Credit file record question...

djkav

Hi,

I friend of mine has 2 defaults (i think thats what they are) on their file. These were about 8 years ago, and remained unpaid. They're both around £5k each from the bank and bank charges escalation. They keep getting sold on to different debt collectors. As yet, no legal action nor bailiffs have been sent.

My friend wishes to know how long do the defaults remain on file. They mentioned something about disappearing after 6 years. Also, would it be possible to offer a token payment of something like £500 per debt to settle, as there is no way of clearing in full debt any time soon.

Thats all I know really, I don't really know how these default things work as I keep away from them.

Any advice is very appreciated

rizla_king

They should have gone 6 years after the default was first put on. If they haven't complain complain complain.

The_Boss

^ What rizla king said. End of thread really

djkav

Ok, so the unpaid defaults should have been wiped from the credit record after 6 years.

Does this mean that they stand a chance of getting their mortgage moved to a better rate/product?

Or, will the previous bad record still count against them?

Thanks again.

The_Boss

djkav wrote: »

Ok, so the unpaid defaults should have been wiped from the credit record after 6 years.

Does this mean that they stand a chance of getting their mortgage moved to a better rate/product?

Or, will the previous bad record still count against them?

Thanks again.

Do they have any ccjs?

djkav

The_Boss wrote: »

Do they have any ccjs?

Not to my knowledge they don't.

The_Boss

djkav wrote: »

Not to my knowledge they don't.

Ok, that helps. They may be asked about ccjs (or possibly past defaults) as part of the new mortage application so although not on credit file they'd be obligated to respond and it may affect how their application is assessed.