credit file advice from Experian

neil9417

I have 2 defaulted accounts that will be 6 years old in December and Jan 16.
I'm unlikely to have the funds to pay them off completely.
My fear is that they will some how reaper on my credit file after December and January and will be on my record for a further 6 years hindering my chances or gaining a mortgage.

Is this possible?

rizla_king

Should not happen. Would be against DPA and ICO rules to do so.

neil9417

So the debt would disappear in affect? They haven't chased me for about 12 months.

DCFC79

I also say it shouldn't happen, they will just fall off when the 6 years is up. What makes you think they will reappear ?

rizla_king

Yes. Would not stop them going to court though and getting a CCJ if not statute barred.

neil9417

When I ask Credit expert they say you need to pay it off and state settled to be 100% sure it wont appear back on the record. I want to get a mortgage next year.

fermi

neil9417 wrote: »

When I ask Credit expert they say you need to pay it off and state settled to be 100% sure it wont appear back on the record.

That is horrifically incorrect advice. :eek: :eek: :eek:

neil9417

Ok thank you. Sounds like they are also working for the lenders.

fermi

I'm sure it will be put down to a 'lapse in training' or something like that.

fermi

https://forums.moneysavingexpert.com/discussion/4924427

On a discussion about student loans, but in this respect they do not differ from other accounts.

Experian_company_representative wrote: »

But, importantly, once the six year period expires the account cannot be registered as a new default again in the future, either by the original lender or a new company.

rizla_king

fermi wrote: »

That is horrifically incorrect advice. :eek: :eek: :eek:

I notice you tweeted the Experian rep and they havnt yet had the courage to come on this thread to explain their incorrect advice. :think: