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Scottish Trust Deed Forum
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Topic starter
13/05/2012 8:28 am
Did trust deed in 2003 was protected discharged in 2007 .yesterday got a letter saying my loan is being sent to a debt collection company and they will be in touch about future payments.i beleave the loan was inclued in trust deed phoned loan company the have no record that i signed trust deed they said loan was defaulted on 2004.we think it strange getting letters after all these years can i still contact my trustee for advice after all these years i know its stupid but i am worried in case i get more letters asking for payments and the end up taking us to court.
13/05/2012 8:37 am
Hi joe
As you have heard nothing in 5 years, then prescription applies which means they cannot pursue you in any circumstances. That said, if it was included in the trust deed, they can't do anything anyway.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
13/05/2012 4:36 pm
Prescription would only apply if you have remained at your address you took out the debt and haven't moved and the creditor has not chased up the debt for 5 years
But as you say it was included in your trust deed so would not worry about it
13/05/2012 4:37 pm
Prescription can be interrupted if creditor can show that they have tried to locate you during the period
13/05/2012 5:31 pm
Hi bpm
Could you point us in the direction of that piece of legislation? Kind of defeats the purpose of edictal service don't you think.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
14/05/2012 9:27 am
reply to what bpm has said i have lived at this address for 12 years i took the loan out of this address and i have not moved the last letter i got from the loan company was back in 2003.
14/05/2012 9:42 am
Bottom line is that the debt is no longer owed, joe1. Makes no difference that the loan company say they weren't aware of the trust deed. You should tell them so and ask them to stop any further letters or risk you complaining to the relevant body.
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14/05/2012 1:18 pm
Certaintly mark and point taken -
The legislation is the Prescription & Limitation (Scotland) Act 1973 which presribes the nature of your debt after 5 years.
Based on the further information provided, i would agree with Kevin
regards
Topic starter
14/05/2012 1:25 pm
been in touch with my trustee sent them a copy of the letter. said they will be writing to the loan company.
14/05/2012 3:44 pm
Good stuff joe1.
There really doesn't seem to be anything for you to worry about, and its great to hear your old trust deed firm are going to help out.
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