A little advice please

thrombosis

First of all Hi and thanks for accepting me to the forums.

I'm looking for a bit of advice really... I've been cleaning up my act in regards to my credit file for the past year.

Specifically I now have only one glaring debt that remains outstanding (i have a few defaults, but are fully satisfied and they will drop off when they do...)

The debt was in regards to Welcome Finance back in Nov 2007, I never made any payments on the (loan at the time) debt but have a default date of 02-01-2010..(the debt is a small but significant to me £2292)

Now, the default is, according to what I've read, going to drop off my credit file and become statute barred after 6 years of the default date.

My questions are:

a) What actually defines the default date, I believe I defaulted all the way back in 2008 when I didn't pay for almost a year.
b) At 5.5 years 'after' date of default, can this be taken to court to issue a CCJ?
c) Should I contact because the debts so old and offer a F&F settlement, or will this reset my default date? (can such a thing happen?)

The reason I ask is because I've been monitoring my credit file for a few months now, paying off and settling debts along the way, and have seen movement from the debt owners (MKDP LLP)... they've sent letters to a previous address of mine and have just 2 days ago marked the default with 'Gone Away'

Any insight, advice or help would be well appreciated,

Benjamin

Ebe_Scrooge

thrombosis wrote: »

The debt was in regards to Welcome Finance back in Nov 2007, I never made any payments on the (loan at the time) debt but have a default date of 02-01-2010..

Yep, that's fine. Borrow money, pay none of it back, and hope to hide behind legal loopholes.

Just don't come asking me to lend you money in the future.

It's pretty simple, pay what you owe and your credit history will be pristine. Default on debts and you're going to find it hard to get credit for the next few years.

thrombosis

I don't need a lesson in morality but thanks for the reply regardless. I know what I did back then was wrong.=(

I've managed to clear off and satisfy 8 other outstanding defaults ranging from £180 to 2.5k - these are due to drop off from between now and 2017 so I know I'm down in the dumps Credit wise for a long long while.

A lot of growing up these past few years in regards to Finance for me, I know I was a prat!

Anyway, I suppose I'll carry on searching to see if anyone could offer any advice on the few things I asked.

Thanks for your time Scrooge, still going to apply a thanks to you

Tixy

The default date is nothing to do with the date a debt becomes statute barred.

The debt would be statute barred after a period of 6 years with no payments or written acknowledgement from you and only if the creditor/debt collector doesn't start court proceedings in that time.

If you made no payments then the period would start from the date you first missed a payment (or if this was a secured debt for say a car the 6 years from when they repossessed and sold the vehicle).

A creditor could still commence court proceedings for a statute barred debt. You'd need to respond to those court papers with your defence being the debt is covered by the limitation act. If you didn't respond to court papers a CCJ would be granted by default. If a creditor didn't have your correct address then you could miss court papers being sent out.

Making payments/contacting them won't change the default date.