Default time scale

Rob_Mogs

boo_star wrote: »

It's worth noting that although a default is due to drop off on x date, some DCA's *ahem* "mistakenly" change the default date.

Worth keeping a copy of the date the default shows at now and a copy of your file showing the date it currently has, just in case.

Debt isn't with a DCA its still with Black Horse, and I have letters From FOS and BH stating the first default date, so should be okay on that front.

boo_star

Rob_Mogs wrote: »

Debt isn't with a DCA its still with Black Horse, and I have letters From FOS and BH stating the first default date, so should be okay on that front.

Lenders do occasionally do it, just warning you to make sure you have a record, just in case they have a "computer problem"

boo_star

Rob_Mogs wrote: »

Theres not been any interest added on since 2010, the interest of the whole borrowed amount is included in the current amount outstanding, (they told me they won't be adding interest)



what is meant by 'time barred'?

Statute barred.

By the Limitation Act 1980 Section 5

5 Time limit for actions founded on simple contract.

An action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.

Thrugelmir

Rob_Mogs wrote: »

Because from May next year potential lenders won't even see the money is outstanding? is that correct?

The lender itself will be fully aware. So applying with any member of the Lloyds banking group may not be successful. Lenders like elephants have long memories.

Rob_Mogs

Thrugelmir wrote: »

The lender itself will be fully aware. So applying with any member of the Lloyds banking group may not be successful. Lenders like elephants have long memories.

That may be the case, but I'll never get anything via Lloyds group again whether it's on my credit file or not really.