CC Default Advice requested

rammy1964

Hi,
I'm posting here in case anyone can please assist me.

I have two credit cards that I have defaulted on back in early 2012, as a result of major changes in my financial circumstances at the time. These accounts show on my credit report as being in default from Jan 2012 onwards, including showing as being in default up to and including August 2015.

In order to minimise the length of time these are impacting me is there something I need to do to stop the defaults from being ongoing? I was under the impression that they would show for 6 years from the date of initial default and therefore would come off in Jan 2017, but it is beginning to look to me like the default showing from August 2015 will still be visible in 2021!!

Was there something I needed to have done back in 2012 in order to protect my position?

Any help would be appreciated, thanks.

Rammy

QuietOne

If the default was registered on jan 2012 then it will stay on there until jan 2018. It stays on your record for 6 after the first registered default marker. It's not an ongoing thing. Even if it shows a D or whatever every month, it will still drop off 6 years after the first default marker.

MisterBaxter

As stated by QuietOne the defaults will drop off your file 6 years after they were first recorded although until then they will keep being recorded as accounts in default. If they are passed on to a debt collector the default date remains the same but you do have to watch this one as some debt collectors will try to re-register with a later default date.

If you haven't cleared the debts there is still the possibility that the companies you owe money to, or any debt collectors that pick up the debt could take the matter to court and get a CCJ. The CCJ would stay on you file for 6 years after the date it was obtained so in theory if a CCJ was obtained 1 day before the debt became statutory barred (assuming you haven't been making payments or acknowledged the debt) it could stay on your file until Jan 2024.