Is property charge interest added for 6 years only?

[mike'y]

Hello everybody,

It's nice to see the forum going so well. I pop back from time to time to look around even though my matters are settled :-)

However, there's something I thought I'd saved on my pc that I can't find. There was a conversation on this forum probably between Andrew and Niddy. Something about interest being added for 6 years but after that no more interest could be added? Did I dream this or can somebody direct me to the thread please? Thanks.

Mike.

[nightwatch]

have not got a clue.

you could email niddy with the question.

[Joanna Connolly Solicitors]

there's something I thought I'd saved on my pc that I can't find. There was a conversation on this forum probably between Andrew and Niddy. Something about interest being added for 6 years but after that no more interest could be added? Did I dream this or can somebody direct me to the thread please? .

Hello

Maybe this is something we’ve spoken about previously?

Di

[mike'y]

Hi Di,

Hope all's well. We have spoken about it and I'm sure if I'm correct I would have saved the information. I just can't find it , doh. It may be in one of the 'saved' threads. I'll go for a trawl in a moment.

Found it, your post no 5 on here:

https://all-about-debt.co.uk/forum/d...arge-f-f-offer

The link won't open for me.

Mike.

[The Tech Clerk]

This it? :-

April 2014, 13:51


Re: Property Charge F & F offer?

I got your PM and my apologies for not replying quicker.

I've just learnt something from Andrew on another thread which may interest you (pardon the pun).

He's saying that after six years the claimant may not be able to add any more interest to a CCJ if the debtor (sorry about that horrid word) has not made any payments during that period.

Have a read of this: http://forums.all-about-debt.co.uk/s...l=1#post390358 Note:- Link Inoperative!!

Can you update on whether you have been paying anything to the claimant since this recent CCJ? What is the atmosphere like between you, and are they pursuing you vigorously or assuming you can't pay hence the CO on your property in the hope of collecting the money owed when you sell the house?

It seems from your first post your main (and possibly only) concern was the 8% interest being added not the fact that you'll have to pay up one day.

[mike'y]

^ Yes that's it. I had hoped to be able to open the link and in future shall copy and paste things I need to save. Can that link be revived? Thanks. Mike.

[nightwatch]

Morning Mike.
sorry the link will not open up, this is because when we upgraded the site a lot of things had to be left behind. as Andrew was no longer on the site, i am assuming the discussion was deleted.

Best wishes NW

[mike'y]

^ Ok thanks. I don't know if anybody saved the contents but recall it was a very interesting topic.

[mike'y]

Hello

Maybe this is something we’ve spoken about previously?

Di

Hello Di,

This is still on my mind but I can't find the information. Did you happen to save a copy of the link? I'd like to put the information in my file, right at the top :-) Thanks.

Mike

[Joanna Connolly]

Section 24(4) of the Limitations Act 1980 provides that:
"no arrears of interest in respect of any judgment debt shall be recovered after the expiration of six years from the date on which the interest became due."

[mike'y]

Thank you very much Joanne. That's very helpful. I had a charge put on my property over 6 years ago and haven't made any payments to the creditor. I was seeking to establish if the interest's maxed out and hopefully that's the case. I feel a lot happier having read your reply. Mike.