Credit Report Help Please

Carlos007

Hey all,

Just new to the site and have a question about a debt.

I've been out of work for quite some time and I am now working again so I am looking at tidying up my debt and getting it cleared once and for all. I have already satisfied three debts so happy with that.

Now looking at my credit file. I have a debt that started in 2003 and it defaulted on 21/10/2006. Now my unstanding is that a default is removed 6 years from the default date meaning the default on this account would be gone this October. What I am wanting to know is- Can another default be put on that account before October thus giving me another default for 6 years? I've not contacted these people yet but I intended to to make a start on paying off the debt. If I do this will they have the power to put another default on my account?

Thanks for any help.

Carlos

fermi

No, they cannot.

One default is all that is allowed on an account. Ever.

When that expires after the 6 years, the default and all details of the account are removed from your credit. That happens whether you have been paying or not, and whether it is settled at the time or not.

Carlos007

Thanks for the speedy response fermi.

So even if I call them now and arrange to make payments towards this come October time the debt will be cleared off my credit file?

If this is the case then if there any point in paying it off know I am not going to be able to pay the full amount by October?

Thanks again

fermi

They could always go to court and obtain a CCJ between now and October.

That wouldn't stop the default being removed, but it would add a separate court judgement entry on your credit file if granted, which would stay for another 6 years.

Now it's unlikely they would do that, but you never know.

The other thing to consider is that the debt may be statute barred. Either now, or sometime between now and then.

See this link: http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act

In the end it's your judgement call on what you do....

Carlos007

Thanks for the info with this. Been a big help