to many accounts in deafult-advice

ajay5021

Dear MSE

A friend of mine in 2008/9 had lost her job and therefore could not afford to pay ger cards and loans etc, and these acccounts are now in default status and the debt has been sold to debt collectors. She since the has been on a debt managment plan and paying small amount every month.

She wants to know what happens to the accounts that have been defaulted? do they come of her credit file after 6 years from the date of default?(which was 2008/9) even though whilst on a debt plan this debt could be not paid for another 6 to 8 years.

also if she stopped paying, can the debtors default her twice?

any advice would be very helpfull thanks:)

kelp7

As far as I understand it there's only one default date per debt, that is the date you defaulted on it and there's nothing more to say. Once you default on it, it is 6 years from that date before it drops off your record. The longer you acknowledge the debt by paying towards it the longer you put off the debt being statute barred.

happy_bunny_2

They drop off after 6 years from default date.

Not allowed to change the default date, but if sold to debt collectors they might and then needs a complaint to correct it.

Have all the DMP accounts defaulted?

Top tip is to keep a copy of the credit report showing the default date, in case of the above.

Tixy

Whilst they are not allowed to enter a new default if she stopped paying her creditors may take court action against her and she could end up with CCJs on her file (which would stay on for further 6years).