question category: Other Debt Questions

How long are you held accountable for an outstanding debt?
Submitted on: 18th Feb 2009 by Non-Member | Total Answers: 1

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Re: How long are you held accountable for an outstanding debt?

Unsecured debts (loans, cards etc) have a statute of limitations of 6 years.

This means that if you have not been contacted about the debt, have not made a payment, have not admitted to the debt and there has not been a court judgement it is probably unenforceable under the statute

I have a free fact sheet all about it

For mortgages the limit is 12 years.

However if the creditor has obtained a judgement against you there is no time limit on the debt.

If you have a debt you think might be statute barred click on my name and email me at Debt Advice Foundation.

Submitted on: 27th Apr 2009 by Darren Member

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