How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jo C. Your Own Question
Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70299
Experience:  Over 5 years in practice
12826847
Type Your Law Question Here...
Jo C. is online now

i had a loan in 2002 for my ex wife business, however a year

Customer Question

i had a loan in 2002 for my ex wife business, however a year later we go divorced and she made an amicable arrangement with me to pay back the loan, I have had a letter for Arrow Global who is saying that I still owe the money,the original loan was taken out with Nation wide, I have been to speak to them who tell me the last payment to them was in August 2008, and that they sold the debt to Arrow Global, I then spoke to Arrow global who told me infront of the Nationwide bank manager that they only got the loan in September 2014 and a payment was made in 2010 which is total lies, as far as I am aware no payment has been made to them since 2008 and I have had no correspondence from anyone suggesting other wise, can I go for statutory barred.
Submitted: 2 years ago.
Category: Law
Expert:  Jo C. replied 2 years ago.
Hi.
Thank you for your question. My name is ***** ***** I will try to help with this.
What is the sum of the loan?
Customer: replied 2 years ago.

£28770

Customer: replied 2 years ago.

£28770.00

Expert:  Jo C. replied 2 years ago.
Thank you.
The short answer is that it depends whether or not court accepts that the last date of acknowledgement was August 2008.
If it was then they are outside of the six-year period that they have to sue under the Limitation Act.
If they are able to convince a court that the payment was made in 2010 then they are within the period.
They could, of course, also apply for limitation to be extended under section 32 of the Limitation Act 1980 but they need a really good reason to do so and the fact that they have only just taken over will not be sufficient.
Can I clarify anything for you?
Jo
Customer: replied 2 years ago.

yes how can I get statutory barred put into place.

Expert:  Jo C. replied 2 years ago.
You cannot stop them issuing.
You just defend an action that they bring on the basis that they are out of time.
They will probably still phone and write and they may sue.