How long do debt collectors chase for?greenspun.com : LUSENET : Repossession : One Thread
How long do trace agencies have to chase a mortgage debt , because Im confused, The Bank/Building Society have 6/12 yrs, But if they SELL the debt to tracing agents/ Debt Collectors , How Long do they get to chase you for? it feels Like forever.......
-- K (Graham@gloughran.fsnet.co.uk), October 29, 2002
Why not just pay it if you owe it!!!!
-- whocares (email@example.com), November 08, 2002.
I have been advised that the debt carries the original applicable limitation period regardless of who "owns" it in the course of events. My shortfall has been sold on twice to my knowledge, but I am working (now) on the basis that they have twelve years from the original default, subject to no MJO being put in place.
-- Too scared to say (firstname.lastname@example.org), November 08, 2002.