Need help with a entry on my file

Gettingolder

I have a loan on my equifax file that shows a delinquent balance of £9500 but a balance today of £12500. The account started in 2004 and the history shows 4 years of 6s in red and it states that it is in arrears. I am not sure when the last payment was made. The question is surely this should have defaulted by now and if so maybe it should not be there in the first place. I have checked experian and it is not listed at all on there. I really could do with knowing what my next move should be?

matttye

You need to complain in writing to the company. They should've defaulted you 3-6 months after you last paid.

Tixy

Is the account shown in the name of the original creditor or a debt collector?

You say it shows 4 years of 6s - do you think you may have last paid around 4years ago? or do you think it may be longer ago than that?

To get the entry corrected you would need to write to the creditor, but if you do so, then contacting them is likely to restart debt collection activity, and possibly even court action if the debt is not statute barred.

Gettingolder

The amount shown is from the original creditor and not a debt collector. I believe that the last payment was in 2006 due to redundancy.

Gettingolder

I have contacted equifax, was that the right thing to do?

matttye

Gettingolder wrote: »

The amount shown is from the original creditor and not a debt collector. I believe that the last payment was in 2006 due to redundancy.

If you haven't paid towards or acknowledged the debt in writing since 2006, then it's statute barred which means it's unenforceable in court.

You should write a formal complaint to the company and send it recorded delivery. The entire account should be off you credit report by now, because even if you last paid the account in December 2006, and they defaulted you 6 months after your last payment in line with ICO guidance, then that would have dropped off in or around June 2013.

matttye

Gettingolder wrote: »

I have contacted equifax, was that the right thing to do?

In theory yes! But Equifax are useless

If the company says the information is valid, they won't do anything about it, and they usually take ages to sort any issues out.

Gettingolder

Thanks for your help, I will write to the company.