Failed IVA, very old debt - can I be chased for it.

[Riz]

Re: Failed IVA, very old debt - can I be chased for it.

Exactly mate - but it never cos the DCA didn't know what they were doing, thus I am saying it was a huge error! But successful as he now has a letter confirming his half is extinguished (again a mistake as in England it doesn't become extinguished - thats in Scotland)

Serious, you couldn't make up some of the horror stories....

Whaaaaaaaaaaaaaaat?

Sorry. You should have said it was the DCA's error.

Jeeze! You couldn't get it more wrong if you tried.

[Never-In-Doubt]

Re: Failed IVA, very old debt - can I be chased for it.

You can't have just "half" the debt being due to it being SB with one party either. The other joint and severally liable person would be liable and could be taken to court for the lot.

p.s. just to add from memory they paid around 20% of her half in settlement so the debt is now gone, but interestingly they "could" pursue it - however they now have a letter confirming the whole lot is cleared as a F&F

that was lowells by the way with a barclays debt of £22k loan

[Never-In-Doubt]

Re: Failed IVA, very old debt - can I be chased for it.

If she paid before the 6 years were up, then that would have restarted the 6 years clock for both of them. Not just her.

Exactly mate - but it never cos the DCA didn't know what they were doing, thus I am saying it was a huge error! But successful as he now has a letter confirming his half is extinguished (again a mistake as in England it doesn't become extinguished - thats in Scotland)

Serious, you couldn't make up some of the horror stories....

[Riz]

Re: Failed IVA, very old debt - can I be chased for it.

That's my interpretation of it as well, unfortunately.

I seen an example, whereby it was 5.8 months old (SB) and then the wife took a call and made a payment of £20 toward the debt (joint loan) - the hubby refused to acknowledge and then at the SB date, he basically denied his "half" resulting in only half the debt being due.

Point is, had the wife not paid, they'd both have been within the limitation period of statute barred, ie +6yrs. Shame

If she paid before the 6 years were up, then that would have restarted the 6 years clock for both of them. Not just her.

Payment binds all persons liable and restarts the clock.

You can't have just "half" the debt being due to it being SB with one party either. The other joint and severally liable person would be liable and could be taken to court for the lot.

[Never-In-Doubt]

Re: Failed IVA, very old debt - can I be chased for it.

The most usual application of the part of s31 you have quoted is where there is acknowledgement or part payment on a debt where their is joint liability.

So on a joint debt, acknowledgement by a person (or their agent) resets the clock regards claims against that person, but not any other signatory. A payment however resets the clock for both. Odd distinction, but there you go.

That's my interpretation of it as well, unfortunately.

I seen an example, whereby it was 5.8 months old (SB) and then the wife took a call and made a payment of £20 toward the debt (joint loan) - the hubby refused to acknowledge and then at the SB date, he basically denied his "half" resulting in only half the debt being due.

Point is, had the wife not paid, they'd both have been within the limitation period of statute barred, ie +6yrs. Shame

* Edit to add
The above outlines a DCA error - not the procedure - see the next few posts to see the outcome!

[CleverClogs (RIP)]

Re: Failed IVA, very old debt - can I be chased for it.

Yes, but if they are acting as your "agent" then the usual interpretation of the act is that it has the same effect as acknowledging it yourself. i.e. they are not treated as another person for the purposes of that section, as they are acting on your explicit authority.

A pity.

I might think more clearly after I've smoked a coffee and had a cup of cigarette.

[Riz]

Re: Failed IVA, very old debt - can I be chased for it.

But there is also section 31 - link - to consider:

The rapacious IVA company was the acknowledgor, wasn't it?

Yes, but if they are acting as your "agent" then the usual interpretation of the act is that it has the same effect as acknowledging it yourself. i.e. they are not treated as another person for the purposes of that section, as they are acting on your explicit authority.

The most usual application of the part of s31 you have quoted is where there is acknowledgement or part payment on a debt where their is joint liability.

So on a joint debt, acknowledgement by a person (or their agent) resets the clock regards claims against that person, but not any other signatory. A payment however resets the clock for both. Odd distinction, but there you go.

[CleverClogs (RIP)]

Re: Failed IVA, very old debt - can I be chased for it.

I think Mrs D's right about it being statue barred

Any idea about whence to buy one of these barring statues of which I keep reading?

I'd like one for my garden.

[CleverClogs (RIP)]

Re: Failed IVA, very old debt - can I be chased for it.

Statute Barred debts become statute barred 6 years from the last date of acknowledgement or payment, if the IVA company didn't pay anybody, then there has been no acknowledgement. First thing I would want to know is where all the money you paid went????

Switzerland?

[CleverClogs (RIP)]

Re: Failed IVA, very old debt - can I be chased for it.

Update - so just got the yearly Electrol roll register and the council did not add me when I sent the request in April.

Since then I've had maybe one/two letter from debt collectors. Both went back as return to sender.

Do we still think its ok for me to register. Its only 1 years away from been statued barred now!

What would you gain, other than a say in which idiots are in power?

[CleverClogs (RIP)]

Re: Failed IVA, very old debt - can I be chased for it.

OK. The clock resets itself on either payment or acknowledgement of the debt.

The question is.... what payment or acknowledgement by who to who counts?

This is what the Act has to say....

http://www.legislation.gov.uk/ukpga/1980/58

But there is also section 31 - link - to consider:

(6) An acknowledgment of any debt or other liquidated pecuniary claim shall bind the acknowledgor and his successors but not any other person.

(7) A payment made in respect of any debt or other liquidated pecuniary claim shall bind all persons liable in respect of the debt or claim.

The rapacious IVA company was the acknowledgor, wasn't it?

[brewster0101]

Re: Failed IVA, very old debt - can I be chased for it.

Update - so just got the yearly Electrol roll register and the council did not add me when I sent the request in April.

Since then I've had maybe one/two letter from debt collectors. Both went back as return to sender.

Do we still think its ok for me to register. Its only 1 years away from been statued barred now!

[Never-In-Doubt]

Re: Failed IVA, very old debt - can I be chased for it.

Best of luck, just keep off the radar, so to speak and you'll be home-free in no time at all

[brewster0101]

Re: Failed IVA, very old debt - can I be chased for it.

Hah, agreed! But the principle makes sense - at least it's offered some closure and legible explanation which is all the OP needed really.

Thanks Rizzle

Does clear things up. Since I originally posted this thread I contact the two debt collection agents to inform them they had the incorrect address. This was over 3 weeks ago and I've heard nothing since.

So, I got myself on the electrol register and avoided the debt agents for now... Bargain.

Thanks guys for all your input, hope it helps more people other than myself.

[Never-In-Doubt]

Re: Failed IVA, very old debt - can I be chased for it.

I explained it a lot better the first time.

Should have left it.

Hah, agreed! But the principle makes sense - at least it's offered some closure and legible explanation which is all the OP needed really.

Thanks Rizzle