Credit File Request Confusion

Donedoingdebt

No, I don't think it's worth you asking for them again.
1/ If you have lived at your present address for 6 years or more, then you are not obliged to do so.
2/ If you have not lived at your present address for 6 years & you have
taken out credit at any previous addresses in that time, or before, then your creditor will usually notify the CRAs of any change after you have told them & these addresses will then become linked to you.

I agree that if a debt has been passed over to a DCA, then usually a default to the original contract has occurred. However, that does not mean that a default is automatically issued. That, I believe, is down to company policy.
No, a DCA cannot start issuing their own defaults once an account has been defaulted by the original creditor.
Are you absolutely sure that these debts are only 4 to 5 years old & have not actually slipped over the 6 years period which would explain why they're not showing on your files?

zand108

Donedoingdebt wrote: »

No, I don't think it's worth you asking for them again.
1/ If you have lived at your present address for 6 years or more, then you are not obliged to do so.
2/ If you have not lived at your present address for 6 years & you have
taken out credit at any previous addresses in that time, or before, then your creditor will usually notify the CRAs of any change after you have told them & these addresses will then become linked to you.

I agree that if a debt has been passed over to a DCA, then usually a default to the original contract has occurred. However, that does not mean that a default is automatically issued. That, I believe, is down to company policy.
No, a DCA cannot start issuing their own defaults once an account has been defaulted by the original creditor.
Are you absolutely sure that these debts are only 4 to 5 years old & have not actually slipped over the 6 years period which would explain why they're not showing on your files?

One of my debts is with the student loans company I was on the old system where you had to return a form declaring that you weren't earning enough money to pay them back each year. I was overseas for several months and so didn't return the form so the SLC sent me a letter saying that as I had not returned the form I had effectively defaulted on the loan and the entire debt was passed on to a DCA who demanded immediate payment. I couldn't pay very much and the DCA wouldn't listen after several weeks of degredation and abuse I just stopped responding.

The loan would have been declared in default sometime in 2003/2004.
Even now I am getting invoices from SLC informing me that my laon is in arrears as well as letters from DCAs demanding payment for them so they are aware of my current address.

Similarly the other debts are for an overdraft and 2 credit cards which would have defaulted about the same time but there is nothing on my records I havent lived at any other address since mid 2002.

fermi

zand108 wrote: »

One of my debts is with the student loans company I was on the old system where you had to return a form declaring that you weren't earning enough money to pay them back each year. I was overseas for several months and so didn't return the form so the SLC sent me a letter saying that as I had not returned the form I had effectively defaulted on the loan and the entire debt was passed on to a DCA who demanded immediate payment. I couldn't pay very much and the DCA wouldn't listen after several weeks of degredation and abuse I just stopped responding.

The loan would have been declared in default sometime in 2003/2004.
Even now I am getting invoices from SLC informing me that my laon is in arrears as well as letters from DCAs demanding payment for them so they are aware of my current address.

The SLC don't report account details or defaults to the Credit Reference Agencies as a matter of policy.

They also don't assign (sell) debts to DCA's. Instead they may have a DCA acting on their behalf, but the debt stays owned by SLC.
They even have their own "in house" operation "Smith Lawson & Company" (SLC ). They are part of the Student Loans Company.

The only way a SLC loan will make it onto you Credit Files is if they take out a CCJ for the debt. That is a matter of public record so will be recorded on your CRF.

zand108

fermi wrote: »

The SLC don't report account details or defaults to the Credit Reference Agencies as a matter of policy.

They also don't assign (sell) debts to DCA's. Instead they may have a DCA acting on their behalf, but the debt stays owned by SLC.
They even have their own "in house" operation "Smith Lawson & Company" (SLC ). They are part of the Student Loans Company.

The only way a SLC loan will make it onto you Credit Files is if they take out a CCJ for the debt. That is a matter of public record so will be recorded on your CRF.

Thanks for the reply!!!

That is very interesting. As a defasult was never lodged against me does that then mean that the 6 year statute bar does not apply in this instance.

I have no intention of trying to dodge this debt. I ask this question out of interest only.

zand108

fermi wrote: »

The SLC don't report account details or defaults to the Credit Reference Agencies as a matter of policy.

They also don't assign (sell) debts to DCA's. Instead they may have a DCA acting on their behalf, but the debt stays owned by SLC.
They even have their own "in house" operation "Smith Lawson & Company" (SLC ). They are part of the Student Loans Company.

The only way a SLC loan will make it onto you Credit Files is if they take out a CCJ for the debt. That is a matter of public record so will be recorded on your CRF.

Also if I might ask since it has already been almost 4 years without any court action under what circumstances do SLC usually start legal proceedings???

fermi

The Limitation Act 1980 can apply the the "old style" student loans, so they can in theory end up "Statute Barred" if no CCJ is taken out.

The issue of a default has no bearing on whether a debt can become "Statute Barred".

All that matters for a debt to become "Statute Barred" is that you have not acknowledged the debt in writing by yourself or by making a payment for a period of six years.

But, deferment could count as acknowledgement.

See: Factsheet | Liability for Debts and the Limitation Act

Student loans

Student loan agreements are simple contracts and this gives the Student Loans Company (SLC) six years from the date you last paid or acknowledged the debt to go to court to enforce the agreement. There are two sorts of student loans and different rules apply depending upon when you took out the loan.

Old style student loans
Old style or 'mortgage' student loans are consumer credit agreements. Payments cannot automatically be deducted from your wages. The SLC has to go to court before they can enforce the debt against you. This means that the Limitation Act can apply if you have not paid or acknowledged the debt for over six years.

WARNINGAsking for the loan to be deferred could count as acknowledging the debt and start time running again.

New style student loans
From September 1998 new style or 'income contingent' student loans include rules to say that repayments are automatically deducted directly from your wages or through your tax return if you are self-employed. This means that the SLC are still allowed to take money from your wages for a loan over six years old as they do not have to go to court to do so.

zand108

fermi wrote: »

The Limitation Act 1980 can apply the the "old style" student loans, so they can in theory end up "Statute Barred" if no CCJ is taken out.

The issue of a default has no bearing on whether a debt can become "Statute Barred".

All that matters for a debt to become "Statute Barred" is that you have not acknowledged the debt in writing by yourself or by making a payment for a period of six years.

But, deferment could count as acknowledgement.

See: Factsheet | Liability for Debts and the Limitation Act

Would I be right in thinking that as I havn't spoken to them since 2004. then it is "highly likely" that sometime within the next 2 years they will instigate legal proceedings as a means of preventing the debt from becoming statute barred???