How long before debt written off

Discussion in 'Personal Insolvency, bankruptcy, etc' started by zxcvbnm, Jan 10, 2017.

  1. zxcvbnm

    zxcvbnm Frequent Poster

    Last edited: Jan 11, 2017
    I have an unsecured debt with the back. (It was a write down from residual debt leftover after selling investment properties)

    But now I can't pay the write down either. And the bank ain't for budging.

    My understanding is they can no longer legally come after me after 6 years? Is this correct?

    If so, from when does the clock start?

    I sold the properties about 2 years ago. But agreed on the writedown amount a year ago - but reneged due to losing job. Does that mean in 5 years I'm in the clear assuming they don't try to make me bankrupt?
    Does th clock start 2 years ago or one year ago?

    Did I read someplace that the clock starts over to 6 years again if I in anyway make contact with the back or respond to any of the queries during the 6 year period?

    Or are there any other intricacies I should know about on this law?

    As it stands the bank have not lodged a judgement against me.
    Does the 6 year rule be one redundant if they do lodge a judgement against me? Or is it applicable regardless?
    Last edited: Jan 11, 2017