How long can a bank chase me for a debt?

[bruiserp210]

I have recently recieved a final demand letter from a credit agency asking me to pay a debt. I contacted the agency and enquired as to the nature of the debt,to my knowledge I had no debt for the amount stated in the letter.They told me it was taken over from Barcleys bank and the debt was outstanding from 1998,and it was for an un-autherized overdraft.My reply was that i had paid that debt 8 years ago,they asked for proof.Who keeps records of that nature for that long.After 8 years can they do this? If I cannot find proof will I have to pay?

[Loosehead]

There is no time limit although they have to restate their intent to collect every 6 years.

[trulli]

They can demand pymt with no time limit however if the debt is over 6 years old and you have made no contact or payment in that time then it becomes 'statute barred' and they cannot really do anything about (they can't take u to court) just demand payment. If that is of any help.

[Polotoo]

Hi Bruiserp210

We had a very similar problem ourselves recently (and funnily enough thats how we discovered AnswerBank!)

On advice of others, we contacted the national debt line - and have to say they were really good. We believed the debt to have been paid off and as it was over 6 years we also believed it was Statute Barred. There is loads of info on their website http://www.nationaldebtline.co.uk/ or you can call them on 0808 808 4000 between 09:00-21:00 Monday - Friday or 09:30-13:00 on Saturday. There was a long wait on the phone but the advice given was very helpful.

Above all it was don't acknowledge the debt in writing, as by doing so could be considered an admission of guilt and in which case the 6 year rule starts again.

They have sample letters on their website for statute barred, but if you want to give them a call they can go through your specific situation.

Hope this helps, its a horrid situation to be in, as its your word against them.