Statute barred debt help?

SuperSaver257

I took out a loan 7 years ago for 3.5k and due to sudden unemployment I was unable to make any repayments. By the time I got back on my feet I buried my head in the sand. I have never made any repayments or had any contact with the loan company. I have requested a copy of my credit report and the debt is showing up as over 20k and has never been defaulted. Reading through other threads it seems that the debt should have been defaulted within 6 months of going in arrears. Is this correct? Also, as I have had no contact with the loan company since I signed the agreement, does this mean that the debt is now statutory barred? If yes, how do I remove it from my credit rating if they do not voluntarily default it?

really hope someone can help!!

Tixy

If you've not made any payments or had any contact (and if they don't have a CCJ) then yes the debt would be statute barred.

They are not chasing at the moment? if they start then you can send the statute barred template letter.

With regards to a default - the ICO guidance on defaults says the an account should normally be defaulted within 3 to 6months of an account going into arrears.

Has anything at all been marked on your credit file? missed payment markers or anything? when is the date last updated?

SuperSaver257

I have had no contact and made no payments for 7 years. They are not chasing me and havent as of yet. Should I still send the statute barred letter or leave it be?

The date of last being updated on my credit file is last month and the status history is all 6's. How can i get this off my credit file?

Thank you for your help.

SuperSaver257

Just to confirm, I sent a letter to the loan company a few years ago about two previous loans I had had with them that had been cleared before I took out the loan in question. Does this count as contact as it is relating to a completely different loan. Letter below. I had no response from the company to this letter. But this may have been within 6 years.



Dear Sir or Madam,
Account number: Old loan account number, not the same as the recent loan
I am writing to request copies of my two original loan agreements with LOAN COMPANY. First loan completed and second loan taken on or around DATE. If the original loan agreement does not include details of the insurance added to the account, such as the number and cost of any monthly payments or any lump sum fees and interest charges applicable to this fee, please attach or advise how I can get access to this information.

I look forward to your response within 40 days, as is obliged under the Data Protection Act 1998. If not I shall seek remedy from the Information Commissioner.
Yours faithfully,

chanz4

That letters not right, what your asking for is a subject access which also carrys a £10 fee

fermi

SuperSaver257 wrote: »

Just to confirm, I sent a letter to the loan company a few years ago about two previous loans I had had with them that had been cleared before I took out the loan in question. Does this count as contact as it is relating to a completely different loan.

If it relates to a completely different loan, then no.

Acknowledgement must be "by making an unequivocal written admission clearly acknowledging that the obligation still subsists".

vax2002

If you have just performed one of those free online credit checks, they will sell your details to a "selected third party" in other words a debt collector, who will chase the file, buy it and harras you for the money.

SuperSaver257

I have had no contact and made no payments for 7 years. They are not chasing me and havent as of yet. Should I still send the statute barred letter or leave it be?

The date of last being updated on my credit file is last month and the status history is all 6's. How can i get this off my credit file?

Can you help me with the above? Just worried about it staying on my credit file forever?