UE - SIX Years On!

[Phoenix]

Re: UE - One year on - now SIX years

I totally agree with Alland and SnV - best strategy is to keep as far off the radar as is possible.

I know some people check their credit reference files, but this is not recommended on here, mainly because it draws the "nasties'" attention to the fact that you are alive and well, and living at that particular address. Difficult to generalise on this one - one of Niddy's mantras is that each case is different and you can't rely on being treated the same way as someone else who has posted on here. Not easy to do nothing - but consider the alternative ....

Unfortunately, there is no sign-post saying "Statute Barred", when you do finally reach your ultimate goal!

[SaltnVinegar]

Re: UE - One year on - now SIX years

Hi
So assuming DN has gone ie 6 years and 6 years 1 month and a day has gone since last payment we can send SB letter to the pests?
Helmsman.

Personally I wouldn't send them anything proactively once the SB clock has been reached. You don't want to alert them to that fact (just incase it is not), and they issue a speculative claim you have to defend.

Best to sit there smug in the knowledge that any threats you get would be empty, and then if things get heavy you could then use the SB letter. Even then its not always advised as an immediate court claim can follow (which you would then beat!).

[lookingforward]

Re: UE - One year on - now SIX years

Just checked through lots of paperwork and apart from 2 that I can't find, all the others had DN's issued in 2005 so should be safe

[Never-In-Doubt]

Re: UE - One year on - now SIX years

Just checked through lots of paperwork and apart from 2 that I can't find, all the others had DN's issued in 2005 so should be safe

so long as you didn't pay / in DMP - yes, should be fine

[Never-In-Doubt]

Re: UE - One year on - now SIX years

So is there a definitive answer on when the SB kicks in for certain.

no. No lender dare push it that far; clearly.....

But where we used to go by the last payment plus 73 months, we now suggest give it a few months for default allowance then add 6 years. So although it should be 6 years from date of last payment, they try arguing it's 6 years from default. We then argue back ok, the ICO say a DN should be issued within 6-9 months so assume you last paid in Jan 2000 but weren't defaulted until July 2000 (acceptable as within 6-9 months) then the CoA (cause of action) *could* be argued as July 2000 so add +6yrs to this to be home & dry. Likewise, if you were defaulted earlier than 6 months since last payment / acknowledgment.

The legal argument (that we are fighting) is, if a lender doesn't create a CoA (default you) for several years - then what? Surely if that is allowed then just before SB a lender can issue a new DN correcting an old one, knowing full well it resets the clock as a new CoA.

Thats where we're at. No definitive answer as yet but we do ask you to apply common sense so if you know your default date, add 6 years to that unless you were defaulted in breach of guidelines (ie after 6-9 months) in which case things will be slightly different.

Its no longer acceptable to assume it's SB +6yrs plus a month & a day since YOU created the CoA. Allegedly the creditor can create a CoA with the DN.

Make sense?

[Never-In-Doubt]

Re: UE - One year on - now SIX years

Hi
So assuming DN has gone ie 6 years and 6 years 1 month and a day has gone since last payment we can send SB letter to the pests?
Helmsman.

no. Don't send that. Why rock the boat and alert them that you're aware of such a statute? Silence is best. If it's SB then it's SB - no claim will override that so just stay quiet - if post 6 years

[lookingforward]

Re: UE - One year on - now SIX years

so long as you didn't pay / in DMP - yes, should be fine

I did pay in DMP until the last payment in which was April/May 2010 (I wish I'd found you earlier) so I'm hoping that as they'd already issued the DN's in 2005 that the last payment 6 years plus 1 month will apply i.e. safely SB ?

[Never-In-Doubt]

Re: UE - One year on - now SIX years

I did pay in DMP until the last payment in which was April/May 2010 (I wish I'd found you earlier) so I'm hoping that as they'd already issued the DN's in 2005 that the last payment 6 years plus 1 month will apply i.e. safely SB ?

Not necessarily - no. They defaulted you but you then went onto a DMP which, once breached, meant another could be issued. Whether one was, or wasn't, won't matter too much right now but your default date is likely to be 2010 - on record.

It may well stand from before the DMP but best to assume not, hence proceed with caution so for now silence is best. No sending off any SB letters. Not worth the risk IMO

[lookingforward]

Re: UE - One year on - now SIX years

Not necessarily - no. They defaulted you but you then went onto a DMP which, once breached, meant another could be issued. Whether one was, or wasn't, won't matter too much right now but your default date is likely to be 2010 - on record.

It may well stand from before the DMP but best to assume not, hence proceed with caution so for now silence is best. No sending off any SB letters. Not worth the risk IMO

Damn, I've been wishing my life away waiting for the 6 year milestone

I've no problem keeping my head down (been doing it for years) but at some stage I would like to try and re-build my credit history too, if only to have something to fall back on in an emergency.

