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Which decides the 6 year Rule - Last Payment or Default issue?


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Going through some of my files, I am confused as the where the 6 years for Statute Barred and Credit files are counted from.

 

I understand that no payments for 6 years means a debt is Statute barred as far as collection and pursuit are concerned, however,

 

I have a couple of accounts where Default Notices were not issued, or, should I say recorded on my Credit Files until many months later, or in one case over a year after last payment.

 

My Credit File says that the Defaults will stay on my File for 6 years from the date recorded.

 

This therefore means, my debt will become statute barred in April 2010. However, because the default was not issued until 2006, my file will not be cleared of that account until 2012.

 

I have a couple of accounts which were 'closed' a few years ago because the OC or DCA at the time accepted my very poor health. They were marked 'Satisfied', but one of these has resurfaced with a new DCA who is threatening to issue a Default, so, again that will re-start the clock ticking on my Credit File, when this 'closed' account would 'fall off' in May this year!!

 

I have done the CCA thing and the alleged Agreements are not enforceable, although they are insisting they are and that they are therefore entitled to put a Default onto my File, which will start the clock running all over again. Apart from the obvious point of non enforceability, can this be done, or will I have to take then to Court to prove unenforeability and misuse of the system of reporting Defaults.

 

I have read many files and cannot find a definitive answers as many people have differing points of view and understanding of the rules.

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the statute of limitations start from the cause of action,

that would be from the time you missed the last due repayment,

also you have not acknowledged the debt in the last six years by letter or payment.

 

its not from the date on the default notice but cause of action, ie, missed payment

 

a dca cant default an account, only the finance company,

if an account has been sold to a dca without defaulting/terminating an account,

poor dca

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a dca can never default you or change the default date from the original creditor

It's true that it is not the DCA that registers the default with the CRAs, it is the OC. But if the DCA is an in house DCA, then they will register the default. They are only a DCA in name and actually are often staffed by OC staff, but the debtor will mistakenly assume that the default has been registered by the DCA

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the statute of limitations start from the cause of action,

that would be from the time you missed the last due repayment,

also you have not acknowledged the debt in the last six years by letter or payment.

 

its not from the date on the default notice but cause of action, ie, missed payment

 

a dca cant default an account, only the finance company,

if an account has been sold to a dca without defaulting/terminating an account,

poor dca

 

Just to clarify, a letter disputing the debt would not count as acknowledging the debt with regards to the statute barred issue, would it?

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[quote name=harrassed

 

My Credit File says that the Defaults will stay on my File for 6 years from the date recorded.

 

This therefore means, my debt will become statute barred in April 2010. However, because the default was not issued until 2006, my file will not be cleared of that account until 2012.

 

[/quote]

 

Is the above my correct understanding then?

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