Tyanna-Daisy
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It's something like 3-4 years I think. |
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Jason O
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A debt is considered Statute Barred if a creditor has not contacted a debtor for a period of 6 years and no action has been taken on the account.
Although the debt is still legally acknowledged as being owed, the creditor is not able to take any legal action against the debtor in order to recover the debt. It is considered unfair if a creditor or debt collector misleads the debtor into believing the debt is still legally recoverable. It is also considered an unfair practice if the creditor or debt collector press for payment after the debtor has stated they will not be paying the money owed. This could amount to harassment contrary to Section 40(1) of the Administration of Justice Act 1970. |
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Modern Major General
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Six years; statute of limitations.
(for information, I am British) |
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Sam S
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I live in a Commonwealth country not in North America, so this may help: the "prescription period" is 3 years, at least here. So all civil actions are extinguished after this time, granted you haven't made any payments in the meantime - otherwise, the clock starts running again from that time you paid in.
Not paying is bad for your credit history though. |
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CeeVee
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See the site below for the true explanation of the law in the UK.
Take particular note of the 'no response' part of the legisation |
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dragondave187
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I cannot answer for your area in particular, but here in Canada (and from personal experience) it is 7 years after the debt has gone to a collection agency that they can no longer try to collect for the debt. That being said, even after 7 years, if a collection agency finds you somehow (through a different collection or whatever) they will still try to collect on the "now long overdue" account that they had/have on file someplace. I have had it happen on a debt over 10 years old, and discovered that after 7 they cannot collect or file any legal action against me for that debt. I just laughed at them and asked how desperate were they for trying to collect!! :) |
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♥Whisper Wind♥
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7 YEARS, NORMALLY, BUT IT CAN BE BOUGHT BY ANOTHER AGENCY, OVER AND OVER AGAIN. I HAVE ONE DEBT THAT THAT SHOULD HAVE BEEN CLOSED BUT HAS CHANGED HANDS. |
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michele_cat_cyprus
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In the UK most debts are written off after six years by many large firms (this is the length of time that the Inland Revenue etc. expect Companies to keep accounts).
Any County Court Judgments against a person because of non-payment of a debt also remain on your credit history for six years. CCJ's will appear on your credit file once the creditor has taken the case to court, which may not happen till sometime after the debt was passed to the collection agency. Bear in mind that if you owed money six years ago, that the CCJ might only be five years old.
To be on the safe side, it would be wisest to check your own credit history just to make sure that there aren't any CCJ's still on file. You can do this on line with Companies such as Experian and ICC. (Not too sure how much it costs currently but I would say it's around £25).
Hope this helps. |
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pete m
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Actually 6 years is all that a credit check agency holds and as such after 6 years its is void. Debt collectors are tenacious though so expect a very hard life if you just want to avoid paying and by the way they can and will find you, they will hassle not only you but your familly housemembers etc. Think very carefully before chosing this option. |
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k is for killer
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Depends on the agency, if the agency 'bought' the debt (usually done by the rougher agancies) then you now owe them and you'll owe them till you've paid and they are unlikely to stop at 50%. (Most agencies are happy to get 50% of a debt). |
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willie 57
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It's only six years if there is no contact between you and the bank for that period. If, like you say, it's in the hands of a debt collector then you're better off getting it paid asap otherwise the bill will just get bigger and bigger. If you offer what you can they are obliged to accept a reasonable offer. |
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tattie_herbert
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Trust a Yank to answer a UK law question!
UNTIL IT IS PAID, OR DEATH! |
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