Thanks for the reply.. Statue barred, what exactly does that mean? So it will be removed from my credit report?

If your account is defaulted but not settled, will it still be wiped from your credit report in 6 years, or does it have to be settled for it to be removed? I only say that as I have an account that was defaulted in 2004 with 2k still owing, I havent been chased at all for this money since, but my credit report still shows it as defaulted but not settled... Im hoping they dont contact me and it will just dissapear from my report in 2010, I mean 3 years of no contact regarding this account is a tad strange even though I still owe 2k... Can anyone explain what has happened there? has it been written off internally, but not removed from my report? Thanks.

Hi guys, First of all great site, and some interesting topics. Anyway, your help is required if you would be so kind... Today I got my credit report from equifax, and as expected it was a horrible site, lots of late payments etc etc..no more than I expected as I was out of work for a year back in 2003... This is my quandry.. I had a credit card and a loan type account with Citifinancial activated in 2002 everything was going along fine, making payments on time etc etc, I lost my job in 2003 and got behind with my repayments, one thing led to another and eventually my credit card was defaulted. Luckily I got some help from a family member and managed to settle my credit card with Citi, It shows as settled on my report, but obviously has the default still registered against it, can I get this removed? My second quandry is my second account with Citi, I have recieved no phone calls, no mail, nothing regarding this account since 2004 and as at the time I had a lot of active accounts I presumed it had been settled by myself amongst all the other stuff. It wasnt until I got my credit report today, that I realised this account is still active as far as Equifax are concerned and I still apparantly owe Citi money!!. Now, I cannot afford to pay this debt off at the moment as it is around the 2k mark, so Im in a catch 22 position, do i phone Citi and ask them about this account and potentially have to pay this off, or do I just leave it and hope it dissapears in a few years off my report? Call me stupid, but I have not heard a peep out of Citi regarding this account for over three years now, so was I wrong in assuming it was settled? Surely they would of contacted me/issued a summons if they wanted money out of me? Help!.. Thanks.