Republic of Ireland Law
Republic of Ireland Law Questions Answered by Experts
1. The statutory time limit on a debt is six years. Accordingly, whilst the lastl etter by you to the bank is just under six years ago (December 2007), provided you have now acknowledged the debt within the last six years, then the debt is statute barred. An acknowledgement is some form of letter which states "I owe the debt". An acknowledgement is more than just writing to the bank. There must be some form of acknowledgement that you owe the debt. So I would advise you to look closely at the letters you wrote between July 2007 & December 2007 and ascertain if any of them involved an acknowledgement of the debt or whether they were mere form letters. If none of the letters included an acknowledgement of debt, then the debt is statute barred and you don't have to pay it.
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Dear Sir - many thanks for your prompt response. I have just checked all paperwork dated within the period of July 2007 and December 2007 and can find no acknowledgement of the debt owing or offer of settlement. Around this time I employed the services of a solicitor who wrote to the bank on my behalf outlining the situation, but the bank never replied to him.
2. Well, that is great. The debt is then statute barred. Best of Luck!