The 6 year rule.....greenspun.com : LUSENET : Repossession : One Thread
I have heard from various people that lenders have agrred not to chase you if no contact was made within 6 years after a repo. Question is, if they sent a letter within that time, to which you did not respond, would they class that as making contact?
-- lisa (email@example.com), February 04, 2002
Yes, lenders have been known to claim that their sending of an earlier letter to the wrong address or their sending a letter that was not received *did* still count as making contact.
In practice it is all irrelevant because the lenders' six-year limit was only ever a press stunt. I know of no case - not one - where the lender has cried off the pursuit as a result of this self-imposed six-year limit.
Its voluntary nature means that they can abide by or ignore this limit as and when they choose.
-- Lee (firstname.lastname@example.org), February 05, 2002.