Statute Barred Admission of Liability Question

[Sophie1994]

Hi everyone I have a quick question that i have tried finding an answer for but my particular question is a bit harder to find good info on so i thought id try here.

Just what constitutes acknowledgement of debt? Or rather ill explain my situation and see if I have accidentally acknowledged a debt.

I had PPI on a couple of loans with Lloyds tsb, one paid off and the other defaulted since 2011 and is with a DCA. In March I decided to use resolver to try and see if I could get any PPI which I would be able to use to pay off any outstanding money if successful.

As the loads were so old did not remember any acc details or numbers so the information I put into resolver were very vague. Such as for example ' I remember taking such and such a loan in 2009 for approx £*** and it was applied for over the phone etc etc.

Would this be classed as acknowledging the debt?

I'm assuming the worst on this as it was only afterwards I began to learn about the statute of limitations but will be useful to know before making any further moves. The last payment on the acxount incidentally was the first week of Feb 2011 and I complained to Lloyds via resolver on the 1st March 2017.

Thanks All

[Kati]

Re: Statute Barred Admission of Liability Question

[MENTION=48934]Debt Camel[/MENTION] [MENTION=6]Amethyst[/MENTION] ... any idea?

[Amethyst]

Re: Statute Barred Admission of Liability Question

PPI reclaims are likely to be deemed as acknowledging the debt and resetting the time clock. So far you have only told a third party you may have had a loan ... so not direct acknowledgement - but like you say depends how it goes forward from here.

If your last payment was Feb 2011 then it is unlikely you would have been past the 6 years by March 2017 - but it would depend on the loan agreement, but mostly the date runs from the default / termination date rather than last payment.... limitations on credit agreements is basically the point where the lender could have taken action to recover the debt in full, so more likely May/June time. Does the debt still show on your credit file?

Is there a debt outstanding on the Lloyds loan that you were reclaiming PPI on and do you think the remaining debt is more or less than the PPI refund might be ?

Any PPI refund may be used directly to pay off the debt - sometimes if the debt has been sold on to a DCA the refund of PPI comes to you, but it would be wise to keep hold of the money and possibly negotiate a full and final settlement on the debt with the DCA to save any possible court action by them.

Where do things stand with the DCA on that debt at the moment ? Also if you applied over the phone did you receive copies of the credit agreement to sign and return ( as far as you can recall that far back ) ?

[Sophie1994]

Re: Statute Barred Admission of Liability Question

Thanks for your detailed answer much appreciated!

So, with regards to the ppi claim I believe it would be enough to use to negotiate a full and final settlement with the DCA, however the bank have rejected both of my claims saying that they contacted me previously and as i did not raise a complaint within 3 years of receiving theseletters my claim is invalid.


The debt does show on my credit file and it will be coming off my file in August. What's strange though is that account only reports from 2014 onwards on my credit file yet I defaulted in 2011. I also remember Lloyds at the time in July handing the acxount to scm solicitors and another one of their fake solicitors as part of their scare tactics.

With regards to the DCA the outstanding balance is just short of £1500 and i have not heard from them for years, apart from a fishing enquiry I got a few months ago. They sent me a text message that said I have an important message and had to click the link and upon doing so you have to input your date of birth as security. A very obvious fishing trip so i just input a different date and since then I've not heard anything.

[Sophie1994]

Re: Statute Barred Admission of Liability Question

I forgot to put - I decided it was probably best not to push further with the PPI claim due to not wanting to acknowledge directly..

If I leave it as it stands - is it safe to say I have not reset the clock?