Understanding Debt Repayment: Can You Be Chased for Debt After 20 Years in the UK?

Learn about debt statute limitations in the UK and whether you can still be pursued for debts after 20 years.

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In the UK, most debts become statute-barred after six years if no court judgment has been made and no acknowledgment of the debt has occurred. For mortgage shortfalls, this period extends to 12 years. After 20 years, it is highly unlikely you can be legally chased for the debt unless exceptional circumstances apply. Always seek legal advice for your specific situation.

FAQs & Answers

  1. What happens to debts after 6 years in the UK? In the UK, most debts become statute-barred after six years if there's no court judgment or acknowledgment of the debt.
  2. Are there exceptions to the 20-year debt chase rule? Yes, there may be exceptional circumstances where a creditor could pursue you beyond 20 years, so it's advisable to seek legal consultation.
  3. What should I do if I am contacted about an old debt? You should verify the debt and seek legal advice to understand your rights regarding the statute of limitations.
  4. Can mortgage shortfall debts extend beyond the typical limitation periods? Yes, mortgage shortfalls can have a longer limitation period of up to 12 years in the UK.

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