Will my loan fall off my credit file?

klameer

Hi,
I would really appreciate some help on this.
I took out a loan around October 2008 from Santander (£25K). I made regular payments till April 2010 but sadly my career took a nose dive and I was unable to continue payments.
I have not made payments since and I was unable to get any credit anywhere as a result so I never looked at my credit file.
Since then I have had various communications from the bank as well as letters from various debt collection agencies (around 10 different ones) saying that they have taken over the loan.
I was hoping that after 6 years the debt would fall off my credit file. Yesterday I got a free credit report from Noddle and it seems that every month I am defaulting on that debt.
My question is, since the debt is now 6 years old, will it and the 4 years worth of defaults magically disappear, or will this follow me around for the rest of my life? The defaults are updated every month.

Any help will me much appreciated.

krem

molerat

The 6 years will commence from the last payment or when the account is defaulted by the provider so the absolute earliest it can disappear is after April 2016

iolanthe07

This is a significant debt, so expect to receive a CCJ before 2016. If that happens, the Statute Barred cop out will not apply.

National_Debtline

Hi klameer

An account can only be defaulted once, and that default should drop off six years after it is recorded. So as molerat says this debt's presence on your file is likely to last until April 2016 at earliest.

Dennis
@natdebtline