. So, if they suddenly call you or write to you say "What debt?"

Please bear in mind that the six year period is for un-secured loans (credit cards, personnel loans etc) but for secured loans (mortgages etc) the limitation period is twelve years.

Re: Six Years

PostPosted: Mon Oct 12, 2009 7:54 pm
by Ivy
Many thanks.....