Timed out agreements

[frisp]

Can anyone provide me with the information that defines when enforcement of an agreement times out after 6 yrs

I've got some 1st credit numpty trying to enforce an agreement from 2001

[Amethyst]

Re: Timed out agreements

6 years from date of last acknowledgement that you owe the debt (be it payment, offer to pay etc)

[Curlyben]

Re: Timed out agreements

That would be s5 of Limitations Act 1980

An action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.

So assuming the last acknowledgement either in writing or by payment was over the prescribed term then the debt is Statute Barred and CANNOT be enforced in court.
Also once you have made them aware of this fact and they continue to push for payment they are in breach of the OFT's collection guidelines on this.

it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period

More here with useful letter: Debt Factsheets - Liability for Debts and the Limitation Act
and this from HMRC: Law relating to debts: statute-barred debts

[righty]

Re: Timed out agreements

6 years from date of last acknowledgement that you owe the debt (be it payment, offer to pay etc)

Any payment or acknowledgement after 6 years does not mean the debt ceases to be time barred. Any such payment or acknowledgement after 6 years is a mistake & the debt still cannot be enforced.

In fact you could argue 'undue enrichment' & ask for your out of time payments back
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Can anyone provide me with the information that defines when enforcement of an agreement times out after 6 yrs

I've got some 1st credit numpty trying to enforce an agreement from 2001

1st credit are famous for trying to enforce time barred debts & watch out for their next tactic a SD

[Amethyst]

Re: Timed out agreements

Agreed Righty, after 6 years from last acknowledgement/payment, its time barred, if you then made a payment, it would then fall into being able to be argued as a mistake.

If, though, you paid etc within those initial 6 years it would reset that clock.

[frisp]

Re: Timed out agreements

Thanks guys