Article by Neil Greenhill
5th April 2016
Statute Barred Debt - How It Works And How It Affects Your Credit Report
A Statute Barred debt is effectively a debt where the time a creditor has to chase a debt has passed, protecting the debtor against further court action. Contrary to popular belief, though a statute barred status will prevent further legal action, it does not mean that your debt is written off.
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