Debts

[spainlads]

How long does a debt stay on your file, or does it get cancelled off after a length of time?

[Oneeyedvic]

The simple quick answer is 6 years - there are exceptions, but I think that that is the answer you are looking for

[cat woman]

Oneeyedvic is correct, my huband had a car repair business from 1987 to 1990 which he worked hard to make it successful, but it was like flogging a dead horse with the economic state of the country at that time and had no option to declare him self bancrupt. It took us 6 years to be allowed have a bank account and be clear of the stigma.

[what..the?]

I am afraid that they are both only half right.
By Law:

A debt which is not chased for 6 years is statute barred. And so the creditor can not pursue you after the 6 years.

A debt which in chased is active as long as the creditor wants it to be.

Of course in the case of statute barred the case my go to court if the creditor claims he/or she has chased and the debtor claims not to have received any chasing letters. I understand the court would however favour the creditor in this situation.