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  • #1

    Can someone clarify......

    My credit rating is trashed, so I don't pay too much attention to it at all but I do check Noddle every now and again when I want a laugh!

    First question is - my debts have default date of 2009 lowell own majority of them now and continue to default me on them every month as they do not receive a payment. I take it these records will drop of my account in 5 years from the official default date and not when they last updated it monthly?

    Second question - Lowell own my HBOS O/D account and have done since 06/13, they have their own record about this. HBOS still have their originally record as open as well, and they very kindly keep it up to date every month still defaulting me. So basically I have 2 records for the same debt, both still active.

    Third question - How long after a debt is statute barred will it drop off, I have a very small debt that is definitely statute barred and has been for 5 months but Lowell still update the account monthly.

    I'm in no position at the moment to start cleaning up my credit report and not concerned about it at all, I also don't want to contact CRA to point out an error incase that is seen as an acknowledgment. I was just wondering if that is correct what they are doing.

    Sorry for my ramblings I was up way to early this morning and my mind was wandering......
    Tags: account, cais, con, cra, credit, credit rating, date, debts, default, defaults, england, hbos, issues, land, law, lowell, monthly, o/d, pay, questions, scotland, size, small, statute, statute barred, updates
  • #2
    Re: Can someone clarify......

    Originally posted by Loopyloo View Post
    First question is - my debts have default date of 2009 lowell own majority of them now and continue to default me on them every month as they do not receive a payment. I take it these records will drop of my account in 5 years from the official default date and not when they last updated it monthly?
    They are not new defaults, but just status updates on the original one. The whole account will still drop off your report 6 years from the original default date.

    Originally posted by Loopyloo View Post
    Second question - Lowell own my HBOS O/D account and have done since 06/13, they have their own record about this. HBOS still have their originally record as open as well, and they very kindly keep it up to date every month still defaulting me. So basically I have 2 records for the same debt, both still active.
    In theory I think only one of those should remain active. In fact, in many cases you shouldn't have 2 entries for the same debt. The original one should be removed if the debt collector is to record their own. An exception to that is where the original is marked as "debts assigned to CAIS member" or a similar marker, in which case it's not really 2 defaults on your report, but the same one with an assignment record.

    Originally posted by Loopyloo View Post
    Third question - How long after a debt is statute barred will it drop off, I have a very small debt that is definitely statute barred and has been for 5 months but Lowell still update the account monthly.
    6 years from the default date. Always.

    Originally posted by Loopyloo View Post
    I'm in no position at the moment to start cleaning up my credit report and not concerned about it at all, I also don't want to contact CRA to point out an error incase that is seen as an acknowledgment. I was just wondering if that is correct what they are doing.
    From what you say time will sort the issues anyway if you just wait for the entries to drop off.
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: Can someone clarify......

      Oh, and it is 6 years for defaults to drop off in Scotland while being 5 years for debts to be statute barred. In England they are both the same, but slighltly diffrent law in Scotland means there is that odd mismatch between the 2 periods.
      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

      Comment

      • #4
        Re: Can someone clarify......

        Thanks for confirming that Riz. I'm still relatively new to all this, so I still lack the confidence on my own thoughts and decisions. But that will come when I build up my knowledge I guess, it's great that I can post my random thoughts and questions on here and get a proper answer

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        • #5
          Re: Can someone clarify......

          Originally posted by Riz View Post
          Oh, and it is 6 years for defaults to drop off in Scotland while being 5 years for debts to be statute barred. In England they are both the same, but slighltly diffrent law in Scotland means there is that odd mismatch between the 2 periods.
          Oh well, I can wait another year!

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