Response to CML..Fact or fiction

My own case did not really involve the CML code, but it did involve the Limitations Act (Scotland) to a certain extent. I felt my lender settled with me on my terms when I brought to their attention that under the Limitations Act (Scots Law) that their pursual was time barred. In Scottish Law a lender has to take court action to recover a debt like a mortgage shortfall within FIVE years. The fact that they may have written several letters does not count. Providing the debt has not been acknowledged and no LEGAL action for recovery has taken place...TOUGH...they are time barred - Scots Law only

Don;t know if this is what you are looking for but it might help someone in Scotland fighting a shortfall/debt.

Moira

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