Can a loan be time barred if they have a charge???

[mgfboy]

I was wonder if you had a loan that wasn't paid for 6 years, could ity become time barred even if they had a charge over your property and am I correct on defaults the date for the six years applies from the last payment rather than the default date????

[Shadow2981]

Re: Can a loan be time barred if they have a charge???

From my understanding, Defaults drop off after 6 years from the date of default...

SB is effective if you have not "acknowledged" the debt, not just haven't paid it. If you have written a letter and signed it, for example, you have acknowledged it...

I am not sure how a charging order effects SB though personally, but I hope that helps shed some light on it!

Just found this (sadly, it's not what you wanted to hear):

http://www.wragge.com/published_articles_3937.asp