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.