Statute Barred

[Iloveathens]

Hi

Could someone please help me by explaining what Statute barred is and when it happens.

A few years ago I was told that so long a s acompany writes to you at least every 6 years then it would never be SB but on here people have said that so long as you do not pay or otherwise acknowledge the debt for 6 years then that is enough I am confused

[citizenB]

Hi

Could someone please help me by explaining what Statute barred is and when it happens.

A few years ago I was told that so long a s acompany writes to you at least every 6 years then it would never be SB but on here people have said that so long as you do not pay or otherwise acknowledge the debt for 6 years then that is enough I am confused

 

Statute barred is where a debt becomes no longer pursuable/collectible because of the limitation of 6 years.

 

You should not have made any payment or acknowledgment of liability for the debt for 6 years from the last payment made. (5 years in Scotland)

 

The creditor/DCA could write to you every day and it would still not make it unstatute barred

 

 

Many DCAs will argue that limitation accrues from the time when the "default notice" is issued. It does not.

 

Limitation clock starts ticking from when the payment is due and not paid not when they send a default notice.

 

We see often that CRA entries will date 5 or 6 months ahead of when the payment was missed.

 

People need to be sure that they aren’t being hoodwinked and that the DCA is extending limitation so they can sue when they are not allowed to.

section 5 of the Limitation Act 1980 applies

[Iloveathens]

Thanks that makes it clearer now

[citizenB]

[marissa adams]

Hi, I have not paid my debt from my student loan days for nearly 6 years (in it now with Link Financial who have been harrassing me) I have been in contact with them, but have made no payment. I gather this means it's NOT statue barred, even though I haven't made a payment in nearly 6 years, is that right? Also, I lost my job last year, and cannot afford them a repayment. I sent them the required papers as confirmation that I was signing on, but they are still hassling me daily for the debt of £2,200. I don't want to speak to them on the phone, as they are so horrible. What should I do next? Any advice greatly appreciated.