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Length of time before calling in a debt.

  • 18-07-2006 12:58pm
    #1
    DeVore
    Business & Finance Moderators, Entertainment Moderators Posts: 32,387 Mod ✭✭✭✭


    Is there a length of time , after which its not allowable for a bank to start legal proceedings to call in a debt?

    DeV.


Comments

  • #2
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    this might be of help ;)
    http://www.irishstatutebook.ie/1957_6.html

    it depends a lot on the debt type


  • #3
    DeVore
    Business & Finance Moderators, Entertainment Moderators Posts: 32,387 Mod ✭✭✭✭DeVore


    Personal bank loan... had a look through that (very comprehensive) but nothing jumped out before my eyes glazed over... :)

    DeV.


  • #4
    dermot_sheehan
    Closed Accounts Posts: 2,062 ✭✭✭dermot_sheehan


    DeVore wrote:
    Personal bank loan... had a look through that (very comprehensive) but nothing jumped out before my eyes glazed over... :)

    DeV.
    It's 6 years to issue proceedings for breach of contract. If it's a mortgage it's longer (12 years I think).


  • #5
    Thomas_S_Hunterson
    Closed Accounts Posts: 6,151 ✭✭✭Thomas_S_Hunterson


    Damn you beat me to it.

    All that reading for nothing :D


  • #6
    DeVore
    Business & Finance Moderators, Entertainment Moderators Posts: 32,387 Mod ✭✭✭✭DeVore


    Thanks for the feedback guys. Very interesting...

    DeV.


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