Statute barred?

[lloydjones]

I have a Cahoot account, I last made a payment on 1st January 2009. The last piece of correspondence I wrote to them was dated the 24th March 2009. The letter started "I do not acknowledge any debt to your company", it was a CCA s77/78 request letter. Can someone please clarify when this debt becomes statute barred please? Thanks

[cymruambyth]

Re: Statute barred?

It is 6 years (and usually 1 month) from the date of the last payment.

[Undercover Elsa]

Re: Statute barred?

Was that a contractual (ie your usual due) payment, or had you already defaulted and making random payments?

[lloydjones]

Re: Statute barred?

Was that a contractual (ie your usual due) payment, or had you already defaulted and making random payments?

That was the last contractual payment, it was then defaulted in August 2009. I have not paid them a penny since the last contractual payment in January 2009.

[Never-In-Doubt]

Re: Statute barred?

February - next month it'll be SB

[Undercover Elsa]

Re: Statute barred?

Yep! Yay!

[lloydjones]

Re: Statute barred?

February - next month it'll be SB

Even though I've corresponded with them?

What happens with it on my credit file? Does the creditor remove it?

Thanks

[Undercover Elsa]

Re: Statute barred?

The CCA letter you described doesn't sound like an acknowledgement

The default on your credit file will automatically drop off at the next update from 6 years when it was placed. What date was that?

[Never-In-Doubt]

Re: Statute barred?

Even though I've corresponded with them?

What happens with it on my credit file? Does the creditor remove it?

Thanks

You haven't acknowledged it - so don't worry - your credit file is totally separate, what is the Default Date that reads on there? If it's later than next month then add 6 years from the actual date showing on your CRA file.

[lloydjones]

Re: Statute barred?

The CCA letter you described doesn't sound like an acknowledgement

The default on your credit file will automatically drop off at the next update from 6 years when it was placed. What date was that?

Default date is August 2009.

- - - Updated - - -

You haven't acknowledged it - so don't worry - your credit file is totally separate, what is the Default Date that reads on there? If it's later than next month then add 6 years from the actual date showing on your CRA file.

Default date on file is August 2009. Is it statute barred in September 2015 therefore or is it still SB'd from Feb?

[Undercover Elsa]

Re: Statute barred?

It's from the day after your first missed payment in your case. Hence if payment was due on 25th Feb, the clock started on 26th.
The default date on your credit file is nothing to do with the Statute of Limitations.

[Deepie]

Re: Statute barred?

It's from the day after your first missed payment in your case. Hence if payment was due on 25th Feb, the clock started on 26th.
The default date on your credit file is nothing to do with the Statute of Limitations.

Yep ....some of mine are now SB ....Nov 2014 ....defaults should drop off April this year ....

Not a big deal in the grand scheme of things ............

I've waited 6 years .....

[lloydjones]

Re: Statute barred?

The default on your credit file will automatically drop off at the next update from 6 years when it was placed. What date was that?

If the default drops off, what happens to the agreement on the file if there is still money owing? For instance if it was a different account where SB wasn't applicable?

[nightwatch]

Re: Statute barred?

all defaults drop off your credit file after 6 years (5 in Scotland) whether they are SB or not, any money owing in SB case is lost,
if it is not SB they can still try to recover the money but they cannot add another default or markers to the credit file

[Undercover Elsa]

Re: Statute barred?

The money is still technically owed until/unless it's also Statute Barred, even after it's stopped showing on your credit file.
It's 6 years in Scotland too for defaults to drop off the credit file, but only 5 for Statute Barred