In Scotland does the 5 years start from last payment or the default date?

[somethingelseplease]

In Scotland does the 5 years start from the last payment or the default date?

 

Was wondering as I made a token payment of £1 last 03/07/2009 (5in total) on the same date within 5min of each other, but defaults date varies stating:

 

08/03/2010

06/03/2010

01/06/2010

04/01/2010

28/03/2010

[cerberusalert]

The last payment. The rest are probably updates.

[somethingelseplease]

It says on the Equifax report that those were the default dates

 

So that's a definite then, from the last payment

 

Ok thanks

[BRIGADIER2JCS]

It is definate the SB date is the date that a pyment was due and then

no further payment or acknowledgment was made in 5 years.

[somethingelseplease]

Thanks

[citizenB]

first missed payment + 6 years in England and first missed payment + 5 in Scotland.

Whils the debt is not extinguished in England.. (it still exists but isnt collectible) I understand it is extinguished in Scotland

Many DCAs will argue that limitation accrues from the time when the "default notice" is issued. It does not.

 

Limitation clock starts ticking from when the payment is due and not paid not when they send a default notice.

 

We see often that CRA entries will date 5 or 6 months ahead of when the payment was missed.

 

People need to be sure that they aren’t being hoodwinked and that the DCA is extending limitation so they can sue when they are not allowed to.

[BRIGADIER2JCS]

Correct total wipe out in Scotland, in England

collection action can continue until the debtor

informs the creditor in writting that the debt is

statute barred and they will not be paying to

continue to press for payment after thsi can

amount to harassment.

[somethingelseplease]

Hi guys

 

Can anyone please tell me what the law suggests regarding when the 4 years is up for Scottish debt

 

Is this when the last payment was made or when the default is dated on my credit report?

 

If anyone post proof this info as a statement from the government or whoever I would much appreciate it

 

Many thanks guys for help

[ims21]

Two threads merged for the same issue.

 

Look here

 

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=23_prescription_and_limitation_act

 

And if you need the act it is here

 

http://www.legislation.gov.uk/ukpga/1973/52

Edited July 9, 2012 by ims21

[somethingelseplease]

Thanks very much

 

Jeepers I've just looked at the Act link and I'm lost

[citizenB]

Hi guys

 

Can anyone please tell me what the law suggests regarding when the 4 years is up for Scottish debt

 

Is this when the last payment was made or when the default is dated on my credit report?

 

If anyone post proof this info as a statement from the government or whoever I would much appreciate it

 

Many thanks guys for help

 

Sorry, what do you mean 4 years ? It is 5 years from the first missed payment.

 

You will find the statement in the OFT Debt collection Guidelines.

 

http://www.oft.gov.uk/news-and-updates/press/2011/113-11

[somethingelseplease]

Ah yes, it's 5 years from the last payment, I'll check my Equifax credit report

 

Thank you

[citizenB]

Thanks very much

 

Jeepers I've just looked at the Act link and I'm lost

 

 

Why are you lost ? you asked for the relevant law and this has been provided

[somethingelseplease]

Guys I've looked at my credit report from Equifax

 

In which way do I read this

 

Green boxes then yellow with a 1 in it, then a yellow box with 2' then red box with 3, then red box with 4

 

Is it from the first yellow box which means the first missed payment (I think that's what the boxes mean)

[somethingelseplease]

Why are you lost ? you asked for the relevant law and this has been provided

 

No thanks for the info and I appreciate what you have done

 

I just looked at it and scrolled down and there is a lot to read, but is there a certain paragraph in the Act that mentions

 

'the 5 years start from the last missed payment'

[citizenB]

Ah right. Can you remember when you missed the first payment/stopped paying ?

 

Sometimes the Default markers on the CR files dont always match..

 

Many DCAs will argue that limitation accrues from the time when the "default notice" is issued. It does not.

 

Limitation clock starts ticking from when the payment is due and not paid not when they send a default notice.

 

We see often that CRA entries will date 5 or 6 months ahead of when the payment was missed.

 

People need to be sure that they aren’t being hoodwinked and that the DCA is extending limitation so they can sue when they are not allowed to.

[BRIGADIER2JCS]

The 5 years starts from the date a pyment was due and NOT paid

and no further payment or written acknowledgment was ever made.

[BRIGADIER2JCS]

Default date and look back up to 6 months for the start of 6 years,some times

shows a date of last deinquent payment.