Would it be safe to assume SB status from the last payment date IF I've had no further DN after stopping paying the DMP ? (if I read you right they are supposed to issue a DN in 6/9 months from the COA so in my case last payment 04/2010 + 9 months would mean they'd have to send a new DN by 01/2011. So if they haven't I can go back to the last payment > 6 years and 1 month for SB

I assume they can't pop a new DN in the post now it's been over 6 years since the last payments ?

[Pixie]

Re: UE - One year on - now SIX years

Would it be safe to assume SB status from the last payment date IF I've had no further DN after stopping paying the DMP ? (if I read you right they are supposed to issue a DN in 6/9 months from the COA so in my case last payment 04/2010 + 9 months would mean they'd have to send a new DN by 01/2011. So if they haven't I can go back to the last payment > 6 years and 1 month for SB

That's what I'm doing. I wasn't in a DMP but I paid token payments for a few months so some of my DNs pre-date the last payment. I've drawn up a table with all the details on for each debt and use whichever date is the latest (DN or first missed payment) to work out when they're SB. Then I highlight it which is very satisfying So far I've 3 that are SB and another 5 to go.

I assume they can't pop a new DN in the post now it's been over 6 years since the last payments ?

No they can't!

[lookingforward]

Re: UE - One year on - now SIX years

That's what I'm doing. I wasn't in a DMP but I paid token payments for a few months so some of my DNs pre-date the last payment. I've drawn up a table with all the details on for each debt and use whichever date is the latest (DN or first missed payment) to work out when they're SB. Then I highlight it which is very satisfying So far I've 3 that are SB and another 5 to go.



No they can't!

Thx Pixie,

I looked through all my paperwork for each a/c but stopped once I'd found a DN because I foolishly thought they could only issue 1.

I need to re-check to see if any new DN's were issued after I stopped paying. If they have I'll add 6 years to that date but seeing as you've confirmed they can't issue a DN if it's been over 6 years since the last payments, if I haven't had any new DN's then hopefully I can safely say they are SB as it's now 6 years and 3 months since last payment

Wish me luck

[Pixie]

Re: UE - One year on - now SIX years

I need to re-check to see if any new DN's were issued after I stopped paying. If they have I'll add 6 years to that date but seeing as you've confirmed they can't issue a DN if it's been over 6 years since the last payments, if I haven't had any new DN's then hopefully I can safely say they are SB as it's now 6 years and 3 months since last payment

Wish me luck

That's only my opinion but I really can't see any reason why they would be able to do that otherwise they would all issue a new DN just before SB ad infinitum and no debt would ever be SB.

If I were you I'd keep my head down for another few months before applying for credit to rebuild your credit history.

[MustGetStraigh]

Re: UE - One year on - now SIX years

Thx Pixie,

I looked through all my paperwork for each a/c but stopped once I'd found a DN because I foolishly thought they could only issue 1.

I need to re-check to see if any new DN's were issued after I stopped paying. If they have I'll add 6 years to that date but seeing as you've confirmed they can't issue a DN if it's been over 6 years since the last payments, if I haven't had any new DN's then hopefully I can safely say they are SB as it's now 6 years and 3 months since last payment

Wish me luck

Good luck lookingforward.

I'm in a similar position. I wasn't on a DMP but was making token £1 payments. Mine all defaulted well over 6 years ago (most 6.5 years +) and the defaults are all off my credit file. I'm now at least 6 years 1 month since last payment so am hoping (and presuming) I am now SB on them all.

Although I am not taking them up on it - I had an offer of a 0% balance transfer come through the post the other day. It's years since I've been offered credit

[Never-In-Doubt]

Re: UE - One year on - now SIX years

You can only be defaulted once. Yes they can remedy a previously *bad* DN but regardless, that won't affect your credit file which should have been defaulted within the first year you stopped paying (the regular amount as agreed on the CCA with the lender) - again, regardless of the DMP. The only downside is the DMP generates AP history so it's likely any old accounts where the default has gone may have trailing history regards the DMP. If that occurred it'd be an error as the default, once on your credit file supersedes everything else. Even if they get a ccj it still stays marked as a default. Once that's occurred it stays like that for 6 years unless the holder requests removal early (ie the bank)!

[lookingforward]

Re: UE - One year on - now SIX years

You can only be defaulted once. Yes they can remedy a previously *bad* DN but regardless, that won't affect your credit file which should have been defaulted within the first year you stopped paying (the regular amount as agreed on the CCA with the lender) - again, regardless of the DMP. The only downside is the DMP generates AP history so it's likely any old accounts where the default has gone may have trailing history regards the DMP. If that occurred it'd be an error as the default, once on your credit file supersedes everything else. Even if they get a ccj it still stays marked as a default. Once that's occurred it stays like that for 6 years unless the holder requests removal early (ie the bank)!

Sorry Niddy, don't quite understand how that affects a possible SB date.

Now 6 years and 4 months since my last payment on the DMP and my car has just gone kaput so was thinking of trying to get one of those PCP's but (a) don't know if I'd get the credit, only score 1/5 on Noddle and b) don't want to risk waking everyone up if there's a chance they could still get me