Tony makes many interesting and surely valid points here. The 'six year rule' is only a voluntary code and so the lenders can pretty much tailor it to suit themselves. It didn't take effect till February 11th 2000, and it excluded everyone who had already been 'contacted' - this included anyone to whom a letter had been sent, even if it was to an old address! The six year period was deemed to have started at the point of sale, not at the point of repossession.(posted 8547 days ago)However, some legal opinion holds that the clock starts ticking at the time of first default leading to that repossession, and only ends with court proceedings. But this is untested in court, because Abbey bottle out of a Court of Appeal test case against the Holmans. (See elsewhere on this HRP site.)
The Limitation position is very complicated and probably by no means settled.