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

[Never-In-Doubt]

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

Any ideas what that actually means?

I have a sneaking suspicion that it may mean that payments/acknowledgement made to the IVA company may count after all?

I agree, it suggests that if the IVA company make contact OR payments then it "counts"; however surely only if the IVA company contacted that particular agent (i.e. creditor)..... so say the IVA company was in charge of 10 accounts, and only made payment to 5 of them, the other 5 would not be counting towards SB unless the IVA agent actually contacted them and re-acknowledged the debt; which as you say they most probably did! That would apply regardless of payments being made as the initial acknowledgement broke the "timings" as such.

(sorry waffling as well now....)

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Sorry for the above waffle and water muddying.

I still think that this debt is probably not statute barred. It was just the reasoning as to exactly why that I was pondering.

I agree - it is definitely not SB'd and best to continue to ignore me thinks.....

[Riz]

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

Rizzle - why delete that post? It was spot on mate

I explained it a lot better the first time.

Should have left it.

[Riz]

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

lol. That's still not hugely clear.

In a nutshell, I think it's not statute barred.

It's just I wasn't sure if that was for 1 or 2 reasons.

[Riz]

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

So, looking at that, it seems at first glance that any acknowledgement or payment must be made to the creditor or their agent.

And that acknowledgement or payment would be effective if it was made to the creditor by the IVA company acting on your behalf.

Now it's clear that the IVA company didn't make any payments, so that rules that out and just leaves acknowledgement.

I would be very surprised if the IVA company did not write to creditors at some point acknowledging the debts. They would have had to do so at the start of the IVA, and presumably would have written to them again when it failed?

So that would mean effective acknowledgement was likely at the end of the IVA period at least.

I suppose it's possible that the IVA company could have been completely negligent, but I doubt it.

Then there is the bit I wanted to check and haven't got round to yet.

or, as the case may be, in respect of whose claim the payment is being made.

Any ideas what that actually means?

I have a sneaking suspicion that it may mean that payments/acknowledgement made to the IVA company may count after all?

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Sorry for the above waffle and water muddying.

I still think that this debt is probably not statute barred. It was just the reasoning as to exactly why that I was pondering.

[Never-In-Doubt]

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

Thanks Rizzle, perfecto

[Riz]

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

29.

(5) Subject to subsection (6) below, where any right of action has accrued to recover—

(a) any debt or other liquidated pecuniary claim; or

(b) any claim to the personal estate of a deceased person or to any share or interest in any such estate;

and the person liable or accountable for the claim acknowledges the claim or makes any payment in respect of it the right shall be treated as having accrued on and not before the date of the acknowledgment or payment.

30 Formal provisions as to acknowledgments and part payments.

(1) To be effective for the purposes of section 29 of this Act, an acknowledgment must be in writing and signed by the person making it.

(2) For the purposes of section 29, any acknowledgment or payment—

(a) may be sent by the agent of the person by whom it is required to be made under that section; and

(b) shall be made to the person, or to an agent of the person, whose title or claim is being acknowledged or, as the case may be, in respect of whose claim the payment is being made.

[brewster0101]

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

Any new thoughts on this ?

[Never-In-Doubt]

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

Advise heard and understood.

Keep popping back cos Rizzle found a useful bit of legislation and will post it when he clarifies a finer point (hopefully)....

But in essence, just continue as you have done to date and await a full 6 years from August 2006

[brewster0101]

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

it's still more than likely within limitation period so best to stay off the radar until definitely after august 2012 (6yrs)...

Advise heard and understood.

[Never-In-Doubt]

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

Ahh I get you however it was exactly what would answer the point and was well stated - was hoping you've kept it so you can re-post? Thanks - really useful, and you know it'll be how you originally interpreted it and like we agree on - it's still more than likely within limitation period so best to stay off the radar until definitely after august 2012 (6yrs)...

[Riz]

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

Rizzle - why delete that post? It was spot on mate

I want to double check the meaning of the last part of that SOL clause.

Doesn't change the fact that this is most likely NOT statute barred though...

Just don't want to post the right thing for the wrong reasons, if you see what I mean?

[Never-In-Doubt]

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

Rizzle - why delete that post? It was spot on mate

[brewster0101]

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

Thanks Niddy. What you've said is what I was thinking.

I have recently put myself on the electrol Roll as my credit file no longer shows any defaults or the IVA, so I thought I would start to get a step in on the credit ladder again. I think this is why Lowell started sending me letters.

I will continue to send them back for now. I have no reason to apply for any form of credit so I am not concerned about this for now.

Thanks for your input Niddy.

[Never-In-Doubt]

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

Brewster,

These debts are NOT Statute Barred as you last paid in 2006, which means that they become SB'd in 2012 - i.e. 6 years from last payment or acknowledgement of the debt. You mention that you failed the IVA and payments may not have reached the creditors; so what - the fact you (and they) agreed to an IVA means the statute barred clock in effect takes place from the date it failed, not the date it started.

So, as you're only a year away and the leeches (Lowells etc) are clearly doing their annual chasers, i'd sit tight and do nothing - wait until 6 years after the failed IVA (i.e. September 2012) at which point you can be 100% certain they are Statute Barred.

However, that said you need to get on the Electoral register for the following year so at least by 2012, you'll be showing up and will be able to open a bank account to start with - so go here ---> Register on the Electoral Register and register asap (don't worry, the remaining DCA's may well search you/write to you but just do as you are doing, send it back as unknown - they cannot do anything at this late stage).....

Make sense?

Niddy
:niddy

[brewster0101]

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

I am 50/50 thinking they are statued barred. I've been running from these debts for a number of years now - since the IVA failed really. Never had any CCJs or anything like that from any debt collectors. So they have never taken any firm action to get money from me.

Maybe worth trying to get hold of this national debt line I hear about.