Response to 12 Year rule?

Gary, this 12 years from last contact thing is a misnomer. Specialty debts have a 12 year shelf life - period. The time clock starts when the money due can be collected from the debtor - i.e. from the date of the default or the repossession, which ever happens first. That is legislated for in the Limitations Act which has not been overturned by any Court case to date. Where the longer time limit applies is in the situation where a Money Judgement Order has been obtained at the eleventh hour - such as 11 years into the 12 year period. Then and only then can another 6 years (not 12) be tacked on. So far, I know of no case where this has actually happened.

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