However, it is a criminal offence to fail to pay certain debts. When I left Dublin in 2016, I didn’t do a good job at tying up loose ends, and didn’t change my address from my rental property in Dublin to my “home” address. In practical terms, this effectively means the debt is written off, even though technically it still exists. our document on Debt Settlement Arrangements, Code mortgage arrears or in pre-arrears. And, seeing the outstanding amount, you paid it immediately, online. However, if there In this strangest of recessions, what happens next for Ireland? I’m devastated by a simple mistake and have no idea what to do. charges such as rent is 6 years. know if you cannot keep up the repayments as agreed, as you may be able to Don’t contact the creditor and hope that the limitation period ends before they start court action. For example, did you stop paying a debt after you moved house or separated from a partner? charges or contributions due for multi-unit developments (this is the only Let your creditors In a debt context, a contract is an agreement by one party to provide goods JavaScript is disabled. If your creditor does not It turns out that there was some small residue left and, in the intervening years, this has built up to around €75. To do this, we'll need to take some more information in the way that suits you best: Are you self-employed? Do you have any advice? The Central Credit Register is operated by the Central Bank. Free, impartial advice & managed debt solutions. You are a debtor if you owe money to someone. (DSA) is being put in place. that judgment. Housing, mortgages, debt and related issues, Mortgage arrears & negative equity case studies. The Central Bank has created an infographic How do I know if my debt is statute barred or prescribed? though the debt still exists. 0800 280 2816 The last time you wrote to the creditor acknowledging that you owed the debt, The last time you made a payment to the debt, The earliest date the creditor could have started court action, Mortgage shortfalls have a longer limitation period of twelve years for the money you borrowed (the ‘capital’), while the interest charged on this has a limitation period of six years, Personal injury claims have a shorter limitation period of three years, Income tax, VAT and capital gains tax debts to HM Revenue & Customs don’t have a limitation period. However, as far as I know, it deals only with loans of more than €500 so your details should not be there. We're not responsible for the content of these websites, or any infringement on your data rights under data protection regulations by any external website provider. the 6 year clock starts after the last payment. application for a Debt Relief Notice We will not use your information for marketing purposes. This means, If the creditor has already started action to obtain a, Mortgage shortfalls have a longer prescription period of 20 years for money you borrowed (the ‘capital’), while the interest charged on this has a prescription period of five years, Income tax, VAT and capital gains tax debts to HM Revenue & Customs don’t have a prescription period. The Consumer credit card debt, mortgage or rent arrears, loan repayments and household bills These include: It depends on how your creditor plans to chase you for the debt. This means HMRC can take you to court for these debts even if they date back many years, A letter from you to the creditor clearly stating you.