Could anyone just confirm something for me: If an alleged debt is over 12 years old, then it is now statute-barred, regardless of whether or not the lenders are members of the Council of Mortgage Lenders - right or wrong?

Sorry, I'm sure the answer is as obvious as it seems, its just that JDL are trotting this out as an excuse to continue chasing me and I'd just like to make sure before I tell them to shove it!

Many thanks

-- M (em.elle@virgin.net), November 06, 2003

Answers

Correct - on the assumption that you have never done anything that could have started the clock running again e.g. acknowledging the debt, making a part payment etc. The CML is a red herring so far as the 12 year rule goes - in fact, if you read other entries on this site it actually undermines their case.

-- Brian Mitchell (pridegreen@ntlworld.com), November 06, 2003.

Statute barred? If Scottish Law applies the matter could be time barred in 5 years provided no court action has been raised for the debt and you have not admitted liability!

The five years will start either on the date the property was sold or the first default date...it depends what is stated in the mortgage deed (not to be confused with the title deed)

It might not apply to you but I understand many Scots read the site and hopefully it might help someone!

Moira

-- Moira (Anderston828@aol.com), November 08, 2003.