Defaults confusion

[Brainmelt]

Defaults - very confused. Im losing my marbles a bit i think.

Can someone please clarify when defaults start on a credit report, is it within 3-6 months of missed payment (if no further payments have been made), the month after missed payment (if no further payments are made) or following issue of default notice - or is the default notice only in connection to the 3-6 month deadline if no further payments have been forthcoming?

I am hoping that one of my debts is now stat barred (or nearing). Last payment made was the end of March 2012. Default notice/Termination around July/August 2012. starting to 'itch' re the 'Debt is statued barred' letter as DCA still chasing.

In the meantime I have followed excellent advice by keeping clear of viewing my own credit report for some years now.

Someone please help clear my fogged brain:-(

(Sorry should have mentioned this is a credit card debt, not an overdraft which i understand is a little different).

[jaguarsuk]

In the meantime I have followed excellent advice by keeping clear of viewing my own credit report for some years now.

Why would that be excellent advice?

[pt2537]

Defaults - very confused. Im losing my marbles a bit i think.

Can someone please clarify when defaults start on a credit report, is it within 3-6 months of missed payment (if no further payments have been made), the month after missed payment (if no further payments are made) or following issue of default notice - or is the default notice only in connection to the 3-6 month deadline if no further payments have been forthcoming?

I am hoping that one of my debts is now stat barred (or nearing). Last payment made was the end of March 2012. Default notice/Termination around July/August 2012. starting to 'itch' re the 'Debt is statued barred' letter as DCA still chasing.

In the meantime I have followed excellent advice by keeping clear of viewing my own credit report for some years now.

Someone please help clear my fogged brain:-(

(Sorry should have mentioned this is a credit card debt, not an overdraft which i understand is a little different).

Generally speaking, a Default on the credit file is an indication that the relationship between the creditor and debtor has broken down to the point where it is irrecoverable.

This can be anyhwere between 3-6 months after the first missed payment. For example, if you agree a payment plan with the creditor and then 12 months later breach it, a default could be recorded then, even if you had breached the original contract 12 months prior. It really does depend on the facts of the individual case really

[Diana M]

Why would that be excellent advice?

Because checking a credit file can alert your creditors to the fact you are 'alive and kicking' which may draw attention to dormant debts nearing the Statute Barred finishing post.

Let sleeping dogs lie is sometimes the best approach.

Di

[jaguarsuk]

Because checking a credit file can alert your creditors to the fact you are 'alive and kicking' which may draw attention to dormant debts nearing the Statute Barred finishing post.

Let sleeping dogs lie is sometimes the best approach.

Di

Thanks, suppose they have to search to compile the report and makes sense.

[Brainmelt]

Hi. Thanks for the response(s). Will use the termination date as a guide (i think) as safest bet, and leave it at that. Oh Hum. last payment March 2012 default notice indicates August 2012. If i understand correctly, credit file should show as default prior to issue of default notice anyway(?) account withdrawn/terminated August 2012 (due to my failure to follow DN request and bring account up to date by the time specified).