Credit Card - Default and future Payment
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sam550
Posts: 5 Forumite
in Credit cards
Hi all I hope someone can help.
The debt in question stems from a Capital One credit card, and due to unforeseen circumstances including job loss, my last payment was made in March 2018. Subsequently, I have had no further communication or transactions with Capital One.
I understand that a default was placed on the account in September 2018. However, since then, I have had minimal contact, with only a few emails received, which I deleted without opening.
Given that it has been over six years since my last payment and contact with Capital One, I am seeking clarification on whether the debt is now statute barred. Additionally, I am interested to know if the default and associated records will be removed from my credit file around September or October this year.
I would greatly appreciate any information or guidance you can provide regarding this matter.
Thank you for your attention to this inquiry.
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Comments
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Statute barred happens in E&W 6 years after the last time you acknowledged the debt, if you are certain you have not made any payment or acknowledgment since then, it would be barred now.
After 6 years yes the debt will disappear from your files, assuming they didn't sell on the debt and a debt buyer decides to do a CCJ at the last minute which is unlikely but not impossible.0 -
Thank you for your response- this is the snapshot of the default.0
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Default is consistent with the guidelines
Balance changing suggests maybe a debt buyer has it - who is the default now reported by? Balance not changing is part of the issue but acknowledging it would include communications where you did. Check there is no CCJ issued either then sit tight until September0 -
Account is still with capital one as I receive email every few months to check my statement but I delete them without opening….. no noise at all from any debt company and no CCJ either, will the balance be removed as well ? Thing is might be looking to buy a house at some point in January so don’t want any issues related to this.
thanks0 -
sam550 said:Account is still with capital one as I receive email every few months to check my statement but I delete them without opening….. no noise at all from any debt company and no CCJ either, will the balance be removed as well ? Thing is might be looking to buy a house at some point in January so don’t want any issues related to this.
thanks0 -
Hi All,
thank you everyone for great support, do I need to do anything for now or just sit tight and wait what happens in September?
thanks0 -
Capital one tend to hold on to the vast majority of defaulted accounts, instead of selling them on, uncertain as to the logic behind this but hey.
Nothing is going to happen in September except that entry will automatically fall off your credit report.
You might want to hang on to that screenshot to prove default date is accurate, just in case some debt purchasing company comes along in the future looking for a payday, if all stays the same, it will go statute barred on that date.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-letter1 -
Hi,
thank you so much for your response, will the debt be removed from credit file as well ? Currently it’s showing £1826 as current balance - that’ll be removed too along with default ?Thanks0 -
All reference to the debt will be removed after the 6 years is up yes, it'll take some time to update on the free searches but you can complain after the 6 years is up if not.0
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