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Default drop off after 6 years
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manutd7676
Posts: 1 Newbie
So i got into financial trouble years back and got a default with a
Default of £345, recorded June 2018 (Reported until June 2024)
I started paying lowell back a while back monthly and my question is what happens come June when this drops off as i still paying?
also if i was to stop paying will this still drop off or will i get another default from lowell for same debt for another 6 years so confused ha ha?
Credit Card / Store Card this then went to lowell with a default raised as below
I started paying lowell back a while back monthly and my question is what happens come June when this drops off as i still paying?
also if i was to stop paying will this still drop off or will i get another default from lowell for same debt for another 6 years so confused ha ha?
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Comments
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The default marker and the whole account will drop off your credit record in June regardless of whether you pay or not."You've been reading SOS when it's just your clock reading 5:05 "0
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The original default would drop off but as you have been paying it, it's not statute barred so while the record will be updated, they could still come after you for the money and if they wished to, even register a CCJ against you (for another 6 years on your record), I wouldn't recommend it.manutd7676 said:So i got into financial trouble years back and got a default with aCredit Card / Store Card this then went to lowell with a default raised as belowDefault of £345, recorded June 2018 (Reported until June 2024)
I started paying lowell back a while back monthly and my question is what happens come June when this drops off as i still paying?
also if i was to stop paying will this still drop off or will i get another default from lowell for same debt for another 6 years so confused ha ha?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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Yes the entry may drop off your file but that has nothing to do with the enforceability of the debt, it remains valid and payable regardless.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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