Scottish and English debt laws are different, so if you are a Scottish resident and have questions on debt, then this is the place to post.

Moderators: TalbotWoods, JaneClack

By mike1y111
#49630 Hi all, any advice would be appreciated.

In late 2001 i got into some serious financial problems as a result of divorce, depression. I moved abroad for a bit and left all the information with a lawyer to get me sequestrated, but because i was not here none of the companies tried to get me sequestrated(i checked AIB register). I have not spoken to the laywer since 2002 about what had happened. I would say my last contact with the comapnies was june 2002 before i went away. I came back a year later and led a very quiet life. Through the blue i now recieve a letter from a company who claims to have bought the debt looking to recover this.

I am in the process of transfering my interest in our property(only £15k equity in it) so that the house is safe. I have read laot on this board on Statute Barred debt, and would like some advise please.

In Scotland is statute barred debt after 5years? If so when would the 5years start from. If everyone does crawl out of the woodwork and the debts are not stute barred, i am very keen to make Full and Final settlement. My total debt would have been £60k but with the interest god knows where i am at. What % of orginal debt would be the lowest a comapny would accept, considering i have no equity, self employed with mere earning and no assets and if need be willing to go for a BO.

Many thanks
By GR
#49810 I may be wrong but I was under the impression that it became statute barred after 6 yrs...
By JLP
#49840 5 years in Scotland from the last date you acknowledged the debt-who is the DCA chasing you-might be able to help if I have dealt with them before
By mike1y111
#49943 This is where i find it confusing. I had left this with a lawyer to deal with. I gave him details of all outstanding debt and asked him to sequestrate me. He couldnt do this a would have to have had a charge served, which didnt come for the 2months i was in contact with the lawyer. I then moved away and never contacted the lawyer. I have recently checked if i was sequestrated but this never happened. now i left everything with the lawyer in august 2001 but i never contacted any of the companies from propable may 2001.

I am confused as to if the five years would be may 2001 or the last day the lawyer was in contact with them?

Many thanks
By JLP
#50052
mike1y111 wrote:This is where i find it confusing. I had left this with a lawyer to deal with. I gave him details of all outstanding debt and asked him to sequestrate me. He couldnt do this a would have to have had a charge served, which didnt come for the 2months i was in contact with the lawyer. I then moved away and never contacted the lawyer. I have recently checked if i was sequestrated but this never happened. now i left everything with the lawyer in august 2001 but i never contacted any of the companies from propable may 2001.

I am confused as to if the five years would be may 2001 or the last day the lawyer was in contact with them?

Many thanks


It would be 5 years from the last date you or a third party acting on your behalf (eg your lawyer) last wrote to them acknowledging the debt.