can welcome finance do this registering a new default on statute barred debt

lilly153

so ive been trying really hard to clear all my debts alot of them did go statute barred and have cleared a massive load of my self

finally plucked up the courage to view my dreaded credit report this month, i had 4 defaults on it and 3 healthy account im in the process of contacting the lenders and offering them full payment and also whats the chances of them removing the default (unlikely i know but worth a try)

anyways i phoned credit expert yesterday to cancel my 30 days free trial and they told me i had more stuff linked to a previouse address from more than 6 years ago that wasnt showing on my credit report because i had only provided them with my last addresses from previouse 6 years but lenders could still see it and would i like him to put it up for me so i got that done only to find welcome finance a debt that defaulted in 19/05/2007 so should now be statue barred (im in scotland) only to discovere they have put the account
Partial Settlement:Start Date:01/05/2012
i have not paid a penny to this account can the really do this, i know it was my debt so i should have of course paid it got my self into a stupid situation with stupid amounts of debt have spent last few years paying of hundreds a pounds a month im a single parent so things have been hard but i really have tried my best i was down to just under £1000 in debt and even started saving for the first time ever and looking forward to the prospect of getting a mortgage in 3 years when last of defaults were fully paid and fell of credit repoprt

Angry_Bear

lilly153 wrote: »

.... a debt that defaulted in 19/05/2007
....
they have put the account Partial Settlement:Start Date:01/05/2012

I'm not really clear on this. Is there one account on your credit report that was marked as defaulted on 19/05/2007 and partial settlement on 01/05/2012. If so, then yes, they can do that. But the account will still drop off your credit report 6 years after the default date (i.e. 2013).

Or, have Welcome Finance added a second account to your credit report? They're NOT allowed to do that.

Or, the account was never reported on your credit report as defaulting in 2007 and Welcome Finance have just added it as a new account. They're also not allowed to do that, they have to report the default within a "reasonable" time - usually taken to be about 6 months.

lilly153

sorry i know i was rambling a bit just seen it this morning for first time and was totaly gutted
no i have one account from welcome finance on my account it was defaulted in 2007 and stated partialy settled on 2012 (which wasnt me) but i thought that ment the clock started reticking from the new settled date meaning i would have to wait another 6 years for it to be gone

also just to clarify then i have 4 other defaults from diff companys the default dates on these were in 2009 i want to still pay these debts as i know they will still show on my credit report for a long time so does that mean once ive paid them the clock will start again on the 6 yrs or will the default date stick and regardless to wither payments recieved or not they will still drop off 6yrs after default date

also thank you for taken the time to reply

fermi

lilly153 wrote: »

Partial Settlement:Start Date:01/05/2012

That is NOT a new default. It's just a partial settlement flag.

Unless you did a settlement with Welcome at that time, or it was included in a bankruptcy/IVA etc, then it's most likely been put on there due to the debt being sold on.

As long as there is not a completely separate account listed for the Welcome debt on top of that one, then it should be OK.

The account will still be removed from your report on 19/05/2013

lilly153

again thanks for the response just one more question if the debt was sold on in 2012 im guessing this new company can pester me for payment but cant register new account on my report or add any new defaults against me in any years to come

fermi

They can ask you to pay, but...

- It does not restart the 6 years clock for debts being statute barred. Only you acknowledging the debt in writing or making a payment can do that.

- They should not register new default in addition to the one from Welcome. They can have the one from Welcome switched over into their name, but they can't issue a new default or change the default date. So even if they did that it should still come off in May 2013.

Angry_Bear

For the record, accounts drop off your credit report 6 years from default date not settlement date. Likewise, CCJs - or decrees as you're in Scotland - drop off 6 years after registration (not satisfaction).

Fermi is right (as usual ) about the statute barring as far as England goes. But in Scotland it is only 5 years - I'm guessing you know this already from your first post, additionally I believe (I'm not 100% sure on this) that debts are completely written off in Scotland after 5 years, so, unlike England, they can't actually ask you to pay.

spacey2012

If you have made a credit search, the "lenders" will be contacting you, they now have your correct details.