Crosswords0 min ago
Statute Barred
IHTM28384 - Law relating to debts: statute-barred debts
"If a lender allows time to pass without receiving any payment an action for recovery may become barred."
Under the Limitations Act 1980 the time limits are
in simple contracts, 6 years
in contracts under seal, 12 years.
If the debtor acknowledges the debt in writing or makes a part payment within the original limitation period, then the time limits start to run again from the date of acknowledgement or the date of payment.
Oh dear oh dear oh dear looks like I was right.
Thank god for British Law.
Rule Britannia!!!!
"If a lender allows time to pass without receiving any payment an action for recovery may become barred."
Under the Limitations Act 1980 the time limits are
in simple contracts, 6 years
in contracts under seal, 12 years.
If the debtor acknowledges the debt in writing or makes a part payment within the original limitation period, then the time limits start to run again from the date of acknowledgement or the date of payment.
Oh dear oh dear oh dear looks like I was right.
Thank god for British Law.
Rule Britannia!!!!
Answers
Best Answer
No best answer has yet been selected by RevFunk. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
Ok - Rev - you stated in a previous thread that when your folks die, you will inherit their house....as soon as that happens, you will be on various lists with various people.
Flags will be raised and debt collectors will come knocking.
As others have said, just because you havent answered any mail from the collectors doesnt mean they have forgotten about it.
Im very sure that as soon as your name comes up, they will be round to ask questions.
Flags will be raised and debt collectors will come knocking.
As others have said, just because you havent answered any mail from the collectors doesnt mean they have forgotten about it.
Im very sure that as soon as your name comes up, they will be round to ask questions.
Since this is a forum and i dont know you personally, i do not know for sure that your debt is genuine and i'll never know if (when) the collectors will catch up with you.
If the debt is genuine, then i know you will be found out at some point.
Debts like this dont just go away because you want them to.
Im actually starting to feel a bit sorry for you, to be honest.
You keep going on about this 6 year thing, but you dont know enough about law to know all the ins and outs about debts......so you are going to spend the rest of your life with this whole scenario in the back of your mind and it will play on you every time you want to purchase something.
You will always have to pay by cash, always have to "hide", just in case it does come back to you.
Im positive you will absolutely deny any "hiding" or insist that you dont go out of your way so you wont be caught, but if you really do owe �40K, then that is exactly what you do and will continue to do for a long, long time.
If the debt is genuine, then i know you will be found out at some point.
Debts like this dont just go away because you want them to.
Im actually starting to feel a bit sorry for you, to be honest.
You keep going on about this 6 year thing, but you dont know enough about law to know all the ins and outs about debts......so you are going to spend the rest of your life with this whole scenario in the back of your mind and it will play on you every time you want to purchase something.
You will always have to pay by cash, always have to "hide", just in case it does come back to you.
Im positive you will absolutely deny any "hiding" or insist that you dont go out of your way so you wont be caught, but if you really do owe �40K, then that is exactly what you do and will continue to do for a long, long time.
FFS how thick are you?
http://www.hmrc.gov.uk/manuals/IHTmanual/IHTM2 8384.htm
Read it careful. 6 Years unrecoverable.
What don't you understand!!!!!!!!!
http://www.hmrc.gov.uk/manuals/IHTmanual/IHTM2 8384.htm
Read it careful. 6 Years unrecoverable.
What don't you understand!!!!!!!!!
Rev - as others have told you, plenty of times, just because they send out letters to you and you dont read them doesnt mean they are going to forget about it.
Six years, twelve years, however long it may be.
It will ALWAYS be in their database that you owe an extortionate amount of money and as soon as your name appears, where they might have contact, they will come after you.
As i said, i highly doubt you know enough about law to know absolutely that they will forget about you after six years.
Information you have quickly brough up from a website does not cover the entire legal system, sir.
Six years, twelve years, however long it may be.
It will ALWAYS be in their database that you owe an extortionate amount of money and as soon as your name appears, where they might have contact, they will come after you.
As i said, i highly doubt you know enough about law to know absolutely that they will forget about you after six years.
Information you have quickly brough up from a website does not cover the entire legal system, sir.
No need for name calling, Rev.
I read the link - the important word you are missing is "may"
If a lender allows time to pass without receiving any payment an action for recovery may become barred
If you are actively evading their advances, with help from your mother, then that will render the law you mention void.
There are ALWAYS ways and means around fraud, as you will find out.
You are just embarrassing yourself now.....
I read the link - the important word you are missing is "may"
If a lender allows time to pass without receiving any payment an action for recovery may become barred
If you are actively evading their advances, with help from your mother, then that will render the law you mention void.
There are ALWAYS ways and means around fraud, as you will find out.
You are just embarrassing yourself now.....
