Statute Barred- Full explanation

[mrbean13]

Hi I have been paying GBP1.00 towards my credit cards since the last 6 years. I continue to remain under dire financial circumstances and if I have been paying the minimum amount each month can this constitute as statute barred as its been over six years? Can someone please explain how this process works?
:tinysmile_cry_t:

[Nibbler]

Re: Statute Barred- Full explanation

To be statute barred, then there would either directly after the cause of action or at some point later, need to be a continuous period of 6 years during which you or your 'agent' neither made a payment or acknowledged the debt in writing.

If there has not been that period of 6 years without payment or acknowledgement at some point, then it cannot be statute barred.

[righty]

Re: Statute Barred- Full explanation

Sorry but no its not statute barred. By making payments you have accepted the debt. If you were to stop payments now it would be another 6 years from that date before being SB'd

[Johnboy007]

Re: Statute Barred- Full explanation

Just keep paying it......... £12.00 a year is not hard if you set up a direct debit.

[mrbean13]

Re: Statute Barred- Full explanation

Thanks everyone