Defaults and decree SCOTLAND

Bh1989

Hi guys I'm a newbie and looking for a little help.

I have very bad debt and about 9 defaults and a decree.

Now before people start criticising this was unavoidable as I was in a very high paying job and got made redundant and did not get any pay as I was there less than 2 years.

I was out of work for 2 years and finally I have got a job where I can start paying these back.

First of all after 5 years am I correct in saying everything will disappear from the defaults date? And does this count even if the defaults are still unpaid ?

I want to rebuild my credit and I am looking for the best advice on how to do so.

Please if anyone can help me I would be so grateful.

sourcrates

Five years in Scotland yes, and yes, also if not paid or acknowledged for five years, debts would possibly be statute barred, not the debt with the decree though.

rising_from_the_ashes

sourcrates wrote: »

Five years in Scotland yes,

No - sorry that's incorrect - defaults (and pretty much everything else) remain on your file for 6 years in Scotland


They are considered extinquished after 5 years if no contact has been made / no payments made etc



This might be of help https://www.nationaldebtline.org/S/factsheets/Pages/12%20SCOT%20Credit%20reference%20agencies%20and%20credit%20reports/Page-03.aspx

sourcrates

rising_from_the_ashes wrote: »

Sorry defaults remain on your file for 6 years in Scotland


They are considered extinquished after 5 years if no contact has been made / no payments made etc



This might be of help https://www.nationaldebtline.org/S/factsheets/Pages/12%20SCOT%20Credit%20reference%20agencies%20and%20credit%20reports/Page-03.aspx

Yes you are correct, I was confusing defaults with the limitations act 🙈