In 2001 I had about €2500 shares in a credit union. I took out a loan for €2500 and ran into trouble with the final repayments of €940. I was engaged in discussions about repayments for some time and was led to believe that my shares could be used as a means to settle the loan. I since realised that this was not possible. Being young and stupid at the time I ignored it and moved around a lot and any paperwork did not follow me.
Fast forward to 2017 where I phoned the credit union in question re the shares. I was informed that as I owed them money there was no way was I having anything from them etc. I let this go at the time. Nothing was arranged and nothing was done on paper, just a phone call. I then started receiving calls\letters from debt collectors which stated a different credit union than the one I had borrowed from so I denied everything. Eventually they stopped.
I recently received my credit Central Credit Register report which shows the credit union loan as active and is dated back to 2017 to the present.
What constitutes an acknowledgement of debt? Was the statute of limitations affected by my phone call in 2017? I've been advised by the CCR to contact the lender in order to amend the report. I am prepared to be flamed in comments re the bad debt and acknowledge how stupid it was.