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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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A bank has chased me for a large amount of money, that they

Resolved Question:

A bank has chased me for a large amount of money, that they say I still owe them, after selling the property, I had a bank loan on. and charging me £10,000. legal fees ,I have disputed that I owe the balance they are claiming, and running interest up every day .I have asked them to take me to court, so I can have my side heard, but after over 6years 3months, they still don't take me to court, and now over 1 year since there last debt letter sent to me i,m 65 years of age and living on pension credit, and receiving housing and council tax benefit.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

For now please let me know whether it has been more than 6 years since you made the last payment on this loan?

Customer:

In answer to your question, i have never personally made any payment to the bank to reduce the loan, for over 6 years 3 months, the bank used a firm of insolvency practitioners or receivers to take over property,and sell it, taking £10,000. fees from the sale,and the balance was used to reduce the loan, by approx £70,000. leaving approx £52,000 still to pay, plus accruing interest on a daily basis. i had no control over that sale or payment, to the bank or receivers.that was about jan 2012, but the original demand was july 2008 for £121,000.i never acknowledged that debt balance, before or after the sale to reduce the loan.I had no say at all in the matter.

Alex Watts :

Ok - so you have never acknowledged the debt for over 6 years?

Customer:

there is a delay in your reply, i assumed there was a problem in relaying my message to you, as the reply box, would not accept my typing, but now it appears to be working,

Alex Watts :

ok

Customer:

Yes correct i never acknowledged the debt in written form, or verbally for over 6yrs and 3 months.

Alex Watts :

Ok - if that is the case then it should be statue barred now as per the Limitation Act 1980

Alex Watts :

You should write and say its been 6 years and now time barred.

Alex Watts :

If you have never acknowledged or paid the debt then by law it can not be issued through the Courts

Alex Watts :

They can still chase it but you can say no

Alex Watts :

But they can't issue proceedings because of the Limitation Act

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

i was told as they have not chased me now for over 1 year, i should let sleeping dogs lay, so to coin a phrase, but i am positive of my dates, time, and facts. and was aware of the statute barred time period,i just want peace of mind.

Alex Watts :

I see. If they have not chased it, I agree I would leave it

Alex Watts :

Why urge them into doing something!

Alex Watts :

But you will be pleased to know if and when then they will be statue barred

Alex Watts :

Does that help?

Customer:

ok thats what my friend of a legal mind told me, i just needed a second opinion.Thank you so much Alex.

Alex Watts :

Can I clarify anything else for you today please?

Customer:

I have one more problem, can i explain on another issue, not the one we have discussed.

Alex Watts :

If I could invite you to rate this answer and then post another one. (Site rules)

Customer:

ok thanks no problem.

Alex Watts :

Can I clarify anything else for you, related to this question?

Customer:

i,ve rated it Excellent service.

Alex Watts :

Thank you. If I could invite you to rate and click one of the faces at the bottom of the screen

Alex Watts :

If you want to ask me a further question please post it FOR ALEX W

Alex Watts :

I can then help

Alex Watts :

If you need more help please click reply

Customer:

ok done, once again thanks. Tom.

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