A concrete answer/Statute Barred

[Bluestar13]

Hi,
New to this but somebody pointed me in this direction saying was a marvelous site.

Basicly, without going into detail I wondered if anybody could give me concrete advice on what point does a debt become statute barred?.

Ive read so many forums and articles and they all seem to give different explanations. Even a leading dent charity today even gave me different explanations to that of another and dont know which way to turn.

Basicly, its BW legal acting on behalf of PRAC for a consumer credit debt where the last payment i made was 23rd May 2011 The default date on my credit file is 1st November 2011. Ive heard nothing until this letter out of the blue today. PRAC bought the debt last year.

Last payment 23rd May 2011. Default date 1st November 2011.
Where do i go from here?. Does the limitation act start from last payment or even 2 due payments after or from the default date stated on 1st November 2011?.

Would appreciate some concrete advice and thank you in advance

[warwick65]

Re: A concrete answer/Statute Barred

Hi

It is, I am afraid , incredibly complicated and there are many reasons why a debt may or may not be SB,

I believe there is a case going through at appeal that may add some light to the relevance of defaults however
It would help if we knew a little bit about the debt

have they issued a claim and on what date

You could argue that the 'clock' from the first possible date they could bring an action so for example

Capital One credit cards used to lay out a process of when they would issue a DN, it was after two missed payments but then look at your case

Was the last payment made on the due date?

Maybe the due date was 21 days later so lets say 13th June

so two missed payments leads to 13th September

They then send a DN - give 4 days for postage 17th sept , I think cap 1 often give 28 days to remedy - 15th Oct

See what I mean about complicated

However it is a complicated legal argument

[Bluestar13]

Re: A concrete answer/Statute Barred

Thank you.

I really appreciate your advice.

Like i say, last payment 23/05/11 and default date 01/11/11.

Shall i just wait ro see what happens next?

Obviously the default date is only 3 weeks away, hence why im asking for advice.

Thanks again

[warwick65]

Re: A concrete answer/Statute Barred

Hi

Have they actually issued a claim or even a letter before action/letter of claim?

[Bluestar13]

Re: A concrete answer/Statute Barred

Hi,

No, nothing like that. Just an envelope with a letter from PRAC stating they bought the debt last year and that BW legal would be the representative of the account and all correspindence to them. In the same envelope was a letter from BW legal stating they acting on PRAC behalf and i had 2 weeks to make contact. They also issued a default notice leaflet.

Thanks again

[charitynjw]

Re: A concrete answer/Statute Barred

I agree with Warwick....there is no one-size-fits-all answer.
Each case seems to be judged on it's particular facts.
For instance, is there a contract clause whereby the creditor reserves the right to terminate after (X) payments are missed?
Default markers on credit reference files have very little bearing on the legal position.