ChatterBank2 mins ago
unsecured loan
2 Answers
is there a time limit that a loan company can chase you on a unsecured loan, after 8 years of not hearing a thing!!!!!!!!!!!!!!!!!!!!!!!
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For more on marking an answer as the "Best Answer", please visit our FAQ.I think there is a time limit of six years that there has to be some sort of action to claim payment on the loan. I only know this because I received notification out of the blue from Barclaycard that they wished me to settle my (three) credit cards from many years ago. I then read in the financial pages about them suddenly deciding to chase up old accounts but could not pursue them because of this time limit. Having said this, I would suggest that you should be sure that they have not been in touch for 8 years before rejoicing. If you have moved and they can prove that they have indeed TRIED to contact you, they may have a case. I think in my case that Bays handed all their old debts to an agency.
your fine there is nothing they can do, if they catch up with you there are some letters at the following website that you can print and send them
http://www.debthelpuk.co.uk/
http://www.debthelpuk.co.uk/