Defaults after 6 years - what happens?

[royalscot]

If you make a payment within a six year period you start the clock running again , once the six years are up , making a payment does not start the clock again - the debt is statute barred for all time and therefore cannot be Legally challenged .

 

In law , a limitation period is not extended by contact , it is only extended by payment or by written and signed acknowledgement of the debt . Spoken acknowledgement is not sufficient .

 

Please note that in Scottish law it is Statute Barred after five years

 

Please bear this in mind if there are still monies owed

[sevenhorsestakes]

Thank you for the quick reply:

1 - No payment has been made on the CC since September 2004. The default was placed by Cabot.

2 - I have had correspondence with Cabot, but have either deflected via Kerobo/KBCM/Connect or

have always written that I dispute there findings. This has been going on for 16 months.

3 - I sent a prove it/harassment letter to which they didn't answer with any facts. Only to inform me of my complaints rights.

I am fairly sure that they haven't anything that would qualify as an acknowledgement - but of course in my mind - if you reply to anything like this even with an s74 request it sounds like an acknowledgement. This is why you understand law and I am Clueless of Clacton!

 

The point I wish to clarify is:

1 - Should I send another 'prove it' letter and try for a response? This cost nothing and surely at some point they have to declare their hand?

2 - Or send an s.5 and leave the burden of proof with them and see if they come up with anything?

3 - Send an SAR which extends the time and gets closer to the date of default that THEY placed on my CR?

 

I hope I don't sound too stupid, but it does seem to look like very murky waters at times.

 

SSS

[royalscot]

The information on the CSA file from the DCA is May 05.

 

 

To be honest seven , i wouldnt open a can of worms ,i would wait until the time above lapses ....thats what i would do !

 

However if you fancy the fight regardless ... then thats up to you

 

Whatever you decide ...goodluck

 

regards

 

rs

[sevenhorsestakes]

Just to add to the above. I have just been informed by a solicitor that section 5 is no longer enforced as it was repealed by the enterprise act of 2002. So regardless of default date is it still be statute barred.

 

Facts: Cabot have been contacting me for 17 months - Their original contact being 5 years after the official default date. I have circumvented dealing with them and believe I have not actually acknowledged the debt as stated earlier - but as ODC has said the niggling doubt surrounds Cabots default date on my Credit File.

 

But of course acknowledgment is a vague word. I have NOT made a payment in over 6 years that is a fact. If Section 5 is no longer enforced is it purely on a point of None Payment in 6 years, Contact in 6 years or Acknowledgment in 6 years?

 

Simply - Contact has been made by CABOT with the 6 year period In that time I have continued to dispute the debt. I have NOT paid to that account in over 6 years.

They have continued to pressure for 17 months, but have never gone the next step to take me to court - Why?

 

I don't mean to sound stupid, but I just want to make the right decision based on my situation. So what effect has the Enterprise Act had on s.5 and statute barred?

Edited January 26, 2011 by sevenhorsestakes

[royalscot]

I had several Defaults on my credit file and sure as damn it a year or so before they were due to fall off ......along came the DCA`s

 

They tried to convince me to pay a small amount to acknowledge the debt or to offer me a Full and Final Settlement.....I vigorously ignored them all .

 

When they eventually all fell off amazingly the letters stopped !!

 

I was then inundated with offers of credit cards and loans , by the banks who wanted to be my friends again ....i was back in the land of the living

 

I think they have nothing sss ...leave alone until the end of april...then check the CRA `s ...if its still there ...then you go to war !!!!

[sevenhorsestakes]

Sound advice - I have one with Lowell that is Capital One and it doesn't not appear on my credit report. I sent an s.5 on 5th Jan and have this is the reply. What do you think? They say Capital One defaulted me on 18th March 2005.

[Noshovel]

Dear All

 

Thanks for all of this it has helped to clarify a few things for me.

[kittyo]

Hi - I'm new to this forum thing so forgive me if I'm hijacking a thread - this was the most relevant one I could find!!

 

My husband and I and our three sons moved into my late grandmother's granny flat a year ago (boys in the only bedroom and us on a sofabed!) and we've started to save for a mortgage after renting for years. We recently checked our credit reports to see if we were likely to be successful in getting one.

 

When we viewed my husband's equifax report, it said that two of his accounts from 5 and a half years ago were Defaulted. They were both from the same bank, one was a current account and the other was a loan account. At the time, the bank said it'd be better for him to take out a loan to clear the overdraft of his current account (about £500) The entry on the credit report stated all these different amounts and none of them seemed to add up. He then rang the Bank, called in to the branch and was told he had to write a letter including details of his credit report to the bank's debt recovery section. When they received the letter, they rang and said they had to wait to receive copies of his bank statements from the time of the “default” so they could investigate further.

 

On receiving the bank statements, the agent was able to see that both the loan and current account my husband had had with the bank had been settled in full in December 2005 when they received a cheque for the full amount (albeit after a couple of missed payments). The agent apologised for this mistake and told us he would get in contact with Equifax straight away to clear the defaults. He did this promptly and when I checked the report on the Monday morning, the report had been updated, showing that the current account had been settled and the loan settled. However, the loan was still showing as in Default before it had been settled which didn’t change the credit score.

 

Is this defamation of character? I have no doubt we have been refused credit because of this. Our current bank won't even give us a small overdraft or debit card! Does anyone know if we have a case here? And, if so, what could we get from it? I don't even care about 'compensation' - all I want is a mortgage - the sofabed is killing my back!!

 

Any info would be brilliant - thanks!

[sevenhorsestakes]

I had the same with a loan years ago - I wrote a letter to the loan company asling them to change the report - which they did - You will definitely have to speak to the bank again and get them to change the information as it is their information. You should also check the other two Credit Reference Agencies - send £2 for a report. The report may not have been changed with them. I'm not much of an expert but hope this helps.

[Artheratkins]

HI, I have a default which I am still paying. the date of the default is 19.5.10. It has been sold on several times. In May this year the default should disappear. If I am still paying it how does that reflect on my credit file? or can I just stop paying it. My credit file hasn't been updated on this debt since 12/15.

 

 

thank you

[dx100uk]

HI, I have a default which I am still paying. the date of the default is 19.5.10. It has been sold on several times. In May this year the default should disappear. If I am still paying it how does that reflect on my credit file? or can I just stop paying it. My credit file hasn't been updated on this debt since 12/15.

 

 

thank you

thread is +5yrs old

best you start a new thread

of your own

 

 

dx