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Topic starter
13/02/2009 4:44 pm
I have a debt of around ?ú11,000 which I tok out 6 years ago with Clydesdale Bank. I have moved house twice since then and am not sure the best way to deal with this.
I have not heard anything about this until last week when I received a letter from a collection agency and also a call although I'm not sure how they got my number. They threatened to take me to court unless i made an offer to them of at least 75% of the debt.
I'm not sure which way to turn.
Jean
14/02/2009 10:07 am
Hi Jean
From the information available, it would appear that prescription may apply. (different type from the chemist)
This takes account of credit cards, store cards, bank and building society personal loans, catalogues, finance company loans etc and applies if:
ÔÇó the creditor has not already obtained a decree against you; and
ÔÇó you or anyone else owing the money (on a debt in joint names) have not made a payment on the debt during the last five years; and
ÔÇó you have not written to the creditor admitting you owe the debt during the last five years.
In summary, if the creditor has not raised legal action and you haven't made payment or admitted the debt in the last 5 years then they cannot pursue you for the debt.
Hope this helps.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
