hoist and old catalogue debt on credit file

[alex80beck]

I have recently checked my credit history through equifax.

 

upon getting the report i noticed i have an outstanding debt from 2008.

 

I cannot find who the debt is for and this is going to effect my credit score.

 

it says the default was 11/2008 but updated in 2011,

..will this drop off in 11/2014 or in 2017? ( please see attached picture )

 

if i cannot find out how to repay it what can i do..any advide is very helpful.

Alex

[Guest mojomillyjoe]

hi my friend I can only tell you what I think so anyone please correct me if I am wrong. but if you have not acknowledge this debt or made any payments then it will be statue barred 6 years from default date 11/2008. as for the update in 2011 thats just what it is, a update of there records, and I would contact Equifax to find out who put the debt there ! hope this helps

[twoman]

Hi,

Have you had any letters demanding money / contact etc.

You can ignore Hoist for now.

Post up as much info as you can about the debt so you can be advised on the best course of action.

[renegadeimp]

The file will drop off your report 6 years after the date of initial entry. So if it was first there in june 2008, then it will be removed in june 2014

[renegadeimp]

That entry is also for a catalogue account and is owned by hoist portfolio. meaning the OC has sold it to a DCA, who, for whatever reason has never chased you for it. Personally, i would leave it well alone as it is almost Statute barred, if it isn't already so.

 

If the DCA is not chasing you, then dont stir up the ants nest.

[alex80beck]

Many thanks for the reply's,

I failed to pay the debt as i didn't have the finance options a few years ago, i received letters from debt recovery company's.

the last of these came roughly 6 months ago,the usual MUST PAY IN FULL NOW! in big red letters,

i have ignored these letters and not had any contact with the company's, nor have i paid anything since 2008.

i understand i should have just paid the debt, in the first place.. but i didn't have the money at the time.

 

i don't want to stir up the nest, i do hope it will drop off in November as that was the default date, fingers crossed

 

Alex

[renegadeimp]

It will drop off, and it will likely be statute barred before that date anyway. So even if they did chase you, you can tell them to do one.

[alex80beck]

Appologies for the late reply , as i have been away

Many thanks for the advice etc.

As i would like to try and apply for a credit card at the moment i am being offered typical 34.9% interest cards i guess due to this being on my file.

Would i be offered better cards after this has dropped off, or is this not the case.

As i have never owned a credit card, the whole %APR is new to me. not to sound like a dinosaur lol.

 

Alex

[renegadeimp]

You will be offered better rates but not straight away. The entries may be removed, but you will still need to build up and show a solid and stable credit history.

 

Regarding a credit card, pretty much anything over 10% you should stay away from. When you see barclaycard and vanquis's 34%+ cards, definitley stay away. Youll pay more in interest than what you actually use, and those two companies have a habit of saying " you have been pre-approved". Then when you call to confirm, they put the app through, you get declined, and get a bad entry on your credit score.