Statute barred?

[lloydjones]

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

So, if I make an agreement to pay a DCA for a defaulted account today, then the default drops off in October what appears on my credit file? Thanks

[nightwatch]

Re: Statute barred?

should be NOTHING xxxx

[lloydjones]

Re: Statute barred?

should be NOTHING xxxx

So once 6 years have passed since the default date that agreement drops off my credit file? Regardless if monies are still owed?

[Undercover Elsa]

Re: Statute barred?

Yes

[panther12]

Re: Statute barred?

So once 6 years have passed since the default date that agreement drops off my credit file? Regardless if monies are still owed?

Yes mate that's right. Once the default drops off after 6 years so does all information regarding that account whether or not you're still paying. If that wasn't the case it would be unfair to those who are still paying off a defaulted account to have the payments and account history still showing and therefore would have a worse credit file than those who haven't paid a penny since default.

[julian]

Re: Statute barred?

Despite what has been said above, there are some DCAs and financial institutions and their hounds that chase even after SB should have been reached and acknowledged. They just try it on and hope you will cave in. If so, they need to be informed that they are out of time and should stop hassling. Do not destroy your paperwork in celebration, as you may need it again.