Credit report showing "default/ended" as loan status, meaning of this? Unpaid for two years

Bossofmoney

sourcrates said:

The law is slightly different in Scotland in that once 5 years have passed, the debt is extinguished in law, it no longer exists, and you cannot be chased for it.
In England and Wales the law is not as clear, the limitation period is 6 years, and once that passes, the debt still exists, but a creditor is unable to take legal action to recover the debt.
Are you having trouble making ends meet just now ?

I have 3,500 in the bank and 7,000 to pay out by the end of September so yes you could say I’m having trouble making ends meet. I do laugh at the people who get bothered on Internet forums. Came here for advice and received it so thank you very much at least you’re mature enough to answer my questions. 

Not breaking any law by letting the 15k drop off and dealing with the rest so that is my plan of action otherwise I’d be aswel go bankrupt. At least this way at least some gets paid. 

Bossofmoney

D3xt3r5L4b said:

My reply about paying the money you morally owe was removed it seems. 

Does this board have no morals? Or is it just about playing the game and cheating the system?

I didn’t remove it so you’ll have to ask the admin. 

Cheating the system? Not breaking any laws. Loss of a 75k a year job resulting in credit couldn’t be paid back. Not that I need to explain myself to someone who sounds extremely bitter.

sourcrates

Bossofmoney said:

sourcrates said:

The law is slightly different in Scotland in that once 5 years have passed, the debt is extinguished in law, it no longer exists, and you cannot be chased for it.
In England and Wales the law is not as clear, the limitation period is 6 years, and once that passes, the debt still exists, but a creditor is unable to take legal action to recover the debt.
Are you having trouble making ends meet just now ?

I have 3,500 in the bank and 7,000 to pay out by the end of September so yes you could say I’m having trouble making ends meet. I do laugh at the people who get bothered on Internet forums. Came here for advice and received it so thank you very much at least you’re mature enough to answer my questions. 

Not breaking any law by letting the 15k drop off and dealing with the rest so that is my plan of action otherwise I’d be aswel go bankrupt. At least this way at least some gets paid. 

A lot of people find themselves in situations where they cannot meet there financial obligations, and for a host of different reasons.

Most hate not been able to pay what they owe, and not paying doesn’t sit easy with some, but If paying your creditors means not eating or forgoing the roof over your head then as these are all unsecured non priority debts, your priority is yourself, and your well-being always comes first.

D3xt3r5L4b

Bossofmoney said:

D3xt3r5L4b said:

My reply about paying the money you morally owe was removed it seems. 

Does this board have no morals? Or is it just about playing the game and cheating the system?

I didn’t remove it so you’ll have to ask the admin. 

Cheating the system? Not breaking any laws. Loss of a 75k a year job resulting in credit couldn’t be paid back. Not that I need to explain myself to someone who sounds extremely bitter.

On £75k you should have substantial savings etc. 

upsidedownpancake

D3xt3r5L4b said:

My reply about paying the money you morally owe was removed it seems. 

Does this board have no morals? Or is it just about playing the game and cheating the system?

It's just about playing he game and cheating the system.

It's become a joke.

adamp87

D3xt3r5L4b said:

My reply about paying the money you morally owe was removed it seems. 

Does this board have no morals? Or is it just about playing the game and cheating the system?

If they end up SB or don’t have enforceable agreements it’s wise of OP to use that to his/her advantage 

D3xt3r5L4b

adamp87 said:

D3xt3r5L4b said:

My reply about paying the money you morally owe was removed it seems. 

Does this board have no morals? Or is it just about playing the game and cheating the system?

If they end up SB or don’t have enforceable agreements it’s wise of OP to use that to his/her advantage 

They should clear them before it gets to that stage

upsidedownpancake

adamp87 said:

D3xt3r5L4b said:

My reply about paying the money you morally owe was removed it seems. 

Does this board have no morals? Or is it just about playing the game and cheating the system?

If they end up SB or don’t have enforceable agreements it’s wise of OP to use that to his/her advantage 

But right now they don't.  It really seems like the OP just thinks that if they avoid the debts completely they'll just go away.  That might happen, or they might end up with a CCJ.  And even then, encouraging people to welch on debts seems like poor form for any forum.

sleepyjones

Thanks @sourcrates, I did not realise that debts in Scotland "Go away" completely after 5 years.

Bossofmoney

upsidedownpancake said:

D3xt3r5L4b said:

My reply about paying the money you morally owe was removed it seems. 

Does this board have no morals? Or is it just about playing the game and cheating the system?

It's just about playing he game and cheating the system.

It's become a joke.

So the flaw is in the system not the people in it, not my fault.