statute barred

[madmakkusu]

i have a letter requiring me to pay for a debt which is very old by robinson way via hoist portfolio holding 2. either way the same people
the original debt was with a bank .
i have looked on my credit file and the debt is not there.
so i am assuming that the debt is statute barred. is this correct and if so why is it still being chased.
can anyone help me in this matter as i want to contact the bank to see the status of this said debt. if it still exsists.
It would be very helpfull if anyone has a template letter to send to the bank to find out the status.

can anyone help me please.

[FlamingParrot]

Re: statute barred

i have a letter requiring me to pay for a debt which is very old by robinson way via hoist portfolio holding 2. either way the same people
the original debt was with a bank .
i have looked on my credit file and the debt is not there.
so i am assuming that the debt is statute barred. is this correct and if so why is it still being chased.

Hi and welcome aboard

Whether it's SBd or not depends on whether there was a period of at least six years without any payments or written acknowledgment. Defaults drop off six years after they are recorded but many people keep making reduced or token payments or pay through a DMP after defaulting, in which case it may not be SBd.

Debt purchasers wouldn't know whether a debt is SBd or not as I said above, it's not as simple as it not being on your credit file, so they can still chase it.

can anyone help me in this matter as i want to contact the bank to see the status of this said debt. if it still exsists.
It would be very helpfull if anyone has a template letter to send to the bank to find out the status.

can anyone help me please.

There is no official 'statute barred' status as such, no record of SBd debts that can be looked up if that's what you are referring to.

If you are looking to obtain statements from the bank, you could send a SAR letter such as this one: http://www.legalbeagles.info/forums/...765#post382765 However, be warned that many banks will argue they don't hold data older than six years.

If you never made any payments after defaulting, neither to the bank nor to Robinson Way, Hoist, or anyone else, then you should just send Hoist the SBd letter posted here: http://www.legalbeagles.info/forums/...252#post521252 :typing:

Once you tell them the debt is SBd, they should stop chasing it unless they can show it isn't SBd, the onus will be on them to prove it isn't (if they can )

[jon1965]

Re: statute barred

Can i add the caveat that only send the SB letter if you are sure, if it is a current account it can take some time, months or even a year or more for the bank to actually close/default the account and demand full repayment.

Also any SB letter has to be very carefully written , it seems that it could be taken as acknowledgement.

[nemesis45]

Re: statute barred

i have a letter requiring me to pay for a debt which is very old by robinson way via hoist portfolio holding 2. either way the same people
the original debt was with a bank .
i have looked on my credit file and the debt is not there.
so i am assuming that the debt is statute barred. is this correct and if so why is it still being chased.
can anyone help me in this matter as i want to contact the bank to see the status of this said debt. if it still exsists.
It would be very helpfull if anyone has a template letter to send to the bank to find out the status.

can anyone help me please.

Hi the debt not showing on CRA files means only that 6 years have elapsed since the account was defaulted.
If this was a loan/current account/overdraft the relevant 6 year period started when the creditor demanded
immediate repayment in full, after which nothing was paid or admitted in writing for 6 years.
For a credit card the date of the last payment + 1 month.
A debt purchaser has no knowledge whatsoever regarding the status of the debt. Debts are sold in very
large portfolio lots with the absolute minimum of detail...

Is this an " introductory" letter or are Hoist /RW threatening diverse consequences if you don't reply.

nem

[FlamingParrot]

Re: statute barred

Can i add the caveat that only send the SB letter if you are sure, if it is a current account it can take some time, months or even a year or more for the bank to actually close/default the account and demand full repayment.

Also any SB letter has to be very carefully written , it seems that it could be taken as acknowledgement.

Where have you seen that? Have you got a link?

[jon1965]

Re: statute barred

Where have you seen that? Have you got a link?

A couple of links actually
They take some reading through

http://www.consumeractiongroup.co.uk...statute+barred

Frankly though they still haven't understood the law over there and are still saying 1 month after last payment (and that's site team )

What I am suggesting is that if the debt is not actually SB then a letter saying this debt is statute barred could be seen as acknowledgement of the debt , hence sending them off willy nilly is probably not a good idea.

