6 year debts

oneam

If a debt was defaulted at least 6 years ago does the debt disappear, no longer exists?


Even if I've been paying the DCA a minimum monthly repayment since the default?


If so how do you improve your credit rating?

[Deleted User]

No, it is still owed.

bengalknights

It doesnt disappear its just no longer enforceable for courts.

Gaz83

Unless you are in Scotland, in which case the debt is wiped out.

oneam

Thank you for the replies, I've also been doing more research, including credit checks and now understand a lot more about my options.


My checks show my credit is actually fair to good and only show 1 of my 4 defaulted debts, presumably as the other 3 defaulted over 6 years ago and the existing one only defaulted in 2013?


The only question I'm left with is how does my rating appear for mortgage applications. Do mortgage lenders see the old defaults?

bris

Wait, your paying the debt so it does exist, well it always existed but if your paying towards it then its not statute barred.


It will drop off your credit file though if that's what you mean.

oneam

So mortgage lenders or any other credit providers only see what you see on your credit score, they can't see old defaults that have dropped off even though they still exist?

Gaz83

oneam wrote: »

So mortgage lenders or any other credit providers only see what you see on your credit score, they can't see old defaults that have dropped off even though they still exist?

Lenders will only see what's on your credit file.

The exception to this is if you're applying to a lender you've borrowed from before, they will keep track of things older than 6 years internally.

Westminster

oneam wrote: »

So mortgage lenders or any other credit providers only see what you see on your credit score, they can't see old defaults that have dropped off even though they still exist?

It doesn't stop them asking if you have ever defaulted or entered into an arrangement to pay with a creditor. (They don't all ask this AFAIK but you should definitely not lie about this or any other question - take a look at https://www.nhunter.co.uk)

Also - if there is still an outstanding balance, even if the default was over 6 years ago and the account no longer appears on your credit files, the creditors are still able to pursue you through the courts to obtain a CCJ (which will then appear on your file for another 6 years unless you pay it within a month of the judgement).

The exception to this would be an account which is statute barred (where you have not acknowledged - i.e. paid anything - in 6 years)

oneam

thanks gaz83


how do I confirm the actual date of a default if I don't have the original paperwork, will this be included in an SAR?

Westminster

oneam wrote: »

thanks gaz83


how do I confirm the actual date of a default if I don't have the original paperwork, will this be included in an SAR?

You would find details on the SAR (which will likely cost you £10)

You will also see the default dates on your credit reference agency files (available for free from https://www.noddle.co.uk and https://www.clearscore.com and I think there is a free Experian source via a 30 day trial)