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What does 'Satisfied' mean on a credit report (Noddle)?
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Ah excellent, so if I start a payment plan of like £10 per month and then come Jan 2013 I can just tell them that I no longer acknowledge the debt, there's nothing they can do?
No. Before the 6years years are up, every time you make a payment you reset the 6 years to the start again. Giving them another 6 years to take legal action and get a CCJ.
Starting payments and stopping in 2013 would be nuts, as they would have until 2019 to get a CCJ and screw your credit record again for another 6 years. :eek:
I think you should probably give someone a call to talk over your options and consequences? perhaps National Debtline? Freephone on 0808 808 4000.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Ah excellent, so if I start a payment plan of like £10 per month and then come Jan 2013 I can just tell them that I no longer acknowledge the debt, there's nothing they can do? It's all completely off of my credit record, and there's no legal way of them enforcing the a payment as I'm fully within my legal right to decline ackowledgement.
Er, no. If you start a payment plan now you are acknowledging the debt. In Jan 2013 the default will still vanish from your credit file but you'll still be liable for the debt and they can legally enforce this (e.g. by getting a CCJ against you) - which WOULD be added to your credit file.
ETA: Too damn slowDo you not know that a man is not dead while his name is still spoken?
― Sir Terry Pratchett, 1948-20150 -
No. Before the 6years years are up, every time you make a payment you reset the 6 years to the start again. Giving them another 6 years to take legal action and get a CCJ.
Starting payments and stopping in 2013 would be nuts, as they would have until 2019 to get a CCJ and screw your credit record again for another 6 years. :eek:
I think you should probably give someone a call to talk over your options and consequences? perhaps National Debtline? Freephone on 0808 808 4000.
I can't quite gather when I last made payment (which was also the last time I acknowledged it) but it was sometime in 2007.0 -
I can't quite gather when I last made payment (which was also the last time I acknowledged it) but it was sometime in 2007.
Which means it wouldn't be statute barred until 2013.
BUT, if you start repaying before then, you reset the clock again.
So if you make payments now in 2012, then it won't be statute barred in 2013.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Which means it wouldn't be statute barred until 2013.
BUT, if you start repaying before then, you reset the clock again.
So if you make payments now in 2012, then it won't be statute barred in 2013.0
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