Are debts with you for life or are they written off after an amount of time in the uk

Question

Are debts with you for life or are they written off after an amount of time in the uk

Answer 1

I can't imagine any lender letting you keep a debt for life. It's the lenders call whether a debt is written off or not.

Answer 2

The idea is to keep us in debt to keep the rich, richer than us and to keep our economies as strong as possible. It's just a shame that when housing just about becomes affordable, the government raise interest rates to inflict more hardship upon us to get us to work harder. This also applies more stress and splits up families. Then more crime is produced, which keeps the armies and police ticking over to suppress the poor even more. They have been getting away with it for years.  

Answer 3

they probably sell debt on to agents who then start looking for the person owing the money

they never give up LOL

Answer 4

Yes - no company ever writes debt off, they will just place is on hold whilst they deal with easier/more lucrative debts. If you happen to pass by their radar again, they'll quickly pursue. I think after 5-10 years, it begins to have less of an impact on your credit profile, but it doesn't disappear, unless the company that owns your debt disappears.

Answer 5

I think if they are anything like the Caribbean they are for life.  Actually if you type in debt relief/uk you will find a whole slue of info

Answer 6

of course theyre with u for life, dumbass. the bank is hardly gonna go omg he hasnt paid it off in five years, lets just forget about it. they take your home from you instead, banks dont care

Answer 7

If you had a job and you weren't paid for a month, how long would you go after your employer? If you had $100,000 in the bank and they decided not to honor your deposit, how long would you go after them? How long would it take for YOU to forgive or write off a debt owed to YOU? Answer that and you'll know how long your creditors will be after you or how long it will take them to write off debts.  

Answer 8

No company ever writes debt off completely, they just stop chasing you after a while. They are legally entitle to ask for your money unless you are bankrupt.