Credit File - Default after sale of debt

Gibson_67

Hi there, hoping someone can advise on this.
I failed to pay a debt to direct line some years ago, approx 5 and half, and the debt was sold on to a company called Ident Securities.

I am now only managing to get on my feet again and have taken an equifax credit report which shows this as being in default to Ident but the dates only start from 3 years ago.

I had some advice that in Scotland the debt is considered statute barred after 5 years but this debt is only showing defaulted from 3 years ago when IDent bought it from DL. SHould this not show as default from time I lost job and couldn't make payments?

Appreciate any advice

Buzby

It all depends.... Did DL ever default you? If so, it cannot be replaced with another of a different date. However, if there was no default, and the debt was sold on as long as you did not pay when they requested you to (can you recall if they did?) the default is valid as it forms the basis of a new arrangement.

If then did not contact you, you could argue for it to be removed but you would be required to pay what was deemed owed. If you didn't 't they may try to restart the default and it might be difficult to argue that they cannot.

Whether something is Statute a Barred means only one thing - you cannot be hauled into the Sheriff Court and be forced to pay. It had absolutely nothing to do with what a CRA does. As these are English firms, they follow English Law, and as such any blight on your credit file will automatically remain for the 6 years stipulated as 'reasonable' and it would take considerable action on your part to seek a removal of the last 12 months.

This may change following an Indy Yes vote - but too far away to make any difference to your current situation.

nottoolate

if they sold it because you hadnt paid then the date it was sold is the very latest date they can default it on. may need to be even earlier if your payment relationship with direct line broke down before then. complain to them as the default date is not accurate.

Gibson_67

Thanks for both your replies.

I have had no contact with either DL or Ident since I couldn't meet my payments over 5 years ago. This is the first I have saw my credit file (i understand that the records stay on there for 6 years thanks for that answer)
I only have the default as Ident, no other.

My reason for asking is if it was recorded from the original default date way back over 5 years ago it would mean it should slip of my credit report soon, as it stands with the Ident default, it will be 3 years, whether I could pay it off or not.

nottoolate

no way ever in a million years can it be justified defaulting it 2 years after then. complain. take them to the fos if need be.

Gibson_67

Thanks again. So just so I am explaining it 100% this was the timeline(s)

DL loan - I could not make payments and last payment was in Sept 2008
No contact with DL since

Ident have purchase debt in 2011 by the looks of it
no contact with them at all on my end (was told to not respond to them at the time by an adviser)

Now that I have ran my credit report, I have a default for IDEM CAPITAL SECURITIES LTD which started 29 months ago.

I have not spoke to anyone at DL or Ident or corresponded in any way.

On that basis should I look to have credit file updated accordingly, if so, who do I contact to get guidance or answers.

thanks so much for helping.

JKSandy

From what I read on these threads 6 months after last payment is when defaults are usually applied.

I would argue that it should be around March 2009 that it should have been applied (which would mean it would be due to drop off in March 2015).

Unles you contacted them and acknowledged the debt or had may any payments after this date, then the clock starts again.

You can also complain to the Information Commissioner (ICO), however both them and the FOS would expect you to take steps to resolve with the creditor.

Gibson_67

JKSandy wrote: »

From what I read on these threads 6 months after last payment is when defaults are usually applied.

I would argue that it should be around March 2009 that it should have been applied (which would mean it would be due to drop off in March 2015).

Unles you contacted them and acknowledged the debt or had may any payments after this date, then the clock starts again.

You can also complain to the Information Commissioner (ICO), however both them and the FOS would expect you to take steps to resolve with the creditor.

Not had any contact or made any payment since 2009, with either DL or Ident.

So would I need to contact Ident or DL?