Credit Record Advice

[Paddywack41]

In the past I was extremely silly and got myself into a lot of debt. Since then however I have paid of a number of debts but there are some which realistically I wont be able to pay off (unless the lotto comes in).

 

As the situations stands at present (according to my experian records) I have the following:

 

A credit rating of Fair

1 x CCJ

4 x Outstanding Defaulted Debts totalling £22k approx which are being paid at a small amount each month.

8 x Satified Entries made up of satisfied defaults and normal paid off credt

3 x Current Debt which is being paid regularly with no issues.

 

I would like to improve my credit record to allow me to get affordable credit in the future and the issues are these, The CCJ and the outstanding defaulted debts are all defaulted from approx 09/2003.

 

It is possible that i may be able to borrow from a friend approx 6-8k which I could offer as full and final payment for the default debts BUT if these debts and the CCJ move of the credit record in September 09 which i believe (perhaps mistakingly) they do even if the balance is not paid. Would it be better to keep paying the minimal amount I am paying to the creditors at the moment and if so would the removal of the defaults and CCJ by age on the experian records help increase my credit rating?

 

I look forward to your advice.

 

Regards

 

John

[bobbyh99]

In the past I was extremely silly and got myself into a lot of debt. Since then however I have paid of a number of debts but there are some which realistically I wont be able to pay off (unless the lotto comes in).

 

As the situations stands at present (according to my experian records) I have the following:

 

A credit rating of Fair

1 x CCJ

4 x Outstanding Defaulted Debts totalling £22k approx which are being paid at a small amount each month.

8 x Satified Entries made up of satisfied defaults and normal paid off credt

3 x Current Debt which is being paid regularly with no issues.

 

I would like to improve my credit record to allow me to get affordable credit in the future and the issues are these, The CCJ and the outstanding defaulted debts are all defaulted from approx 09/2003.

 

It is possible that i may be able to borrow from a friend approx 6-8k which I could offer as full and final payment for the default debts BUT if these debts and the CCJ move of the credit record in September 09 which i believe (perhaps mistakingly) they do even if the balance is not paid. Would it be better to keep paying the minimal amount I am paying to the creditors at the moment and if so would the removal of the defaults and CCJ by age on the experian records help increase my credit rating?

 

I look forward to your advice.

 

Regards

 

John

 

Defaults will drop off you credit file, 6 years from default date, whether the debt has been paid or not! Not sure about CCJ's but would presume the same. Someone will be along to confirm this or not!

[sam614]

Defaults will drop off you credit file, 6 years from default date, whether the debt has been paid or not! Not sure about CCJ's but would presume the same. Someone will be along to confirm this or not!

 

defaults will fall off.if unpayed and become statute barred if any dca **** show up.

ccj would be removed also, but a ccj is never statute barred,dca could enforce it but they would have to have good reason why it had taken so long to bring it back to court

 

 

SAM:pLOWELL DETESTER

[sam614]

have re read your thread.

if you have been paying on the defaults and you stop paying,if you are contacted after sept 09 statute barred will not be option.

it will apply from last payment not 2003

 

SAM:pLOWELL DETESTER

[Paddywack41]

Thanks Folks...I have no intention of not paying any defaults or CCJs after Sep09 however I am hoping that as they will no longer be on the credit file my file will appear to be good bearing in mind any credit history since the defaults has been faultless.

[tracyab1972]

Can someone explain what statute barred is please? I think I have a good idea what it means, but wouldn't mind someone explaining:confused:

[sam614]

Can someone explain what statute barred is please? I think I have a good idea what it means, but wouldn't mind someone explaining:confused:

 

 

if no payment has been made by you, or you have not acknowledged the debt in writing.

no legal action can be taken against you.

 

6 years england, 5 in scotland

 

 

SAM:pLOWELL DETESTER

[tracyab1972]

Is this no payment with the DCA or OC or both. I have made an arrangment with a DCA only last week for a debt that is ancient. Well over 5 years, can I get out of this? They were threatening me with court action, so I felt I had to agree to pay.

[sam614]

Is this no payment with the DCA or OC or both. I have made an arrangment with a DCA only last week for a debt that is ancient. Well over 5 years, can I get out of this? They were threatening me with court action, so I felt I had to agree to pay.

 

 

who is dca?

was it a verbal promise to pay and have you made a payment to them.

 

it is last date of payment either to OC OR DCA

[tracyab1972]

The DCA is Fredrikson International and I had to call them to set up a DD. The first payment is due to come off next week, but to enable a DD to be set up I had to pay them £2

[sam614]

The DCA is Fredrikson International and I had to call them to set up a DD. The first payment is due to come off next week, but to enable a DD to be set up I had to pay them £2

 

so they have already conned £2 out of you:???:

how did you pay this?

 

I think that a payment has to be made in the statute barred period to re start the clock.

once it is barred, its barred and no payments can change that.

am not 100% sure of this,with you saying over 5 yrs (presume you are in scotland) not sure of scots law.

rory32 would be the best one to ask on this.

or alert your post to mod.

 

 

SAM:pLOWELL DETESTER

 

 

[tracyab1972]

Thanks Sam, Yes I am in Scotland. I will try and contact Rory32 and see if he can shed any light on this for me. Thanks again for the input

[rory32]

It's a bit of a grey area and it's probably best to look at what the Prescription and Limitations Act actually states.

