Debts disappearing from Credit Report

Hi all,

Long story short, back in around 2012 I owed approximately £12k on various loans, credit cards etc. I have basically stuck my head in the sand and ignored all warnings and letters, aside from a CCJ which I paid in full back in 2017. I’ve just been to check my credit report today and all I’m left with is 2 debts totalling around £500. Haven’t heard from any other of my creditors in about a year. Is this normal, do I still need to follow up with them? Feel like I’m carrying a huge weight and would like to pay them off if I need to (on a DMP) but don’t know if they are still valid as they are from so long ago? 

Thanks.

Replies

  • sourcratessourcrates Forumite, Board Guide
    24.2K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    6 years after default everything drops off your credit file.
    If you have not paid or acknowledged any of these debts in writing, since defaulting, for 6 years or more, they become statute barred under sec 5, Limitation act 1980.
    This basically means if anyone writes to you asking for payment, your response would be to send the statute barred letter to them, it remains a full defense to any court action, but you must inform them of the debts status, as if you don`t respond to a court claim, a CCJ can still be obtained by default.
    So never assume anything, and always respond to written correspondance.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
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    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    "I don`t trust Bankers, I don`t trust Banks, and I don`t trust you.........Private Frazer".
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • fatbellyfatbelly Forumite
    16.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
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    And for the two debts still showing, what are their default dates?
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