Hello all. Been using website for reference on many occasion, so now time to ask a question.
I have a debt with Hoist Portfolio Holding 2 Limited for £186, balance opened 07/12/2002. The balance status is "gone away", and defaulting since Aug 2014. [Noddle]
For approximately 3-4 years I wasn't paying the balance on account that I was unemployed and the account had insurance, which was being paid for me, for 8 years. (Sorry I don't know much about this, PPI maybe?).
I moved address in 2010 and subsequently didn't notify the lender, RiverIsland. Last week I checked my credit file to find I've been defaulting since Aug 2014. I suspect this is when I registered as self employed.
I have two questions, firstly does the Limitation Act protect me regarding the debt being older than 6 years since I last acknowledged the debt, even though the balance was being paid on my behalf by insurance? I'd only used the account once in 2002 and not made payment against the debt for 8 yrs or so. Just received statements each month confirming the minimum amount was being paid for me.
If the Limitation Act doesn't protect my credit file, is it possible I can agree to pay off the balance in full, and the default notice on my account be removed somehow?
It's not the debt which is concerning me, but the detrimental effect on my credit file. I'm not sure if it helps, but they hadn't sent me any letters regarding escalating the debt, (my ex-wife still lives at my original address).
Thank you for any advise.