Limitations Act..anyone know anything?

[twofishes]

I have a failed IVA from 2000, which involved debt from 1998..I have been in contact over the years with some of the creditors but nothing (touch wood) recently.
Even if they did get in touch my situation is now worse than before we 3 kids and a part time job (assuming DP would not be involved)...The limitations Act comes into force after 7 years doesn't it.. but how does it work?

anyone know the basics have looked on Internet and am getting bogged down in legal speak

The Limitations Act 1980 only applies when no contact has been made between the creditor and debtor within the given time limit and only applies to residents of England and Wales.

The time limit I think is six years and it also depends on the the type of debt, ie unsecured debt, CCJ...however if you agree to pay the debt back then you have to do so.

If a creditor gets in touch after 6 years and there is no prior agreement then you should certainly make them aware that you know your rights under this Act.

Hope this has made sense.....if not let me know....

I have only 'had contact' recently with one 'small' creditor this was when I received an offer letter to pay back the amount at a lower rate etc..I didn't reply , but does this class as contact? (also the letter was forwarded from my old address..

I haven't agreed to pay via an agreement since the IVA failed, all of the debt was unsecured though

Part of me wants to made bankrupt because then I haven't got the shadow hanging over me...

Hi, I think the best thing you can do in the first instance is get an appointment at your local CAB office - they usually have people who deal in this kind of situation and they will be able to give you free impartial advice.