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Statute Barred Debts - Making a Will and Dealing With Estate

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  • #16
    You are correct, in that being statute barred only means that the creditor cannot issue legal proceedings to recover a debt that has become statute barred. They can still ask for repayment of such a debt, but they are unable to enforce through the courts.

    To protect a PR from these claims, a statutory advertisement should be placed in the in The Gazette and also in a newspaper local to the deceased. If the estate includes a property, a notice should also be placed in a newspaper that's local to wherever the property is located.

    Placing a 'deceased estates notice' in the Gazette and the local papers ensures that a PR legally has taken sufficient steps to locate creditors before the estate is distributed to beneficiaries. This protects the PR from any liability from unidentified creditors.

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