Statute barred?

[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.

[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.

[Undercover Elsa]

Re: Statute barred?

Yes

[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?

[nightwatch]

Re: Statute barred?

should be NOTHING xxxx

[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

[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

[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

[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?

[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 .....

[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.

[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?

[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.

[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?

[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