statute barred

kirstycobie

hi

anybody no anything about this? im confused.

after 6 years and debt is statute barred does it automatically get wiped off your credit report or do you have to get the company to wipe it off? or does that last defult stay on file for another 6 years?

thanks everyone x

needuradvice

After 6yrs, a debt becomes statute barred if:-

1. You have not acknowledged in WRITING that this is your debt
2. You have not made any payments within the 6yr period
3. You don't have any CCJs

The credit report tends to knock of any debts 6yrs or older.

Hope this helps.

kirstycobie

hi

thanks for that.

so the date of default on your credit report, do i take that as factual? just dont want to send letter incase payment was made at a later date.

GeorgeUK

Kirsty, as already mentioned, the debt will be statute barred 6 years after you last acknowledged the debt - either in writing or by making a payment.

The default date should be no later that 6 months after the original agreement was breached - the date you defaulted on making payments. Most defaults have teh date of the default as the date that is entered on the credit report. You don't need to write to ask for it to be removed or anything, but the accounts will stay on your account for 6 years from the date it was closed (or defaulted).

If the default date is incorrect - some companies put the default date as the date they put it on your credit file which can be years later and is a breach of the Data Protection Act, you should inform the credit reference agency and get them to amend this. They should be able to see from the payment history on the account as to when the last proper payment was made if it has been properly updated.

never-in-doubt

See here: Debt Factsheets - Liability for Debts and the Limitation Act

If it is SB'd then send this to the lender/DCA: Statute Barred Debt - England

kirstycobie

thanks for the info