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Default on file after 5 years?
stewieohhh
Posts: 2 Newbie
Hi guys,
New here!
I have a default on my credit file that is from:
Date of default 02/05/2008
I live in Scotland and my understanding is that after 5 years this gets removed from your credit file, am I wrong?
New here!
I have a default on my credit file that is from:
Date of default 02/05/2008
I live in Scotland and my understanding is that after 5 years this gets removed from your credit file, am I wrong?
0
Comments
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No, it is 6 years in Scotland. Same as the rest of the UK.
The defaulted account will be removed from your report in 2014.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
I thought after 5 years they were unable to chase for the money? Am I incorrect in that thinking aswell?0
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stewieohhh wrote: »I thought after 5 years they were unable to chase for the money? Am I incorrect in that thinking aswell?
Probably not as the limitation period in Scotland for most debts is 5 years.
Please read this link --> http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act
But it has nothing to do with how long defaulted accounts stay on your credit files. They are separate issues, falling under different legislation/guidelines.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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