View Full Version : Would a bank debt be wiped after 10 yrs?
NadiaAppleton
Feb 12, 2012, 09:34 AM
My partner has a debt of £4000 with lloyds which was 10 yrs ago. I'm told the debt is wiped after 5 or 10 yrs. Can you tell us what we can do please.
ScottGem
Feb 12, 2012, 09:41 AM
I believe UK law is the same as the US in that a debt never expires. What may expire is the right to use the legal system to collect the debt.
NadiaAppleton
Feb 15, 2012, 02:45 PM
My partner borrowed money from a money lender called lloyds money lenders. They hadn't caught up with him for 9 yrs. He doesn't want to pay it. Not much money. Can he ignore the debt.
ScottGem
Feb 15, 2012, 02:53 PM
He can try. But eventually they will probably catch up with him.
Curlyben
Feb 15, 2012, 02:55 PM
If the creditor and show that the debtor has been purposefully avoiding repaying a debt they can enforce payment via a court judgement.
The debt it self never expires, just becomes more difficult to collect after 6 years.