Default on old bank account

Fishandchips1

Good morning!

I have a quick technical question after being chased for a HSBC current account default.

I opened the account in 1999 (aged 13). The account grew into a student bank account with an overdraft. There was a seperate loan in 2008 which I couldnt afford to pay. Eventually, the loan was "settled" and the balance was added to the current account taking it about £2,000 in the red. A repayment plan was setup but was unreasonable at the time and also not paid (head buried in the sand )

I have been recently chased for the money on this from a DCA after last marking a payment in October 2009. Once I got the chase up letters, I requested a copy of my credit report from all of the providers (Equifax, Experian, Noddle, Call Credit Check) and this account is not showing on my credit reports anywhere! :rotfl: (the loan is showing on there with one or two marks for late payment but settled, presumably as it was rolled into the current account)

This is by far my biggest debt (I have one other default on my records which is in the process of being settled - £400).

I have read in a few places that current accounts opened pre 2000 are not reported on credit files as the banks did not seek permission to report this information.

Do you think this is why the info isn't showing and do you think a default will ever appear? If this is passed on to a DCA, can they add their own default?

I am unsure if I am being very lucky or missing something? Presumably this doesn't affect the legality of the debt but may lessen the impact on obtaining future credit

Any advice would be greatly appriciated!

Tixy

Could well be that its down to the age of the account. Or that it might relate to that it was a child's upgraded account.

When you originally asked for an overdraft on the account there should have been some new paperwork at that time 2004/2005 time I guess?
It would be usual that that paperwork would, as well as explaining all the T&Cs of the overdraft and that its repayable on demand etc, also include the section on them having the right to share your information with the credit reference agencies etc.

If it didn't then they could not report to the CRAs. If it did, they may still have chosen not to report to the CRAs.