Defaults In Scotland

Kasabian83

Hi all,

Hopefully someone can help answer my question.

I have worked hard to get my credit standing back in shape over the last couple of years and I have one default left on my credit report that is over 4 years old.

I know the default is removed after 5 years and I'm under the impression that this is 5 years since a payment or any acknowledgment of the debt was last made.

Is this correct? As I'd like it to be dropping off my credit report soon, as it was over a year after I stopped paying that the company actually recorded it as a default.

Thanks in advance for any help.

sourcrates

Hi,

You are mixing up defaults with the Limitations act.

Doesnt matter where you are in the United Kingdom, defaults stay on your file for 6 years.

The limitations act in Scotland, for simple contract debts is 5 years.