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How to determine if my financial obligation is statute-barred?

How to determine if my financial obligation is statute-barred?

Unsecured outstanding debts, including many loans, charge cards, catalogues and overdrafts will be statute-barred in normally England and Wales whenever you can state YES to all the listed here four points:

  1. it absolutely was significantly more than six years as you last made a payment; and
  2. A cause is had by the creditor of action significantly more than six years back; and
  3. you haven’t acknowledged the debt in writing during this right time; and
  4. the creditor hasn’t currently attended court for a CCJ.

Having a joint loan, it matters if either of you makes a payment. In the last 6 years if you have split-up, you may think a debt is statute-barred but it isn’t because your ex has made a payment to it.

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