Capital One statute barred.

[charharp]

I have a default from Capital One from April 2008, the first missed payment on the account was September 2007 with no further activity. Does anybody have any experiences of getting a default removed early under these circumstances? It is now statute barred and the default was for a relatively small amount of £800.

[labman]

Re: Capital One statute barred.

Is there a reason you need it removed within the next 6 months? If not, I'd leave it be and let sleeping dogs lie. :beagle:

[charharp]

Re: Capital One statute barred.

Sort of yes, I'd like access to mainstream credit again as soon as possible. Life is so much more difficult without it. Surely they can't do anything now it's statute barred anyway?

[gaz2006]

Re: Capital One statute barred.

its not statute barred until april 2014 they dont have to backdate default to first missed payment afraid you have no grounds for removal unless default was done wrongly etc sorry regards gaz

[labman]

Re: Capital One statute barred.

A debt becomes statute barred 6 years after 'the cause of action.' For most debts, National Debtline has an excellent factsheet:

http://www.nationaldebtline.co.uk/en...limitation_act

[FlamingParrot]

Re: Capital One statute barred.

I have a default from Capital One from April 2008, the first missed payment on the account was September 2007 with no further activity. Does anybody have any experiences of getting a default removed early under these circumstances? It is now statute barred and the default was for a relatively small amount of £800.

Although SBd is generally regarded as 6 years without payment or written acknowledgment, officially it's 6 years from the cause of action, which takes place AFTER the first missed payment. For that reason it's best to leave sleeping dogs lie a bit longer.

Sort of yes, I'd like access to mainstream credit again as soon as possible. Life is so much more difficult without it. Surely they can't do anything now it's statute barred anyway?

Surely you can wait a few months... :clock: Also some lenders only search the last 3 years which means they wouldn't see your 5 year old default. :grin:

[gaz2006]

Re: Capital One statute barred.

im really talking about default will stay on credit file for 6 years after default notice issued sorry if confused anyone

[charharp]

Re: Capital One statute barred.

[/QUOTE]Surely you can wait a few months... :clock: Also some lenders only search the last 3 years which means they wouldn't see your 5 year old default. :grin:[/QUOTE]

Any idea who these lenders are?

[FlamingParrot]

Re: Capital One statute barred.

I'm sorry I don't know the answer myself, it's not common knowledge or something they'd advertise. It's a matter of luck I'm afraid, you just have to apply and see if you get accepted, bearing in mind it's not good to have too many rejected applications (or too many applications for that matter), in a short period of time.

[ncf355]

Re: Capital One statute barred.

Hi,

Having been through clearing my file up over the last 6 months I'd say you have very little/no chance of getting it removed early

In my case, the lenders had entered the Defaults from 3 months to 3 years late, so I had a case

You state the first missed payment was September 2007, so in the Information Commissioner's view the default would have to be applied by March 2008, meaning you are very unlikely to get this altered

Also, as alluded to above, by contacting them to try and attempt early removal you would risk restarting the Statute Barred clock - it's really not worth the risk for such a VERY small chance of the default being removed early

You need to keep any eye on your file in April 2014 and make sure it's removed on time - beyond that, there is little you can do I'm afraid