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Bank debt still showing 13 years later
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rustygirl85
Posts: 2 Newbie
Hello, just checked my credit report and there is an RBS account that I defaulted on in July 2010. It says account is open and default date is September 2022? Will this stay on my credit report forever? I thought it was removed after 6 years but not sure if bank debt is different. I have not received any letters for years or had any contact with them. Thank you
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No. From 6 years after default.rustygirl85 said:Will this stay on my credit report forever?
If you think it should have defaulted earlier, you need to advise them of that.1 -
When you say you defaulted in 2010 do you mean you stopped paying the required monthly payment? Or did you actually get a default notice back then? A debt should only be defaulted once and should be removed from your credit record six years after the default date. If this 2022 date is the only default notice then you can complain and ask that they backdate it."You've been reading SOS when it's just your clock reading 5:05 "1
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Thank you, I’ll be honest, I just opened a new account (stupid and young) and transferred my income and direct debits to the new account. Is that maybe why they class it as still open and it is staying on the report? And then they keep the default?
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An account should be defaulted after 2-3 missed contractual payments by the guidelines but this isn't mandatory. That said, I would ask them if they could back date it to 2010 if you did default back then as doing it so late makes little sense
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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It's not clear what account you're talking about.
If you have transactions in and out of the account, it will remain open.
You need to focus on whether it defaulted.0 -
The account is yours to close.rustygirl85 said:Thank you, I’ll be honest, I just opened a new account (stupid and young) and transferred my income and direct debits to the new account. Is that maybe why they class it as still open and it is staying on the report? And then they keep the default?0 -
It'll be on your file till 2028.
This is what happens when you walk away from a current account.1 -
Current accounts tend to stay open even if unused, for many years, unless you close them.
Only after a certain period of inactivity will a bank take action, this is how small debts can mount up due to interest and charges etc.
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