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Statute Barred

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RevFunk | 14:44 Fri 13th Jun 2008 | Law
52 Answers
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!!!!

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rev if i do pay or acknoledge them after 6 years will my credit rating go back to scratch???
***dont pay
Question Author
Dont know about the credit ratings but to be honest if I can do 6 years without the need for credit Im sure I can continue.
i've only got to wait another 1 1/2years then yerrrrrrrrrrrrr
Just dont say you weren't warned WHEN this comes back to bite you on the @ss.

No company will write off �40K just because you dont want to pay it.

And im pretty sure that, even with what you have looked up there, it wont apply seeing as you have actively evaded them (with help from your own mother).
You have purposely went out of your way to stay "under cover", so that you wont be found and, hopefully, wont have to pay back the money.
As soon as you are found out, they WILL want the money back.
Either that, or you'll go to jail for fraud
Are they still giving you sh1t, Rev? you ARE kinda winding them up loveface ;o)
i havn't paid babck 26grand of debt and have lived in the same address for 5 years can't be hard to track me down havn't had a letter for 2 yrs now think they have given up
Question Author
Bounty:

In 18 months 6 years will be up.

How exactly am I going to get caught? Then the law is on my side.

Jail?

Have a look out of your window.

Can you see a lot of dust? Are there craters? Is there no gravity?

You live on the moon.

Prisons are releasing violent criminals early plus I'm sure no-one can tell me what I would be charged with.


Get over the fact that not a penny will be paid paid then go and have a lie down
Question Author
CB

mail me ;-)
Let them knock - paint lasts longer than skin - keep on running rev
Question Author
Long time no speak Paulo

is it still grim up north?? lol
btw I was captured just a couple of months short of the six years - they probablt try harder the closer it gets
As Lakitu said in the other thread, it's getting to the point where it seems like you are taking the p*ss.

Surely no one is as stupid as you are making out to be??

If you are being genuine about your debt, then no matter what you say or what you think, this will catch up with you.

Simple as that. : )
what will they do if you get caught

paulo what did they do to you???
If it were up to Bounty it'd be a public flogging lol
Question Author
MrBounty

I ask for the hundredth time.

HOW AM I GOING TO GET CAUGHT????????

Question Author
Please dont start talking about flogging...
Mine was just an old student debt that I thought I'd got away with after several address moves, I had to pay as the amount wasn't worth trying to get away with - my point was more bout people stepping up their effort as you near the 6 years
Cheries - obviously Rev is a friend of yours and i understand you sticking up for him, but i wouldnt request a flogging at all - what i would request is the repayment of the debts he is evading. : )
if they are gonna flogg ya ave a word with with doc filth he knows miss whiplash

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