Nearly 6 years, what should i do?

dave466

I have just checked my credit report today from equifax and have noticed that i have 4 accounts on there that are all defaulted.

1) Credit Card, (Cabot Financial) £686,
Date Last Delinquent 02/05,
Default 03/02/2005
Updated 28/05/2009

2) o2 phone, £733,
Date Last Delinquent 03/05,
Updated 12/04/2006

3) Mail order (Scotcall), £75,
Date Last Delinquent 04/05,
Updated 14/11/2007,

4) Natwest, £132,
Date Last Delinquent 07/05,
Updated 10/07/2006.

At the moment i am struggling a little with money due to losing my job recently so i am wondering what should i do with respect to these above accounts?

From what i've been reading am i right in thinking that it will be best not to acknowledge nor make payments to these so that they become statute barred and then drop off my file by the middle of next year rather than restarting the 6 years?

Also would other credit agencies have any other information that equifax do not have?

Any help is much appreciated.

sofababe

dave466 wrote: »

I have just checked my credit report today from equifax and have noticed that i have 4 accounts on there that are all defaulted.

1) Credit Card, (Cabot Financial) £686,
Date Last Delinquent 02/05,
Default 03/02/2005
Updated 28/05/2009

2) o2 phone, £733,
Date Last Delinquent 03/05,
Updated 12/04/2006

3) Mail order (Scotcall), £75,
Date Last Delinquent 04/05,
Updated 14/11/2007,

4) Natwest, £132,
Date Last Delinquent 07/05,
Updated 10/07/2006.

At the moment i am struggling a little with money due to losing my job recently so i am wondering what should i do with respect to these above accounts?

From what i've been reading am i right in thinking that it will be best not to acknowledge nor make payments to these so that they become statute barred and then drop off my file by the middle of next year rather than restarting the 6 years?

Also would other credit agencies have any other information that equifax do not have?

Any help is much appreciated.

It might be worth signing up to Experian too, tho they have exactly the same info as Equifax in my case but sometimes they do differ.
As long as you haven't paid anything towards these accounts since the default dates they will be statute barred by middle of next year:j Is this the case?

dave466

Yes i have never paid anything towards them, will they just drop off or will i need to send any letters?

Ames

They'll just become statute barred, you don't have to do anything but write a polite 'go away' letter if anyone tries to get you to pay once they're SB.

It doesn't go on the default date though, it goes on the date you last made payment or acknowledged the debt in writing, so the SB date might be sooner than you think.

So just sit tight and wait it out!

McKneff

Presumably youre in England,

Statute barred time is 5 years in Scotland, just in case thats whre you are.

bottleofred

You obviously can sit tight if you like, but don't be surprised if you suddenly start getting letters/calls as you've had a copy of your credit file. I got mine from Experian and suddenly Mackenzie Hall were able to get hold of an ex directory number and my work details!

Good luck whatever you decide though and if you do start getting contacted, you can send the letter regarding written communciation only.

dave466

Ames wrote: »

They'll just become statute barred, you don't have to do anything but write a polite 'go away' letter if anyone tries to get you to pay once they're SB.

It doesn't go on the default date though, it goes on the date you last made payment or acknowledged the debt in writing, so the SB date might be sooner than you think.

So just sit tight and wait it out!

Thanks to all for replies.

Mckneff yes i am in England.

With you saying it doesn't go on the default date does that mean the Date Last Delinquent?

What i think i'm tryinmg to ask is, will the date last delinquent be the longest i have to wait on the account?

dave466

will the date last delinquent be the longest i have to wait on the account?

sofababe

The "delinquent" reference is when the account went into arrears by 30 days/you stopped paying, so yes, that would be the date that debt should become SB. The default date is usually pretty close behind the delinquent date as they only have 6 months to issue a DN after the account becomes delinquent.

As you request your file you will, as Red says, start being contacted by the creditors. You can try to hold out or you can ask them to "prove it" which doesn't count as an acknowledgement as the letter states that you have no knowledge of the debt. You can certainly try to drag this process out till the SB dates. I would

WRINKLES

Ignore all letters, Ignore all phone calls , wait untill you are 100% sure there has been a six years and one month gap before sending a statute barred letter , send recorded delivery , download post office proof of delivery , download the signature ,keep copies of everything .

dave466

Only reason i asked about the delinquent date is because i really can't remember the last time i paid any of them although i know its been a long time.

I obviously dont want to start the 6 years rolling again so want to be certain that its been 6 years and 1 month so does that mean i can go from the delinquent date?