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Statute barred / default question
simax
Posts: 1,977 Forumite
in Credit cards
Sorry, prob in wrong place, but here goes....
Agreement taken out in Jan 2004, stopped paying it in July 2004 as suddenly realised I was pushed into an unaffordable consolidation loan from NatPest that was crippling me.
Looking though my credit report, I see that it took them until August 2006 to default me!
Now, as the last payment was over 6 years ago, is it statute barred, or does the default reset that clock?
If it is stat barred, then ok, however why did it take them so long to register the default? (Plan at the time was for them to contact me and I do a DCA repayment with interest frozen, but they have never contacted me).
Thanks
Agreement taken out in Jan 2004, stopped paying it in July 2004 as suddenly realised I was pushed into an unaffordable consolidation loan from NatPest that was crippling me.
Looking though my credit report, I see that it took them until August 2006 to default me!
Now, as the last payment was over 6 years ago, is it statute barred, or does the default reset that clock?
If it is stat barred, then ok, however why did it take them so long to register the default? (Plan at the time was for them to contact me and I do a DCA repayment with interest frozen, but they have never contacted me).
Thanks
I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
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Comments
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If no acknowledgement or payment has been made towards the debt since July 2004 then yes the debt is considered as statute barred but the default will show as unpaid on your credit file until august 2012....0
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If no acknowledgement or payment has been made towards the debt since July 2004 then yes the debt is considered as statute barred but the default will show as unpaid on your credit file until august 2012....
Thanks... I always wondered why they never bothered to contact me when I stopped paying... Was waiting with a proposal and all. It wasn't for small money either, unless you call £27k small money? :eek:I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂0 -
hi good good good good0
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