3 years on still paying still - on credit file

[alan7181]

I owe Cahoot about £20,000 half on a credit card and half on a loan. 3 years ago my business went bust. I have been paying Moorcroft debt recovery £5 per month on each account. They have now sold the debt to dlc who it appears after a lot of hassle will also accept the £5 per month.

The problem is I want to get rid of this debt. By paying each month the six-year rule will never apply. After 3 years to still have this causing me credit problems is a real pain.

[old_andrew2007]

Hi alan,
You could consider sending an Subject Access Request request in order to discover what charges were levied, if there are this could reduce the balance, is interest still accuring.

[alan7181]

No interest is not accruing and to be fair they haven't added much in the way of charges (or so I believe). Citizens Advice bureau were very helpful when I had the problems and this helped me keep costs down.
Anyone know if they will still persue it even after six years when it goes off my credit file.

[neill1999]

Unfortunatly all the time regular payments are being made this will stay on credit file till it is settled, and then will come off 6 years later it only comes off credit file six years after last payment was made or in a lot of peoples cases where they have stopped paying for one reason or another and receive a default then six years after default was issued

Have you sent them a CCA request??

If no payment has been made or acknlowdgment of the debt has been made for 6 years then it becomes statute barred.

[Sev]

so you are saying that although Alan is trying to pay his debt off, there will never be an end to his default on his file.

So what is stopping him, other than moral obligation to just say stuff this, and not pay?

Also if you have received a default then really you may as well call it a day in trying to do the right thing, as the institution has just stuffed you anyway. I'm just playing devils advocate here - if this is the case, why should one bother after being defaulted?