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Home / Debt Questions / Mortgage company debt

Mortgage company debt

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Can a mortgage company ask for a debt be repaid that is over 10 years old since anythings been paid?

Answer

They can ask you for the money at time, until the debt is cleared.

However, under the Statuate of Limitations Act, if there has been no contact between a debtor and a lender for a solid period of 6 years, then the debt can no longer be taken to court to get payment. As a result, if the debtor refuses to pay there is nothing that can be done, as there is no way to force them to pay. In this case the debt becomes statuate barred.

Its actually down to the lender to prove that the debt is not statuate barred.

However, if there is anything which counts as contact, then the statuate barred protection is lifted, and the 6 year period starts all over again.

As a result, on any communication you have to be very careful and state that you do not acknowledge the debt, and don’t sign any letters, just print your name.

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