They can get a judgment against you and ask the court for an instalment order and the court will tell you to pay x€ per month until it is cleared.
If you have a mortgage, presumably you have a house?
They can register the judgment against the house. If the house is in negative equity, it won't have much practical effect.
It's odd that they have done nothing. The car loan company has not forgotten about it, but the credit card company may have.
I believe there is a limitation period of 6 years,after which they can't seek a judgement.Does the fact that there was correspondence within the 6 years "reset the clock"?
I believe there is a limitation period of 6 years,after which they can't seek a judgement.Does the fact that there was correspondence within the 6 years "reset the clock"?
I must have misunderstood you as it is clear that if you had already paid half the loan by 2006 then you could have easily paid off the other half by selling the two-year old car.
Yes, I believe it does get reset to the run from the last interaction - in this case last year. That is unless they changed the law since I was dealing with this kind of stuff.
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