[FlamingParrot]

Re: statute barred

A couple of links actually
They take some reading through

http://www.consumeractiongroup.co.uk...statute+barred

Frankly though they still haven't understood the law over there and are still saying 1 month after last payment (and that's site team )

Thanks :yo:

I can see only one link here but I shall take a look at it. I tend not to go to that site at all so I'm not familiar with the threads on there.

What I am suggesting is that if the debt is not actually SB then a letter saying this debt is statute barred could be seen as acknowledgement of the debt , hence sending them off willy nilly is probably not a good idea.

Would be interesting to see if that argument has actually been used in court to a creditor's advantage, i.e. whether a judge would have agreed that a SBd letter sent prior to the debt being SBd constituted acknowledgment and it could be enforced.

Off to have a read...

[CD36]

Re: statute barred

I thought I was clear on this until I read about the BMW Finance case, or does that only relates only to HP agreements?
With relation to credit cards/loans what happens if no acknowledgement or payment is made for 6 years, but the creditor takes two years to issue a default or maybe never issues one. Is it still barred?
Also does a default have to be issued before a debt can be passed or sold to a DCA for collection?

[FlamingParrot]

Re: statute barred

There are a couple of threads where the issue was discussed at some length, including the BMW case: http://www.legalbeagles.info/forums/...red#post400620
and http://www.legalbeagles.info/forums/...red#post399097

[jon1965]

Re: statute barred

There is another link
http://www.consumeractiongroup.co.uk...t-Prejudice(-)

[CD36]

Re: statute barred

Thanks for the links. I'm even more confused now!

[jon1965]

Re: statute barred

Don't worry I find the whole COA thing very confusing I know PT has made comment on it but I can't find it at the moment
I tend to not worry about it too much and will face it as and when I need to

All my big accounts were defaulted during the time I was in a DMP so for them I say its last payment which is Jan 2012 , any others are PDL's so not a real worry

I believe that yes they should be defaulted prior to sale, in fact the only one of mine that wasn't was written off and default removed when I made a formal complaint although it was only £500

[FlamingParrot]

Re: statute barred

Don't worry I find the whole COA thing very confusing I know PT has made comment on it but I can't find it at the moment

This isn't one of them "nice and simple", uncomplicated issues, the devil's in the detail, however, as I said on one of the other threads, the exact date when a debt became SBd is only really relevant when a claim has been issued.

You may be referring to this post where he said it was all to do with contractual terms:

The terms of the contract are very important too, plus you need to consider at what point the creditor is entitled to demand the full balance as that will be when limitation could be argued to run from.

On some regulated agreements, the creditor is not entitled to the full sum until he serves a compliant notice or demand, in such circumstances the case of Hart may well apply . Some Courts have found that unless and until a compliant notice is served and thus the agreement is terminated then limitation doesnt start to run.

Its a very difficult point to argue

- - - Updated - - -

yes but the creditor at that point is only entitled to demand repayment of the missed payment, his claim therefore is for one payment not the full balance. He can only get the full balance if he defaults and terminates

[CD36]

Re: statute barred

^^ Both of my cases were covered in other threads which nem and FP have helped with during the past few years. Neither could supply agreements and neither have been acknowledged or paid for over 7 years. But, just when I think they are SB'd someone comes up with something else to make me wonder.

[jon1965]

Re: statute barred

http://www.legalbeagles.info/forums/...007#post552007

Thats the one, I thought it was in his blog
The devil really is in the detail and that is why my view is hang back until you have to state SB

In my Cap 1 agreement it says that if I made a remedial breach they would give me 30 days to fix it prior to terminating the account so miss a payment and another 30 days + the time for them to send the letter. It also says that under exceptional circumstances they can demand full payment and close the account with 7 days notice however for persistent or irremediable breaches , subject to sending a default notice they can close the account and ask for full repayment. It doesn't say if the DN is a S87 DN or not
So it seems to me that it will all depend on the contract and what the breach (if any) was

- - - Updated - - -

^^ Both of my cases were covered in other threads which nem and FP have helped with during the past few years. Neither could supply agreements and neither have been acknowledged or paid for over 7 years. But, just when I think they are SB'd someone comes up with something else to make me wonder.

Well if they can't supply agreements I wouldn't worry too much and if they were, in a mad moment to issue a claim they would still have to find the agreement and then if they did that you would argue either unenforceable or statute barred . It really isn't worth the worry-says me who worries about EVERYTHING