Will the 6 year debt rule apply to me?

cfp98

Here's the story; when i was 18 ~09/2004 I went £5 overdrawn on my account which didn't have any overdraft facility due to Tesco taking £5 out 3days after i had purchased fuel from their pay at pump facilities. As i had gone overdrawn the bank decided to put numerous charges onto my account for going overdrawn, at the time i wasn't living at the address that my statements and the charges kept racking up.

When i became aware of them the bank said that they were unable to reverse them and that i had to pay them, this i was unable to do so i just ignored them. A few months later ~ 06/2005i received a phone call asking for imediate payment which i was unable to pay so they advised me that they were forwarding the debt to a debt collection agency.

From this period i received numerous letters from the debt collection agency which i just ignored and i haven't received anything since i think around 02/2007.

I recently checked my credit report with equfax to gauge details about the actual debt. The details entered for this specific debt are:

Status; defaulted
date updated; 11/2007
date last delinquent; 11/05
default date; 11/05

My question is will the 6year debt rule apply to this debt and if so when will the 6years be completed?

Thanks in advance.

lolly_896

At a guess it will be 11/2011

Somebody more informed may be able to give you a definite answer though

Tixy

The 6year statute barred rule would apply from 6years after the date of the last payment into that bank account (as it appears you have acknowledged the debt since). So depending on when that was probably sometime in early 2011.

(this assumes there is no CCJ on the debt and they don't obtain one before that date).

Tixy

A default is usually put on 3-6months after the last transaction so it could be a bit before 11/2011

cfp98

Thank you for the quick replies, in the court information and other public records in my Equifax report just say no data present so i assume that there isn't a CCJ on the debt?

In order to not acknowledge the debt, should i wait until 11/2011 before i make any attempt on the the 6year statute barred rule?

GeorgeUK

If you have made no payment or written acknowledging the debt, it should be statute barred 6 years from the last acknowledgement (or payment). This would make it 09/10 although some argue that it is from the first missed payment which would be 10/10.

It depends when you last made a payment to the account though. 11/05 may be the date that the account was passed to a DCA who put the default on your credit file. If it was the date you defaulted or stopped paying though then it would be 6 years from this date.