6 year rule/out standing debt?greenspun.com : LUSENET : Repossession : One Thread
Can you be chased for an outstanding debt after 6 years?
I had a personal loan back in 1990 and then moved address, due to my financial situation at the time I could not afford to pay the loan repayments, I did how ever pay the due amounts due until Jan 1991 before I moved away from the area, then I stuck my head in the sand for 10 years hoping it would go away, where do I stand now? will I have to pay any interest or will the loan be written off, the loan was with a major high street bank and I have been on the electoral roll for 7 years.
-- Colin Peter James (firstname.lastname@example.org), February 01, 2001
Detailed answer lies in various posts in this forum and in a few-days- old document in the Repossession section.
To find the questions in this forum that cover this, please do a search (Edit | Find in your web browser) for 6, six, or limit. This will bring up the various titles of questions that previously asked the same question.
-- Lee (email@example.com), February 01, 2001.
Like Lee says, go to the Repossession section and look in the scetion about 6/12 years. If that raises any specific questions about your particular case, please come back to the Q&A board with your queries.
-- Eleanor Scott (firstname.lastname@example.org), February 17, 2001.