What’s the statute of limitations on pay day loans

Business collection agencies – Old Debts

Do i need to pay a debt that is old? If your financial obligation collector has expected one to pay a financial obligation this is certainly a lot more than six years old (or 36 months when you look at the north Territory) it is crucial to learn your legal rights.


You might not need to pay a classic financial obligation if you made your last payment a lot more than 6 years back (or three years ago within the north Territory). This is certainly known as a statute banned financial obligation. In case a financial obligation is statute banned this means you have got a defence if somebody commences appropriate action against one to recover your debt.

What you should do in the event that you owe your debt

Could be the financial obligation statute banned?

  • You’ve got perhaps not produced re payment
  • You have got not recognized your debt on paper
  • No court judgment happens to be entered against your

Various rules make an application for debt guaranteed by a home loan over genuine home (for instance, mortgage). Ring us if you’re being financial obligation gathered for an mortgage debt that is old.

Table of limitation durations by State or Territory

State/Territory Limitation period
Australian Capital Territory 6 years
New Southern Wales 6 years
north Territory 36 months
Queensland 6 years
South Australia 6 years
Tasmania 6 years
Victoria 6 years
Western Australia 6 years

How can you verify that there was a court judgment?

What direction to go if your debt collector states you need to spend an old financial obligation

If you believe it might be much more than 6 years (or three years for Northern Territory) because you past made a payment or acknowledged the debt on paper then:

  • Usually do not produce payment
  • Usually do not agree you borrowed from your debt (relate to the financial obligation once the “alleged” financial obligation)
  • Do ask your debt collector to produce copies associated with the contract plus the account statements
  • Do ask your debt collector if they will have a court judgment. When they do require details court that is including, date obtained, which court plus the number of the judgment. Seek the advice of the Court that the judgment happens to be obtained.
  • Do keep notes of all of the phone conversations and any letters/emails sent or received.
  • Get advice by calling us on 1800 007 007.

Simple tips to request documents

A right is had by you to request copies of this documents that your debt collector is counting on to show your debt a financial obligation.

You can make use of this page template to request documents to help you verify that your debt may be statute barred.

With respect to the financial obligation being advertised you may want to request other papers. Give us a call on 1800 007 007 in the event that you need help with this particular.

Let’s say in my opinion your debt is statute banned as well as the debt collector will not concur?

Your debt collector should explain why it doesn’t agree your debt is statute barred. Ring us to obtain some advice as to whether or not the financial obligation may be statute barred.

It’s possible to have your choice associated with the debt collector reviewed through outside dispute quality more often than not. This can be done free of charge if the financial obligation collector is an associate of an External Dispute Resolution Scheme (EDR).

In the event that financial obligation collector does agree your debt is statute banned

Be sure you’ve got it on paper through the financial obligation collector. In writing put it in writing to the debt collector if you do not have it. State “I concur that you have got agreed the so-called financial obligation is statute barred. ”

Imagine if your debt collector is threatening appropriate action or has commenced action that is legal?

  1. Lodge a dispute in a dispute quality scheme (in the event that financial obligation collector is just user). The dispute quality scheme will decide the dispute then; or
  2. Contact us to have a recommendation for legal counsel to find help lodge a defence in court (in the event that financial obligation collector just isn’t a known person in a dispute resolution scheme).

Just exactly What do i actually do if your debt collector features a court judgment?

Table of limitation durations by State or Territory

State/Territory Limitation duration for court judgments Capital that is australian Territory years
New South Wales 12 years
north Territory 12 years
Queensland 12 years
Southern Australia fifteen years
Tasmania 12 years
Victoria fifteen years
Western Australia 12 years

You might feel overrun, you have choices and you will find actions you can take yourself. But you need a bit more guidance or need help quickly, simply call us if you feel.