Experian - where have my debts gone?!

[M1sterP]

To give a very brief overview, I was left in a large amount of debt from a previous relationship and all manner of burying my head in the sand etc. left me in a bit of trouble. I owed around £50,000 and had 2 CCJs as a result.

 

This was around 2002/3 and since then (and after LOTS of stress dealing with DCAs) I got payment plans sorted out and have been paying off the debts ever since. Last time I checked back in late 2008 I owed around £22,000ish. The only bank account I could get was a Halifax Cardcash (no overdraft, Visa Electron etc).

 

A few weeks back while logged into my bank account I noticed a link to "upgrade account". I'd tried this a few times in the past, in an attempt to get a 'normal' bank account and every time I'd been rejected. Anyway, much to my surprise, I was accepted and now have a Reward Current Account with a normal Visa Debit card. Didn't apply for an overdraft!

 

Shortly afterwards I noticed an advert for Capital One's high interest credit card which was being sold with the lure of repairing a bad credit score. I applied for one and hey presto was accepted - and given a £1,000 limit.

 

Today out of curiosity I thought I'd go to Experian Credit Expert site to check my credit report / score. Only when I went to my record, it appears that all my previous loans have disappeared! Now as far as I'm aware I should have details of debts with Link (ba$tards), Hillesden, Restons, Aktiv, and Barclays - relating to former loans / cards etc.

 

Two of these debts resulted in CCJs - Restons (from a loan with HFC Bank) and Barclays. The Reston one was issued back end of 2002 and the Barclays one January 2004. I'd read that CCJs only stay on your record for 6 years and the Reston one has disappeared. The Barclays one still shows. Now I'm sure I still owe money to Restons (I'm still paying them!) but has it gone because the CCJ was issued over 6 years ago?

 

And what of the other debts? I do still owe money to Aktiv, definitely to Link, and to Hillesden too. But whereas before I could see how much was left owed to them, now they're gone from my record. Okay so they're over 6 years old these debts, but I do still owe money so where have they gone?

 

Sorry this is a long one, but can anyone tell me why this might have happened?

Edited August 26, 2009 by M1sterP

[allswell]

all loans and debts drop off your credit file after 6 years.

[M1sterP]

So my credit file doesn't show I have debts in my name as they're more than 6 years old? Seems very strange if you ask me - surely if you're in debt with someone it should show on your credit file.

 

Of course I'm not going to complain if it means these debts don't show up - after all I'd imagine it improves my credit score if they don't show. Just makes it hard to keep track of who I owe money to and how much.

[djfr1]

Hi,

 

Funny..I have been trying to get an answer for this question for ages, and today I have emailed Equifax but no response yet..

I have 2 x accounts in default that are being dealt with via DMP, but the 6 years since the original default is up on them both next year..I want to know what happens, as the accounts are now controlled by the debt recovery agencies and are obviously still active, and like you I can see the outstanding debt reducing each month...Are they really wiped? As seems to be the case with you, or what?? If so..happy days!! as i will start to put my life back together..Yes, I will carry on paying..but what a relief it would be..

[M1sterP]

Hi,

 

Funny..I have been trying to get an answer for this question for ages, and today I have emailed Equifax but no response yet..

I have 2 x accounts in default that are being dealt with via DMP, but the 6 years since the original default is up on them both next year..I want to know what happens, as the accounts are now controlled by the debt recovery agencies and are obviously still active, and like you I can see the outstanding debt reducing each month...Are they really wiped? As seems to be the case with you, or what?? If so..happy days!! as i will start to put my life back together..Yes, I will carry on paying..but what a relief it would be..

 

 

Well I owe money to 4 DCAs and I'm still paying towards these debts, but the loans / defaults are over 6 years old so they've officially disappeared from my credit record. Strange!

 

I'm assuming if I stop paying then the DCAs may try and take matters further, maybe enforcing through a CCJ so I don't intend to stop - however, according to my credit file I now have no debt with these people.... just no record at all!

 

I have two CCJs, one of which still shows on my file as it was enforced in January 2004.... so in a few months time when January 2010 rolls around, I'm assuming that one will disappear too.

 

Amazing to think all this mess with my debts is 6/7 years in the past. I went through absolute hell due to nasty, lying DCAs and owed a huge amount of money. Now with these records dropping off my file and the debts coming down all the time, the light at the end of the tunnel is getting bigger all the time.

[M1sterP]

Just as an update on this, my second CCJ which is still going has now disappeared from my credit record (the 6 years were up last week). So if anyone looks now, my credit score has gone up to 999 even though I am paying off 2 CCJs and still have another three debts being paid off through DMPs. Just because all the debts are more than 6 years old, nobody would even know they're there.... apart from the ****** DCAs that is!

 

Strange situation to be in, but at least it's meant recently that I've been able to get a 'normal' bank account!

[Secretjay]

Hi M1sterP,

 

sorry to bring up an old post, but I've recently been asking this question about defaults.

 

A couple of my accounts were defaulted Jan 2006, I was wondering what would happen after 6 years when the default dropped off but I still had a balance on them.

 

You've said your account disappearred altogether, was it just CCJ's you had or did you have defaulted accounts aswell which dropped off?

 

Great news for you anyway and thanks for updating your post, gives me hope as it could take me many, many years to clear off my balance and I was thinking my Credit File was ruined for life.

 

Sjay

[Dizzle]

Hi M1sterP,

 

sorry to bring up an old post, but I've recently been asking this question about defaults.

 

A couple of my accounts were defaulted Jan 2006, I was wondering what would happen after 6 years when the default dropped off but I still had a balance on them.

 

You've said your account disappearred altogether, was it just CCJ's you had or did you have defaulted accounts aswell which dropped off?

 

Great news for you anyway and thanks for updating your post, gives me hope as it could take me many, many years to clear off my balance and I was thinking my Credit File was ruined for life.

 

Sjay

 

They drop off your credit file, though you do still owe any remaining balance.

[Secretjay]

Thanks Dizzle, I understand the balance still exists just glad it won't show forever on my Credit file as I slowly but surely pay them off.