There may be a time limit but I doubt it. If it's a genuine payment you should have made and missed I'd assume they are in a good position to chase it up after 4 years.

If you should have made the payment and can do so now, I'd recommend you pay it off ASAP, there's no point in delaying this and risking it blemishing your credit history (which may have longer term implications) for £195.

Jay

I am currently in the fourth year of a part-time Psychotherapy course and have been contacted by my institute regarding underpayments. I have been underpaying them by £20 per month this academic year due to a fault on my part with the standing order - this I have no problem with repaying. However, they are also claiming that I missed a payment of £195 from September 2005!

Whilst this may well be the case (I don't usually check to make sure that the payment has been made!) is there any time limit on when they can collect payments from?