What happens to unsettled debts after 6 years?

lemonpeach

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.

Gaz83

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.

Jonathan_Kelvin

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.

lemonpeach

Yes sorry you’re totally right, I was counting from the time their company close. Thanks so much for your answer.