Defaulted Bank account - Should i leave for 6 years?

[Deleted User]

I think you have the right idea! The only thing I would consider is that you have now updated your details with the credit ref agencies, you may well get a lot of letters now from anyone that's dealing with the debt currently :-/

Thrugelmir

goaroundnow wrote: »

There's plenty of, admittedly anecdotal, evidence that some lenders will once again do business with a previous defaulter.

Depends if you want to take that chance. With current computer systems far easier to store databases of historic records.

rizla_king

You-kip wrote: »

Yes we know that but giving out information about statue barred cases only make people running away from debt that much easier.

It's not exactly secret.

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act

chanz4

or they can take you to court within the period

macman

martinx26 wrote: »

Ok thanks for confirming this. So i don't see any point in paying it, even if i could.

I don't indent on using credit for the short term future.

That's handy, because they won't be giving you any.
So you definitely don't want a bank account, a utility account, a loan, a mortgage, or even a property rental in the next 6 years?

UsetheFORCE

goaroundnow wrote: »

There's plenty of, admittedly anecdotal, evidence that some lenders will once again do business with a previous defaulter.

I had a Capital One account, defaulted and statute barred, I once again have a Capital One.

I had TWO Barclaycards, both defaulted and statute barred, I once again have a Barclaycard as well as a proper Bank Account with Barclays.

I had an account with K&Co, same situation, I now have 3 SDG accounts.

I also had a Vodafone, same situation, I am once again with Vodafone.


I am not convinced that most lenders are bothered and will happily give you credit again irrespective of the past.



Very little sympathy for these companies, I offered to F&F these companies at 40%...the amount of charges, especially Capital One (turning £80 owed into £500 in six months) were not far off if not more than the offer. They turned the offer down so no issues with them getting sod all!

You-kip

rizla_king wrote: »

It's not exactly secret.

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act

Well I don't agree with rules about how to run away from paying back your debts especially with a banking crises only around corner again.

martinx26

macman wrote: »

That's handy, because they won't be giving you any.
So you definitely don't want a bank account, a utility account, a loan, a mortgage, or even a property rental in the next 6 years?

I already have bank accounts and 2 up to date credit cards. I already rent a property.

I can still improve my credit rating by using my existing cards sensibly. I don't anticipate in wanting a mortgage before 6 years, as i need to save up for a sizeable deposit, which will take years to achieve.

rizla_king

UsetheFORCE wrote: »

Very little sympathy for these companies, I offered to F&F these companies at 40%...the amount of charges, especially Capital One (turning £80 owed into £500 in six months) were not far off if not more than the offer. They turned the offer down so no issues with them getting sod all!

No sympathy at all here. Especially for debt collectors who have paid a few pence in the £ for a debt.

izools

martinx26 wrote: »

Ok thanks for confirming this. So i don't see any point in paying it, even if i could.

I don't indent on using credit for the short term future.

If that's your approach there's a high chance they'll turn in to CCJs.

The debt then becomes enforceable at law until the day you die, unless at some point you declare yourself bankrupt.

A friend of mine tried the same approach as you.

18 months later £200 a month went missing from his salary as the lender had obtained a garnishee order against him at court which he knew nothing about because all the papers had been sent to an address he hadn't lived at in a while.