Statute barred info required...

figaro80

Hello, I recently applied to view my credit report for the first time and have found that I have a Default Notice on it from a loan.
I got the loan out in September 2005 and thought it would be Statue Barred by now (I didn't pay it off). My credit report states that from the last payment I made was 3 months before August 2006, so May 2006. It is then listed as Unknown Status until October 2007, when a Default Notice is put on, which runs out in October 2013.
Does anyone know how I get this changed, as it should be statue barred by now, nearly 7 years later, and over 8 by the time they say it is Statute Barred.
Any help would be appreciated, thanks.

Fig

McKneff

TThe 6 years runs from the date the default is put on which (if I am reading your post right) it is October 07)
and will drop off October 2013.

jonesMUFCforever

Does it matter?
You defaulted - do you think that it will be easier to get credit today than in 2005/7?
If so think again.

McKneff

But sharp there I think and really not very helpful, not like you normally I have to say.......

And yes it does matter, credit will be easier to get the older the default is.

Apples2

Just out of curiosity, are you going to pay the new loan off or is this a 6 yearly cycle of taking loans and not bothering yourself to repay those idiots who trust you?

jonesMUFCforever

McKneff wrote: »

But sharp there I think and really not very helpful, not like you normally I have to say.......

And yes it does matter, credit will be easier to get the older the default is.

IMO credit is not as freely available as it was in 2005. That was what I meant.
I do hope OP does not get any new credit though as idiots like him push up the cost for everybody else who do pay back what they borrow.

dealer_wins

I think the OP will be in for a huge reality check when they start applying for credit again!!

InsideInsurance

Statute barred simply means that you can lodge the defence that it has been too long if they were to take you to court. It doesnt actually mean that you do not owe the money any more and doesnt mean they cannot report to the credit reference agencies that the money is default - they just cannot directly force you to pay it.

RichL74

So I take it by the replies that if you are not savvy and got into trouble in the past that there is no way for him to rebuild his credit history ever again?

I'm sure nobody wants to get into debt or default on a credit card or a loan, but these things unfortunately do happen.

Things might drop off your credit rating after 6 years but the lending companies are all like elephants and never forget?

figaro80

Thanks for the cheap shots. I don't think the 1300 quid loan, which I defaulted on (as a matter of principle due to reasons I won't go into). I simply wanted the information to know when the report will be clear.
As it happens, the Bank of International Settlements states the global derivatives market exceeds $1.5 Quadrillion (Quadrillion), which, very soon, will crush Western, and global civilisation, and absolutely end your future and your childrens. And none of you have protested this, so stick your cynicism up your asses.

Enterprise_1701C

I think people were trying to tell you it will drop off your credit file 6 years after your default, the fact it is now statute barred does not mean that the people you took the loan from will just ignore it.