do statute barred debts ever come off credit files

[Spent2much]

if this is the wrong place for this question then sorry, i was not sure where to ask , but knowing me this has already been answered a million times already

[The Tech Clerk]

Re: do statute barred debts ever come off credit files

after 6 years england or 5 years scotland, notice descrimination by the government?

oopsss - sorry. 6 years alround.

[Riz]

Re: do statute barred debts ever come off credit files

They are removed 6 years after the default is placed on your credit file, in BOTH England and Scotland.

[Never-In-Doubt]

Re: do statute barred debts ever come off credit files

after 6 years england or 5 years scotland, notice descrimination by the government?

That's SB mate. Default removal is 6yrs as Rizzle said. Period.

[Spent2much]

Re: do statute barred debts ever come off credit files

thanks guys , another five years 1 month then

[Spent2much]

Re: do statute barred debts ever come off credit files

i have been here nearly 1 year already on the 1st July, is it likely that all our debts have been defaulted as they have been passed from one dca to another apart from cap one .

If so then we have five years for them to fall off the credit file ?

Just asking this because we would like to plan for the future which involves us selling this house and buying a smaller if house but we might have to build our credit rating up once again if that is ever possible because we will need a mortgage even if its a small one to buy another house .

[SA Gold]

Re: do statute barred debts ever come off credit files

i have been here nearly 1 year already on the 1st July, is it likely that all our debts have been defaulted as they have been passed from one dca to another apart from cap one .

You should have received a default notice from the creditor mate. If not, most (although not all!) will default within a few months. With me, i think Barclays defaulted at 3 months and Sainsburys 6 months.

If so then we have five years for them to fall off the credit file ?

I think you are getting SB (for Scotland) and the CRA reports mixed up mate.
Experian etc re-churn their data every six years.

Just asking this because we would like to plan for the future which involves us selling this house and buying a smaller if house but we might have to build our credit rating up once again if that is ever possible because we will need a mortgage even if its a small one to buy another house .

Yeah, know that feeling. Six years clear for a mortgage mate.

[Riz]

Re: do statute barred debts ever come off credit files

i have been here nearly 1 year already on the 1st July, is it likely that all our debts have been defaulted as they have been passed from one dca to another apart from cap one .

Should have been in theory, especially for those passed to DCAs, but only way to know for sure is to check your credit files. Are you avoiding doing that?

[SXGuy]

Re: do statute barred debts ever come off credit files

Not always im afraid.

two NatWest accounts for me, are still live even though no payment has been made for 18 months, no default notices received ever.

Barclaycard sold one account to IDR who recently sent a default, again hadn't paid for 18 months.

Only way to really be sure is to check what you have received. You could check your credit report, but most will advise against that as it can wake up DCA's.

[Spent2much]

Re: do statute barred debts ever come off credit files

Should have been in theory, especially for those passed to DCAs, but only way to know for sure is to check your credit files. Are you avoiding doing that?

kind of yes because we don't want to rock the boat right now , but it doesn't look good for getting a mortgage by the sound of it , its just we don't have anything in place to repay this mortgage at the end of the term, we don't fancy being 72 and having to move out so need to think of something soon.
It's a long way off yet i am only 48 hubby 50 but i like to look into things and plan things .

We can't put it back on repayment yet as we still owe arrears .

[Spent2much]

Re: do statute barred debts ever come off credit files

You should have received a default notice from the creditor mate. If not, most (although not all!) will default within a few months. With me, i think Barclays defaulted at 3 months and Sainsburys 6 months.



I think you are getting SB (for Scotland) and the CRA reports mixed up mate.
Experian etc re-churn their data every six years.



Yeah, know that feeling. Six years clear for a mortgage mate.

so six years until SB and another six years before getting another mortgage ?

[Riz]

Re: do statute barred debts ever come off credit files

If creditors do what they arguably should, then defaults should clear not that much later than the debts become statute barred at the latest.

But of course sometimes creditors take the pee with defaults, applying them late, not applying them at all, DCAs adding later duplicate ones etc.

Until you have reached a stage where you are prepared or able to check your credit files to see what has been applied and when, your question is almost impossible to answer.

[Spent2much]

Re: do statute barred debts ever come off credit files

If creditors do what they arguably should, then defaults should clear not that much later than the debts become statute barred at the latest.

But of course sometimes creditors take the pee with defaults, applying them late, not applying them at all, DCAs adding later duplicate ones etc.

Until you have reached a stage where you are prepared or able to check your credit files to see what has been applied and when, your question is almost impossible to answer.

yeah i know what you mean, i wouldn't have any problem checking my file but is it worth the risk right now when i can't do anything other than wait for the debts to become SB which is another 5 years away, it's just i hate sitting on an interest only mortgage this house will never be ours but then we can't put it on repayment because of the arrears also .

[tastyjane]

Re: do statute barred debts ever come off credit files

Can I ask a quick question, I understand your defaults drop off after 6 years but does the amount of debt stay there so effecting lending ratios?

Jane x

[Riz]

Re: do statute barred debts ever come off credit files

Can I ask a quick question, I understand your defaults drop off after 6 years but does the amount of debt stay there so effecting lending ratios?

Jane x

If the account has been record as a default on your credit report, then everything about it comes off 6 years after the default date. The amounts, total credit available/oustanding.... everything. A prospective lender searching your report should not see any evidence the debt existed.