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Restarting the limitation period on a debt

  • 28-12-2017 10:43pm
    #1
    Fake News
    Closed Accounts Posts: 93 ✭✭


    Is payment the only way to restart the limitation period on a debt or could written acknowledgment of the debt suffice?


Comments

  • #2
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


  • #3
    Fake News
    Closed Accounts Posts: 93 ✭✭Fake News


    Fred Swanson wrote: »
    Exactly. A payment of even 1 cent would be enough or written acknowledgement is needed.

    Are lenders or debt collectors allowed pay into the debt to prolong the limitation period?


  • #4
    Peregrinus
    Registered Users, Registered Users 2 Posts: 27,258 ✭✭✭✭Peregrinus


    No. The payment must be made by or on the authority of the debtor.


  • #5
    Fake News
    Closed Accounts Posts: 93 ✭✭Fake News


    I was told today by a debt advisor that the 6 year limitation period only applies if the lender ceases correspondence with you. Is this correct? She said that it was the debtors responsibility to inform the creditor if there was a change in circumstances such as a change of address or telephone number and provided that the creditor maintained correspondence with you at your last known address then the debt was still valid regardless of the limitation period.


  • #6
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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  • #7
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,859 ✭✭✭GerardKeating


    Fred Swanson wrote: »
    This post has been deleted.

    If they phoned the debtor, and the person answered the phone, would/could that reset the clock?


  • #8
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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