Unsettled defaults quick question

[spyder]

Hi guys,

If a default is unsettled, and it subsequently drops off my credit file due to the 6 year time limit, can it then still be enforced for repayment after that 6 years?

Kind regards

[MissFM]

Re: Unsettled defaults quick question

It depends on whether it's statute barred - You need to perhaps be more specific.

Expert help on it's way!

[spyder]

Re: Unsettled defaults quick question

Ok, looking at my credit report with Equifax I can see 3 dates.
Start date 12/12/07
Default date: 31/10/2009
Date Updated: 19/01/2011

The last "Payment" entry in the "Payment History" section was October 2009 when the default was registered.

[spyder]

Re: Unsettled defaults quick question

It's a loan by the way, probably should have mentioned that

[Guest]

Re: Unsettled defaults quick question

It depends when they defaulted you. The barr will l run form when they are able to demand full payment of the agreement due to your default, or your last payment made on the account, which ever is latest.
If this is a loan and it was for a fixed period it may be that you weren't defaulted for some time after missing your payment, they usually give you three months, so it would run form then. If you received a section 87 default notice this would be a good indicator, the entry on your credit file is less reliable as they can place this on there at any time after you miss a few payments.

[spyder]

Re: Unsettled defaults quick question

Judging by my payment history, the default date of 31/Oct/2009, which is shown in the report, would be accurate...... So let's assume that the default was placed on this date. No further payments or arrangements to pay have been recorded or actioned since that date, nor have I had any contact with them.

[spyder]

Re: Unsettled defaults quick question

Or at least the default was backdated to this date...... (Im speculating based on the Date Updated date of 19/01/2011)

[Guest]

Re: Unsettled defaults quick question

Judging by my payment history, the default date of 31/Oct/2009, which is shown in the report, would be accurate...... So let's assume that the default was placed on this date. No further payments or arrangements to pay have been recorded or actioned since that date, nor have I had any contact with them.

Then a long s they were entitled to demand full payment on that date and there was no subsequent payments or written acknowledgements by you then it would be this date plus six years.

[spyder]

Re: Unsettled defaults quick question

Ok, so the date of drop off then would be 31/Oct/2015.

As of this date, am I correct in thinking that no further recovery action can be taken?

[Guest]

Re: Unsettled defaults quick question

Ok, so the date of drop off then would be 31/Oct/2015.

As of this date, am I correct in thinking that no further recovery action can be taken?

Once the six year date has passed no court enforcement action can be taken although the debt still exists(in England), it does not stop them asking you for the money, if you tell them it is SB they should desist. In Scotland after 5 years the debt is expunged and no longer exists.

[spyder]

Re: Unsettled defaults quick question

Thankyou for the advice