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    sassie's Avatar
    sassie Posts: 5, Reputation: 1
    New Member
    		  
    #1

    Aug 26, 2006, 08:22 AM
    Agency purchased old debt
    I have received a letter today from a company stating that they have bought a debt from a leading high street bank. The debt is approximately 7yrs old, I have had no correspondence in this time regarding this debt, the company are stating that the outstanding balance is £767.27 the original debt was around £28 which occurred from an overdraft, this account was closed in 1999, so has you can appreciate this has come out of the blue.
    If possible I would like to now how I stand regarding this has I am now on incapacity benefit.
    Many thanks
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Aug 26, 2006, 12:37 PM
    The Statue of Limitations might have expired.

    You need to look into the SOL in the area that you live.
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