Outstanding Debt...M.I.A???!

donnap83

Hello!

I know i shouldn't complain about this, but it's the strangest thing...

I've made a really effort to clear the debt i ran up as a stupid 18 year old. I think my debt totalled around the £8,000 mark. I worked with debt collection agencies, and now i owe 2 companies (Robinson Way & Cabot) around £120 collectively.

I applied for, and was given 2 creditcards wih Aqua & Vanquis with ive had for around 4 or more years. Perfect payment history and never had a problem with either. They were even helpful when i got made redunandant (Took out PPI after losing my previous 2 jobs to redundancy)

During the summer i got my £2 credit report from Experian. It detailed all my old debt including the 2 CCJ's i got. The 6 year statute bar thing was coming up on a few of the debts so i applied every couple of months for the credit report and watched as the CCJ's disappeared, and a few of the satisfied accounts.

However, when i got my credit report last week, ALL my old debts have gone, including the two i'm still actually paying. No mention of either Cabot or Rob Way, or the orginal credit companies (Capital One and Citicard) Bizarre, much?????

Took a chance and applied for a Capital One card this week, knowing full well I was still in a replayment plan for my last Capital One card (I owe £13.76, which is on a direct debit next month)

I passed the credit check and my card is in the post.

I don't get where all the defaults and satified debts went? Could Experian have messed up my credit report??

I've worked damn hard to clear the debts i ran up whilst I was an idiotic teen, and repair my credit rating, but i don't want to get my hopes up that it's finally all done and gone, only for it it reappear in a few months on my report.

Any thoughts/advise/personal experiences are welcome! :cool:

fermi

When did you default the accounts that have gone?

ALL details of defaulted accounts are removed 6 years after the initial default date, EVEN if you haven't finished paying them off yet.

donnap83

fermi wrote: »

When did you default the accounts that have gone?

ALL details of defaulted accounts are removed 6 years after the initial default date, EVEN if you haven't finished paying them off yet.

Within the last 2 months. I think i got a CR sometime in September, then again last week. There was one satisfied debt that was only satisfied in '06 though, so should that still be on my report?

fermi

donnap83 wrote: »

Within the last 2 months.

I thought you said it had been over 6 years?

I mean, when did you first have trouble paying the debts for those accounts? That is when a default would most likely have been registered.

Have you got one of the old CRs with them on to hand? If so, what does it say on each for the "default date".

donnap83

fermi wrote: »

I thought you said it had been over 6 years?

I mean, when did you first have trouble paying the debts for those accounts? That is when a default would most likely have been registered.

Have you got one of the old CRs with them on to hand? If so, what does it say on each for the "default date".

Sorry, though you asked when where the defaults last on the CR. I never read stuff properly!:p

Not sure when I defaulted on the accounts, but the majority were paid off and satisfied around 2004, hence why I've been keeping a beady eye on my report cos i know things were due to 'expire' or however you may put it.

Don't have my older reports to hand, they're at home and i can only access mu current, clean report. With nowt on it!:rotfl:

fermi

Well, if you defaulted these accounts for the first time back in 2004 or before with the rest of them, then it makes sense that they have come off now.

The old CRs should say a "defaulted on" date.

If that is over 6 years ago, then ALL details of the accounts should have been taken off the CR.

donnap83

Thanks. It's reassuring to know that it's not a mistake by the CRA.

Finally free of old debts!!!! :beer::j:j:beer::j:beer::beer:

donnap83

So now is it a case of repairing my credit rating by managing my accounts correctly?

Will it ever be 100% repaired (if I never miss payments etc)?

fermi

donnap83 wrote: »

So now is it a case of repairing my credit rating by managing my accounts correctly?

Will it ever be 100% repaired (if I never miss payments etc)?

Yes. Bearing in mind that DCAs can still go for a CCJ on accounts that you are still paying off.

But barring that, the record now seems to be clear. Using credit wisely and paying it off without defaulting afresh should eventually build up a good record.

donnap83

fermi wrote: »

Yes. Bearing in mind that DCAs can still go for a CCJ on accounts that you are still paying off.

But barring that, the record now seems to be clear. Using credit wisely and paying it off without defaulting afresh should eventually build up a good record.

They shouldn't have any reason to go for a CCJ. I'm making a final payment to one in January and then increasing the monthly payment to the other to pay it off within a couple of months. :T

Thank god for that. Now just to pay off some of my existing CC balance.:rotfl:

omgl

Hi, I am in same situaion, although I am not paying anything toward the debts as I cant afford to.

It has only been about 2 years since default, so when 6 years arrives and say if my situation doesnt change and no payment plan arranged, the debt will drop off my credit report? Thsi would be too good to be true !!!

After the 6 years, can the lender do anything for the debt to reappear again on my credit report?

Also, what if I defaulted 2 years ago, and the lender now decides to suddently go for a CCJ, does the 6 years start from the original default date of 2years ago, or from the CCJ

If this is all the case, then why would I bankrupt myself, I can just wait 6 years and I can then get credit anyway? Would this be correct?

Your help would be appreciated ...........

OMGL