SB Question

[SaltnVinegar]

Re: SB Question

Hi Fred

As a Bassett you should be thinking of letting old dogs lie

If you've got to the Nirvana of having all your debts SB then rather than focusing on what you may be able to reclaim personally I'd be considering the balances that you have got to SB which I'd suggest are going to be a fair bit more than what you may be able to claim on PPI.

Just me - but I'd not be poking a stick back into the hornets nest. You've got to a position that most AAD'ers cannot wait for and I'd go now and enjoy life even more knowing that theres nothing they can do to interfere with your life again.

And congratulations BTW on reaching the SB finish line!!

Best
SnV

[SA Gold]

Re: SB Question

Hi Fred

As a Bassett you should be thinking of letting old dogs lie

[Fred Bassett]

Re: SB Question

Hi Fred

As a Bassett you should be thinking of letting old dogs lie

If you've got to the Nirvana of having all your debts SB then rather than focusing on what you may be able to reclaim personally I'd be considering the balances that you have got to SB which I'd suggest are going to be a fair bit more than what you may be able to claim on PPI.

Just me - but I'd not be poking a stick back into the hornets nest. You've got to a position that most AAD'ers cannot wait for and I'd go now and enjoy life even more knowing that theres nothing they can do to interfere with your life again.

And congratulations BTW on reaching the SB finish line!!

Best
SnV

Thanks. I'm not quite there yet, but Halifax/1st Credit, Lloyds/1st Credit and BoS Preference account all seem to have given up and MBNA/Arrow Global have admitted they have no agreement. So come the 1st January I reckon I'll be in the clear apart from any bottom feeders that come chancing their arm.

[vint1954]

Re: SB Question

Thanks Vint. It looks as if by January 1st I will be able to breathe easily and that all makes sense. I can see on my credit file that the one account still remaining on there shows a decrease in the amount I owed in December 2007, that in January 2008 the amount was the same and from there onwards it went up as they added interest.

Regards.

Fred

Looks good Fred

[Fred Bassett]

Re: SB Question

Now then, as far as I am concerned, all of my accounts are now statute barred. All of them have been removed from my credit report with the exception of the Arrow Global. Now here's the snag - MBNA defaulted the account in August 2008 and the note on my credit file states that this will be removed from the account it August 2014. I've now written to the CRAs stating that I have not made a payment on the account nor acknowledged it for 6 years and that they should now remove this entry, but I'm a bit worried about this "default" entry (ironically, I'm pretty sure it was an invalid DN as well).

Up until now, I've been quite happy for Arrow Global to think that they still had 8 months in which to try and get me to cough up, but I don't care now - I just want this removed from my credit report as it's the only sticking point.

[PlanB]

Re: SB Question

MBNA defaulted the account in August 2008 and the note on my credit file states that this will be removed from the account it August 2014. I've now written to the CRAs stating that I have not made a payment on the account nor acknowledged it for 6 years and that they should now remove this entry, but I'm a bit worried about this "default" entry (ironically, I'm pretty sure it was an invalid DN as well).

Up until now, I've been quite happy for Arrow Global to think that they still had 8 months in which to try and get me to cough up, but I don't care now - I just want this removed from my credit report as it's the only sticking point.

Why do you want the Default removed from your credit file and what's the "sticking point" or what's the hurry? Are you planning to apply for credit in the next eight months? Are you 100% certain that this debt is SB? Do you really want the anguish of going to court to prove you're right (if you're right)?

A Default remains on your credit file for six years from the day it was registered. This has nothing to do with whether it's SB or not so I doubt you'll get a positive response from the CRAs. But you may get a letter from Arrow since the CRAs will probably refer your query to them.

[Fred Bassett]

Re: SB Question

I'm starting a new job soon in which I will have to travel abroad occasionally. I will need a company credit card when that happens and at the moment I won't get one because of this. It will make life a little awkward for me. It's not just that, but I'm pretty sure I can get a better mortgage deal than the one I've got, but that too will need me to have a clean credit record. I'm certainly not looking to get credit.

Does this mean then that the account itself will remain on my credit record? I thought that once it became statute barred it would have to be removed. I am 100% certain that this is now Statute barred.

Regards.

Fred

[Riz]

Re: SB Question

There is nothing in law that says a default for a statute barred debt must be removed. The legal status of the debt under limitation is completely separate from registration of defaults with the CRAs.

A large number or even majority of SB debts do not appear on credit reports purely due to timing. i.e. in most cases a default will have been registered around the start time of the limitation period, so they tend to be dropping off somewhere around the end of that..

However in some cases a default won't be registered until many months after the last acknowledgement/payment or accrual of cause of action, so that there will be a corresponding lag of many months after the debt becomes statute barred before defaults drop off.

[Fred Bassett]

Re: SB Question

Thanks Riz. This is the bit that I don't understand. It appears as if the default can appear, but not the account. Is my understanding of this correct?

[Fred Bassett]

Re: SB Question

One other thing - would it make a difference if the default notice was faulty to start with?. I don't have it to hand, but I'm pretty certain that this was the case.

[Never-In-Doubt]

Re: SB Question

No forget the default mate. One solitary 5yr default will not stop you getting credit. You'll be fine.

Forget et about it now and move on. The dodgy default stops them enforcing the debt at court. That's all. The CRA is a recording tool only (used by lenders).

[Spent2much]

Re: SB Question

Niddy, can creditors /dca keep defaulting accounts say yearly or is it only once they can default ?

[cymruambyth]

Re: SB Question

They can issue as many default notices as they want, but the actual default can only be issued once.

[Fred Bassett]

Re: SB Question

No forget the default mate. One solitary 5yr default will not stop you getting credit. You'll be fine.

Forget et about it now and move on. The dodgy default stops them enforcing the debt at court. That's all. The CRA is a recording tool only (used by lenders).

Thanks Niddy. Problem is, my credit score is not good because of this one entry and I'd really like to get rid of it. Looks like I will have to wait until August. Not the end of the world, but a bit of a nuisance.

At least I know now that all of my outstanding accounts are statute barred. Most of them haven't appeared on my credit record for ages. I've no doubt that somewhen soon I will be plagued by some scumbags who have bought these accounts, but I'll worry about that when it happens.

Regards.

Fred

[Never-In-Doubt]

Re: SB Question

No mate that default won't affect your score. Trust me.