Advice please :) A (default) account will be removed from your account.

itstricky

I got a notification from Clear score stating that an account (credit card) in default will be removed from my next report.

The date of default is stated as 03 Sept 2019 on Clear score but I feel like it's older than that. 

 I also got a letter from Link financial this week stating; 

"Despite our efforts to collect this sum through communication & negotiation the balance remains unpaid."

"We give you 14 days notice that the count will be passed to "law firm" without further reference to you. If you want to avoid this course of action contact us urgently."

Is this debt about to become statute barred and this is Link financials last attempt to collect or what am I looking at here? Any advice much appreciated!

Mark_d

Open accounts that are not in default will show up to 6 years of financial history until settled and closed, financial history older than 6 years will automatically disappear from your credit report. An account in default will show for 6 years from the date it defaulted, after which it will no longer appear on your credit report.

It does sound like this debt will be statute barred.

itstricky

I wonder why I have a notification stating that it will be removed from my credit file?

Mark_d

How does the debt appear on your credit file?  Does is show that every monthly payment has been late or in default since 2019?  If the credit file does not show the debt (this can be the case for various reasons) then the record disappears after 6 years

itstricky

It's showing defaulted from 2019. 

Mark_d

itstricky said:

It's showing defaulted from 2019. 

That's looking good then.  Very soon it'll drop off and the courts can't touch you

sourcrates

itstricky said:

I got a notification from Clear score stating that an account (credit card) in default will be removed from my next report.

The date of default is stated as 03 Sept 2019 on Clear score but I feel like it's older than that. 

It won`t be statute barred until 3rd September 2025 then.

Alerts from clear score should be taken with a pinch of salt, as they tend to be quite generic in nature.

Your debt is live and collectable for another 12 months, and it sounds like Link are getting nervous by passing it to their tame solicitor, this "law firm" will likely send you an LBA, or may go straight to a claim form.

So its up to you how you want to proceed with this.

itstricky

Hi all

So my new clear score credit report generated and I now have the notification "Bank default agreement removed". It's still showing on Credit Karma. Any ideas? Tia.

fatbelly

You can only react tovwhat happens.

If they send a preaction letter, you have 30 days to request further info

If they send a court claim form you have 28+5 days to put in a defence, assuming you acknowledge service