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What happens to unsettled debts after 6 years?

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Hi everyone,

A couple of years ago, I was in a very abusive relationship which involved a large amount of financial control/blackmail. It has since gone through the courts and I’ve tried my best to get back on my feet since.

Fast forward to the end of 2019 - I had an outstanding Wonga loan from this relationship. The loan had gone in to default in 2018 and as I had moved and updated my address, I didn’t receive any of the correspondence. Wonga has ceased to accept payments and has said it will just stay like that on my credit file for the next 6 years.

I’m basically wondering what will happen after 6 years? Will Wonga completely disappear from my credit file in 2026 even though the debt hasn’t been settled? Or will just the ‘default’ be removed and it will still show that I owe them money?

I’m really confused and I don’t have anybody to ask about this stuff.

Thank you so much in advance.

Comments

  • Gaz83
    Gaz83 Posts: 4,047 Forumite
    1,000 Posts Combo Breaker
    You'll still owe the money, but it will disappear from your credit file. It'll become statue barred which means they can't pursue you through the courts for it. They can still write to you to request it (but usually don't), but they can't take any action to force you to pay it.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
  • Yes, the record will drop completely from your file six years from the default date (or to be accurate, the next time it’s updated, which could be a short while later.)

    Your numbers seem a bit off, though, if it defaulted in 2018 then it will go in 2024.
  • Yes sorry you’re totally right, I was counting from the time their company close. Thanks so much for your answer.
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