 

Negative Prescription

 

6 Extinction of obligations by prescriptive periods of five years

 

 

(1)If, after the appropriate date, an obligation to which this section applies has subsisted for a continuous period of five years—

(a)without any relevant claim having been made in relation to the obligation, and

(b)without the subsistence of the obligation having been relevantly acknowledged,

then as from the expiration of that period the obligation shall be extinguished:

 

 

10†Relevant acknowledgment for purposes of sections 6 and 7

(1)The subsistence of an obligation shall be regarded for the purposes of sections 6 [F17 and 8A] of this Act as having been relevantly acknowledged if, and only if, either of the following conditions is satisfied, namely—

(a)that there has been such performance by or on behalf of the debtor towards implement of the obligation as clearly indicates that the obligation still subsists;

(b)that there has been made by or on behalf of the debtor to the creditor or his agent an unequivocal written admission clearly acknowledging that the obligation still subsists.

The grey area arises because you have acknowledged the obligation thus indicating that the obligation still subsists.

 

I would take the view that the obligation has been extinguished, however it could be argued that the obligation still subsists because it has been acknowledged.

 

I think your first approach would be to send the DCA a statute barred letter and see what their response is.

[tracyab1972]

Thank you for replying. Do you suggest cancelling the DD that has been set up and sending a statute letter? Is there a template letter available on CAG?

[rory32]

Yes I would cancel the DD.

 

You can send them the following via recorded delivery. You'll need to possibly amend it slightly as you did make a payment.

Dear Sir/Madam

 

Acc/Ref No xxxx

 

You have contacted me regarding the account with the above reference number, which you claim is owed by myself.

 

I would point out that under The Prescription and Limitation (Scotland) Act 1973 Part 1 Section 6 "If, after the appropriate date, an obligation to which this section applies has subsisted for a continuous period of 5 years:

 

(a) without any relevant claim having been made in relation to the obligation, and

(b) without the subsistence of the obligation having been relevantly acknowledged,

then as from the expiration of that period the obligation shall be extinguished:"

 

I would also point out that the OFT say under their Debt Collection Guidance on statute barred debt that "it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period".

 

The last acknowledgement of this alleged debt was made over five years ago. Unless you can provide evidence of payment or written contact from myself in the relevant period under Part 1 Section 6 of The Prescription and Limitation (Scotland) Act 1973 , I would respectfully suggest that you are no longer able to take any court action against myself to recover the alleged amount claimed.

 

Should you continue to pursue this account without providing this evidence I shall seek an interdict and damages accordingly. A formal complaint will also be made to Trading Standards along with a report to the OFT questioning your fitness to hold a consumer credit license.

 

I await your written confirmation that this matter is now closed and that no further contact will be made concerning the above account after that last letter.

 

I look forward to your reply.

 

Yours faithfully

 

Print name do not sign

[tracyab1972]

Thank you so much for your help:D

[kizzi.i]

Hi guys, can I just get some advice please??? I banke with RBS when I was 15 and had a safety deposit box in there, being the young teen I was, I emptied my account, and didn't think I had to lave funds in there for the box monthly charge. Anyhow, I went abroad for 8 months, whlist RBS continously allowed me to go overdrawn. I assume I had no overdraft facility. I came back to find the acc closed, and a letter from a solicitor. I complained with RBS and they told me even if I pif to the sols, I would never be able to bank with them. Fair-Enough. That was when I as 19. I then applied for a bank account when I was 21 a current account at halifax. I as rejected for his with no reason as to why. I also asked my child savings acc to be upgraded to a current account with Lloyds recently and was told I am also rejected for this due to some 'anomilies' on my credit file. I have never taken credit out! I don't even have a current acount o another account. Now it seems I can't even get a basc acc with Lloyds. I cannot understand why. I have sent off for my credit file. But can I really be refused a basic account if one bank 'blacklisted' me??? As I'm worried by this greatly...

 

HELLLLLLLLP PLEASE!!!

[sam614]

HI.KIZZI.I

 

looks like RBS have registered a default,I would wait for your credit file.

there is still quite a few banks where you can still get basic account(parachute)

without overdraft or cheque book.most do DD and SO.

the only one a know with debit card (solo) is natwest STEP ACCOUNT.

hope this helps.

 

sam614

[kizzi.i]

Thanks sam614!!! That helps a lot!!! Seeing as at the moment I can only receive money into my savings account which has no cash card or debit card and I can only withdraw money during banking hours! I forgot to mention the debt has been sold to CapQuest who are being very unhelpful! I'm gonna go to Natwest tmrw to apply for the basic account and I should be receiving m credit report any time soon. Is it true that as there are 3 different credit reference agencies, each would give a different report???

[kizzi.i]

Sorry I just remembered, RBS and Natwest are both the same organisation no aren't the. So if RBS have defaulted me, I won't be able to bank with Natwest will I?? I don't want to have a lo of failed applications on my credit file! Any ideas anyone???

[sam614]

yes 3. experian equifax credit call

 

not sure if they hold different details

had experian and equifax last december and they were identical,but did not bother with credit call.

[sam614]

sorry yes think they are:(

there is a sticky on here ....

search for ......do you need a parachute account,

a list of accounts and what they offer:)

 

SAM:pLOWELL DETESTER