electrol roll

oxomcfc

Hi,5 years ago i had an overdraft for £3000 pound that i stopped paying.in 5 years i have had one letter from natwest and have no leters from any debt collection agencies.i know the letters could still come.me and my wife are not on the electrol roll on the home we own and obviously struggle to get credit for that reason.I am concerned that that might be the reason i dont hear from the debt collection agencies.should i go on the electrol roll(i know i should for other reasons)or will this give the debt agencies some sort of proof i that i live there.would be nice to start getting credit.cheers

Layton

perhaps another 3k would be nice eh....

WRINKLES

After six years of no activity on an account and no acknowlegment from you then a debt becomes statute barred it cannot be enforced through the courts

Blahah

Whilst you could wait another year until the debt becomes statute barred, why don't you just face up to the debt? It sounds like you're hoping to find a way to shirk your previous debt so you can build up more.

Even if you go on the electoral roll, you will still have a default on your credit record which will affect your ability to get credit. If you negotiate a settlement with natwest you could clear the whole debt and get the default removed, probably for around £1000. Then you'd have a clean slate (morally and financially).

oxomcfc

thanks for the advice waiting a year is the most sensible option like you said.

stclair

Banks & Credit reference agencies are members of GAIN a network through which lenders share information on customers with debts who have moved home without telling their lenders of a forwarding address.

The information may include both the address the customer moved from and any address the customer has since been recorded as living at.

Therefore you can still be traced even if your not on the electrol register.

WRINKLES

Adefault will drop of your credit file after six years, usually you are defaulted soon after missing payments, Make your own mind up .i know what i would do

oxomcfc

and what would that be wrinkles

WRINKLES

Iwould wait aYEAR DO NOT ANSWER ANY LETTERS morals have nothing to do with this Do you know any DCA s or banks with morrals

oxomcfc

EXACTLY... cheers wrinkles

Blahah

Morals do have something to do with it, but we each hold ourselves to different moral standards. Why would a bank have morals? You'll find plenty of bank employees with morals. If your moral standards allow you to take money on the premise that you will repay it, then deliberately avoid having to keep to your side of the bargain, then that's probably the route you should take. If your moral standards hold you to the agreements you have made, you should try to settle the account.