Jump to content


Settled default


Sue72
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4162 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

My daughter has settled loans that were defaulted for three years. Please can someone confirm when these will be removed from her credit record? Six years from default or six years from settlement?

Link to post
Share on other sites

Yes six years from the default date paid or not, but this may NOT mean the debts are statute barred, which means there must have been no payment or written acknowledgmment in 6 clear years.

 

If the conditions above have been met then the debt is not enforceable in court, but exists and is still collectable.

 

The OFT guidance on Debt Collextion 2003/2012 states '' it is unfair to continue yo press for payment (of a SB debt) once the DEBTOR has informed the creditor in writting that the debt statute barred and they will not be paying''.

 

Once the defaults are removed one can then rebuild a new credit profile over a number of years possibly 3 or more, the removal of defaults does not automatically improve ''credit worthiness'' prospective lenders of all types increasingly look for 3-5 years good++ credit management.

 

Check credit reference files regularly.

Avoid making a lot of credit apps in a short period of time.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites

Her debts have all been settled so she isn't worried about them being statute barred. She is now taking steps to improve her record so that by the time the settled defaults drop off, she will have three years of responsible behaviour showing.

Link to post
Share on other sites

Well that's really good to hear, so many times I end up dealing with the same person in the same situation again and again, so the very bet of luck to her and may she be successful!!!

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites

check them for reclaiming too before they go!

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...