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Cancelled Debt.

Cancelled Debt.

Postby Hairyloon » Fri Mar 09, 2018 8:23 am

A alleges that B owes them money. They engage a series of debt collectors then ultimately write to B and say that they've decided to not bother.
Is there anything to stop them changing their mind later?
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Re: Cancelled Debt.

Postby atticus » Fri Mar 09, 2018 9:10 am

No.

The creditor can come back at any time. Suppose the debtor wins the Lottery?

The only thing the creditor needs to bear in mind is limitation.
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Re: Cancelled Debt.

Postby Hairyloon » Fri Mar 09, 2018 11:26 am

atticus wrote:No.

The creditor can come back at any time. Suppose the debtor wins the Lottery?

The only thing the creditor needs to bear in mind is limitation.

I'll tell him to not bin the paperwork just yet.
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Re: Cancelled Debt.

Postby PeteLukeSilva » Fri Mar 09, 2018 1:00 pm

Estoppel principles spring to mind (depending on the facts, obviously).
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Re: Cancelled Debt.

Postby atticus » Fri Mar 09, 2018 1:03 pm

Hugely fact dependent. Reliance and acting to detriment will need to be proved if an estoppel argument is to have any chance.
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