debts

[jay1977jay]

i have a number of old debts , these debts are coming up to being 6 years old , last one in december , can someone tell me if these debts will not only fall of my financial record but the companies i owe the money to will no longer be able to chase me ? thank you

[dzug]

They can chase you as long as they think it worth while - just not through the courts.

And the 6 years is from when they last contacted you (not the date of the debt) and doesn't apply if you've moved without telling them.

[Ethel]

The Statutory Limitation is 6 years from the last time you had contact with them, not the age of the debt.

After 6 years of no contact from you, it can no longer be pursued in court. They can still ask you for the money, you still owe the money and the debt will still affect your credit record.

If you have moved house in that 6 year period and failed to notify your creditors of the new address, the Statute of Limitation Act does not apply and you can be taken to court at any time.

So you are wrong on both counts

[madmaggot]

Why don't you settle the debts? Presumably you enjoyed the goods so why try to get out of paying for them? The current financial crisis is due to people who expect others to bear the cost of their liabilities!

[bednobs]

debts never "fall off" finanial records. Unless they are paid, they will still always be there and always be owed, and as previous people have rightly said, they can chase and chase you as much as they like and generally make your life miserable. They just wont be able to chase you through the courts after they become statute barred. i think mortgage debts cant become statute barred until 12 years

[Barquentine]

If the companies have pursued you already through the courts you may have County Court judgments against you which you don't know about (if you've moved on without a forwarding address). Even if those CCJs have not been enforced (because they cannot locate you) they will show up on your credit record for 6 years from the date of the court order (I think). And even if they didn't get a CCJ - some debts can be recorded as 'defaults' on the credit record. You can see what's on your record by ordering a report from Experian or Equifax (only costs �2 I think).