debt with car finance company

[cupcake04]

how long it a debt alive 4? could'nt keep up car payments so car was taken in nov 2004 the finance company sold the car + wanted me to pay the diff which i failed to do. Still i have debt company nearly 7yrs on ringing + sending me letters for how much longer!!!!

[China Doll]

A debt is a debt. You would probably be better off arranging sme sort of repayment with them even it is only for a small amount monthly. I think a debt is only written off after seven years with no contact and even then I'm not sure. Just arrange a small repayment plan each month, it is better than having them constantly call you/write to you, and you will feel better for having taken some action.

[Buenchico]

A debt lasts until it's settled.

If a period of 6 years passes without any demand for payment (or such payment or other acknowledgement of the debt) then the creditor can no longer pursue the matter through the courts, but the money is still owed (and could thus, for example, continue to affect the debtor's credit rating).

Since it's clear from your post that there has not been a six year period without contact between the creditor and yourself, the finance company can still take you to court to obtain a CCJ. If you fail to comply with the CCJ they can then apply to the court for enforcement action (such as having the money deducted directly from your pay or having bailiffs seize your goods to be sold at auction).

Chris

[ummmm]

I don't think it's ever written off as such. If the company you owe money hasn't chased you in 6 years then they can no longer take you to court for the debt. That doesn't include them trying to chase you, and you moving house and not giving a forwarding address.

This company is chasing you cupcake....they want their money back.

[cathfromsaron]

no, if you heard nothing for 6 years legally they can't keep on about it.
providoing you don't say 'yes i owe it ...' in which case the 6 years starts again! but if they have tried many times in those 7 years, you should come to some agreement!

[ummmm]

They can keep on about it. They just can't take you to court.

[ladybirder]

Are you sure ummmm, Chris's post says they can take you to court, although why they haven't in all those years I can't imagine. Unless of course they can't.

[hc4361]

They can still take you to court, cupcake, as they have been in touch with you recently.

[buildersmate]

Thus summarising:
1) how long is a debt alive 4? - forever
2) sending me letters for how much longer? - forever

Hence the need to come to a payment arrangement.

[hc4361]

And why shouldn't you pay, anyway?

Debt avoidance is no better than theft.