Er...Guy....(posted 7976 days ago)"Time can start to run afresh whenever a debt is acknowledged in writing or a part payment is made during an existing limitation period."
This is a classic scare tactic used by Lenders and their staff, particularly those who post on here. Twelve years (specialty debt limitation) is set in stone from exactly when you stated *unless* criminal proceedings are invoked - the limitation period doesn't start again once you part pay or acknowledge the debt. For many of us, contractual default (yes you do have to look at contract Law) occurred way before the repossession. Lenders still insist that it occurs from the sale of the property, which is an increasingly untenable position to maintain. Either way, they have twelve years - period - until the C of A says otherwise. MIG payout portions are most likely debt simple, as it is impossible to inherit specialty debt status under Rights of Subrogation unless the original mortgage contract is redrawn and signed under seal by *all* parties - hardly practical under the circumstances.