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

    • 08-07-2011 09:25PM
      #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:


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    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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