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-   -   Would a bank debt be wiped after 10 yrs? (https://www.askmehelpdesk.com/showthread.php?t=635367)

  • Feb 12, 2012, 09:34 AM
    NadiaAppleton
    Would a bank debt be wiped after 10 yrs?
    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.
  • Feb 12, 2012, 09:41 AM
    ScottGem
    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.
  • Feb 15, 2012, 02:45 PM
    NadiaAppleton
    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.
  • Feb 15, 2012, 02:53 PM
    ScottGem
    He can try. But eventually they will probably catch up with him.
  • Feb 15, 2012, 02:55 PM
    Curlyben
    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.

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