Glossary
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- The Limitation Act
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Lenders are legally limited to the amount of time they may pursue a debtor.
The Limitation Act of 1980 set into place different limits for different types of debt. For example, with unsecured debts like personal loans or store and credit card debts, lenders are be barred from taking action if six or more years have passed without either communication between parties, making of payments or the obtaining of a CCJ.However the rules surrounding debt limitation can still be complex, so for more information, please contact us.
