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Owed money from 10 years ago.

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Re: Owed money from 10 years ago.

Postby Nissan » Sun May 22, 2016 2:25 pm

So how many times can I ask her?
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Re: Owed money from 10 years ago.

Postby 3.14 » Sun May 22, 2016 2:53 pm

Why not try and sell the debt?
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Re: Owed money from 10 years ago.

Postby atticus » Sun May 22, 2016 3:11 pm

Would you buy an irrecoverable debt?
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Re: Owed money from 10 years ago.

Postby Hairyloon » Sun May 22, 2016 3:34 pm

atticus wrote:Would you buy an irrecoverable debt?

Debt collection organisations do quite often. Harassing people presumably works often enough to make it worthwhile, and the law is sufficiently lax that they think it worth the risk. I believe they only pay a fraction of the face value.
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Re: Owed money from 10 years ago.

Postby Hairyloon » Sun May 22, 2016 3:36 pm

Nissan wrote:So how many times can I ask her?

That may depend upon how nicely you are asking. You must not pursue a course of conduct which amounts to harassment.
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Re: Owed money from 10 years ago.

Postby 3.14 » Sun May 22, 2016 4:10 pm

atticus wrote:Would you buy an irrecoverable debt?
No but I am not one of those companies that do it. They tend to buy them in bulk though.
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Re: Owed money from 10 years ago.

Postby Nissan » Wed May 25, 2016 9:35 am

Hairyloon wrote:
Nissan wrote:So how many times can I ask her?

That may depend upon how nicely you are asking. You must not pursue a course of conduct which amounts to harassment.


And exactly what amounts to harassment?

I don't expect to get anything back tbh and persuing through a court would most likely be expensive. However knowing the person continually asking her for payment when she refuses to reply to any communication will unsettle her. I might have to settle for that.
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Re: Owed money from 10 years ago.

Postby Hairyloon » Wed May 25, 2016 12:47 pm

A course of conduct intending to "unsettle" is likely to amount to harassment.
There are, I think, published guidelines for debt collectors: you might want to look them up.
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Re: Owed money from 10 years ago.

Postby shootist » Wed May 25, 2016 2:18 pm

Did you have any agreement in writing about the loan and how it was to be repaid? If not, I think you are completely stuffed.
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Re: Owed money from 10 years ago.

Postby theycantdothat » Wed May 25, 2016 4:39 pm

atticus wrote:That clock is set back to zero if the debtor acknowledges the debt or makes a payment towards it.


Just for the record, the acknowledgement or part payment must be made before the period of limitation expires - see section 29(7) of the Limitation Act 1980.

Also, limitation does not strictly cancel the debt. If the debtor pays after the period of limitation expires no amount paid can be recovered.
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