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How long can pass before you are no longer liable to pay a debt back?

  • 08-07-2011 8:25pm
    #1
    MILF
    Registered Users, Registered Users 2 Posts: 375 ✭✭


    Hi all,

    I'm not sure if this is even a question that makes sense but I'm nearly positive I heard that if you have a debt that hasn't been chased up by your creditor, you are no longer liable to pay this debt after a certain time frame. Is this right??

    Any help appreciated!
    Tagged:


Comments

  • #2
    Kevin Duffy
    Closed Accounts Posts: 3,439 ✭✭✭Kevin Duffy


    MILF wrote: »
    Hi all,

    I'm not sure if this is even a question that makes sense but I'm nearly positive I heard that if you have a debt that hasn't been chased up by your creditor, you are no longer liable to pay this debt after a certain time frame. Is this right??

    Any help appreciated!

    Are you trying to deliberately avoid paying a debt?


  • #3
    MitchKoobski
    Registered Users, Registered Users 2 Posts: 6,101 ✭✭✭MitchKoobski


    Pay the debt.


  • #4
    bath handle
    Banned (with Prison Access) Posts: 370 ✭✭bath handle


    It is not quite that simple. After 6 years ( or 12 if under seal) the statute of limitations can be pleaded as a defence in an action. Acknowledgement of the debt restart the clock. The debtor always owes the money. Even after the limitation period the creditor may be able to get satisfaction.


  • #5
    Ickle Magoo
    Closed Accounts Posts: 17,485 ✭✭✭✭Ickle Magoo


    You should speak to a solicitor or whomever you are in debt to.

    We cannot offer you advice on legal matters.


This discussion has been closed.
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