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    NadiaAppleton's Avatar
    NadiaAppleton Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 12, 2012, 09:34 AM
    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.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    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's Avatar
    NadiaAppleton Posts: 2, Reputation: 1
    New Member
    		  
    #3

    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Feb 15, 2012, 02:53 PM
    He can try. But eventually they will probably catch up with him.
    Curlyben's Avatar
    Curlyben Posts: 18,514, Reputation: 1860
    BossMan
    		  
    #5

    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.
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