Statutory barred debt on credit file?

SuperSaver257

In August 2006 I took out a personal loan of 3500 with the full intention of repaying the loan in full within a month as I was owed 15000 by my business partner. I have still to this day not received any of this money and have buried my head in the sand about the personal loan. I have just requested a copy of my credit report and the debt is now standing at 21000. I have never made a payment or had any contact with the loan agency since August 2006. I have had a call today from a company acting on behalf of the loan company at which I hung up on as I panicked. I have been told that after August 2012 my debt will be statutory barred. But I am worried about my credit file. As the debt is not showing as defaulted as from what Ive read can now never be defaulted as it has been so long, what happens after the debt has become statutory barred? Will this stay on my file indefinitely as it is not defaulted? Thanks for any advice you can give.

Tixy

Debts do sometimes stay on credit reports a good while after they become statute barred.

Once it is definitely statute barred (assuming it does go SB) then in a few months you could try to get it removed from your credit file by writing to the creditor (or debt collector) whose name is on your file.

Not on the argument that its SB, but on the basis that it should have been defaulted no later than say Jan 07 - and if it had been correctly defaulted would have gone from your file from Jan 13.