Advice on old debts - futher advice please

rogerblack

inca1000 wrote: »

Obviously I am going from the wrong date - can you confirm which date i should be using?

Thanks

The date of default can be no earlier than after your last payment when you were in good standing with them.

As I understand it, it would normally be the date of the first missed payment after which you never paid any more.

So you pay in november, were supposed to pay in December, but did not, then the date of default is December.

Even though they may be quite willing to in January take a reasonable excuse, and accept late payment, if you don't pay at all, then the date of default stands as December, not whenever they choose to send you 'payment due now in full, or we hand this over to our collections department'.

As I understand it.

BAILEYS6904

I was under the impression that the 'clock' starts from the last time you paid or acknowledged the debt. So if you have been paying on the debt lately, the clock has restarted from that date

Tixy

inca1000 wrote: »

Obviously I am going from the wrong date - can you confirm which date i should be using?

Thanks

It would be the date of the last payment - not something you can see from your credit file. This could be before or after the default date.

rogerblack wrote: »

The date of default can be no earlier than after your last payment when you were in good standing with them.

As I understand it, it would normally be the date of the first missed payment after which you never paid any more.

So you pay in november, were supposed to pay in December, but did not, then the date of default is December.

Even though they may be quite willing to in January take a reasonable excuse, and accept late payment, if you don't pay at all, then the date of default stands as December, not whenever they choose to send you 'payment due now in full, or we hand this over to our collections department'.

As I understand it.

Defaults are usually not issued until a person is at least 2 months behind on payments (or paying less than contracted for 2months). A default cannot be added until a default notice has been sent out giving the person a chance to bring the account up to date, and they cannot be backdated. For that reason defaults are typically dated 3-6months after a person stopped keeping up with contracted payments.

BAILEYS6904 wrote: »

I was under the impression that the 'clock' starts from the last time you paid or acknowledged the debt. So if you have been paying on the debt lately, the clock has restarted from that date

That would be right - unless there had already been a 6year period. In which case the clock would never restart (obviously in this case there never was a 6year period with no payments/acknowledgements).