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is there a six year rule on not paying debts will they be written off if no payments have being made for over?

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  • is there a six year rule on not paying debts will they be written off if no payments have being made for over?


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Answer #1 | 02/01 2014 12:03
Not at all. The 6 year thing is not that debts are written off after no payments for 6 years BUT that the debt could be 'written off' if there has been no attempt to get payment for 6 years. All that a creditor has to do to keep a debt live is send a letter to the last known address for the debtor every 5 years and 10 months or so and the whole 6 year thing starts again. 6 years from last contact or attempted contact you see. The debtor can move as often as they care too without forwarding any details to the creditor but it makes no difference. As long as the creditor (or their debt collection agent) can prove they have ATTEMPTED to secure payment they have a new 6 year period in which to track down the debtor. Basically debt never goes away until it is paid. You have unpaid debt you have it for life. The catch 22 of this is that thinking th edebt is statute barred people try to get it removed from their files which means making contact which means the creditor knows where they are and if they can prove they have tried to get settlement the debt is still live and awaiting payment (probably with a good load of interest and other charges added too!)
Answer #2 | 02/01 2014 12:08
No, his debts won't be written off just because he has made no payments in six years. Not as simple as that. If the creditors have tried to contact him/obtain payment, those debts are alive and well.

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