Statute barred - 6 years from last payment or default date?

[Poolio]

Just taking stock of all my finances and reviewing my situation

 

I have a few debts that should be statute barred shortly.

 

I can't find a definitive answer

 

but say for example

 

a debt for which the last payment was made March 2008

but the default wasn't registered until August 2008,

when will the debt be statute barred and drop off my credit file?

 

Is it 6 years from the last payment

or 6 years from the date of the default?

 

I suppose it is safer to assume the latter date?

[citizenB]

Advice previously given by CAG and used in court was that the statute barred clock started ticking from when a payment became due and was missed. So that would have meant that your SB clock started ticking in April 2008.

 

The creditor would not be able to take any action until after the first payment was MISSED.

 

Example if a payment was due in April and you didnt make it, then that becomes the cause of action. The creditor COULD start the process required by the CCA 1974 the day after.. The fact that the Creditor did not issue the Default notice until August is IMHO of no consequence.

 

Issue Default Notice

You dont remedy notice within time

They could then continue with the process of progressing to terminating the account - litigation etc.

 

There are one or two threads that have been debating this till my head spins.

[BRIGADIER2JCS]

That advice is absolutely correct!!

[dx100uk]

there is no link between SB date ,

default date

and it falling from your CRA file.

 

accounts will vanish TOTALLY from your cra file on the defaults 6th birthday

regardless to paid or not or SB'd or not.

 

dx