forum newbie-what happens at 6 years?

mrsrb_2

I ran up a load of debts-about £20k in the past and am coming up to the six year date from my last contact with the debt collectors.

In the past 6 years I have paid all bills in full and on time.

I currently run a business but it is in my husbands name due to my poor credit history.

What happens at 6 years? Does my credit rating improve? Can I finally do an experian check which I do not do at the moment for fear the collectors will get my address? Can I have a bank account?

HappyMJ

mrsrb wrote: »

I ran up a load of debts-about £20k in the past and am coming up to the six year date from my last contact with the debt collectors.

In the past 6 years I have paid all bills in full and on time.

I currently run a business but it is in my husbands name due to my poor credit history.

What happens at 6 years? Does my credit rating improve? Can I finally do an experian check which I do not do at the moment for fear the collectors will get my address? Can I have a bank account?

The debts will fall off your credit report. You should do a credit check anyway. Don't worry about searches and creditors finding your new address. You can just ignore any correspondence you get. You can get a free credit report with Noddle (from callcredit).

You can have a bank account even with £20,000 of unpaid debt. It will most probably be a basic account with no overdraft or cheque book but at least it is a bank account.

fermi

mrsrb wrote: »

What happens at 6 years? Does my credit rating improve? Can I finally do an experian check which I do not do at the moment for fear the collectors will get my address? Can I have a bank account?

Defaults fall off your credit record 6 years after they were first put on.

That may be before or after the debt becomes statute barred, depending on when they defaulted you, so you may not have a completely clean report for some months after the debts are technically statute barred.