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Debt after so many years


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Hey all,

 

In a nutshell I took out a loan in my younger day's (1998) I am guessing I must of defaulted on the loan £14,000 from Barclays, so fast forward to now, I have been paying £26 a month to payplan (which I am getting off lightly with i think). If for some reason I stop paying (not that I intend to) can they then put a note on my credit file regarding this debt. Basically what can they do?

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Hey all,

 

In a nutshell I took out a loan in my younger day's (1998) I am guessing I must of defaulted on the loan £14,000 from Barclays, so fast forward to now, I have been paying £26 a month to payplan (which I am getting off lightly with i think). If for some reason I stop paying (not that I intend to) can they then put a note on my credit file regarding this debt. Basically what can they do?

As you are still paying, they probably can legally enforce the debt. If you are only paying £26 per month, then more than likely you owe a lot more than £14,000.

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As you are still paying, they probably can legally enforce the debt. If you are only paying £26 per month, then more than likely you owe a lot more than £14,000.

Hi and thanks for replying the good thing is that started paying back the loan with the loan and interest was frozen so it's definitely less than 14000 :-) I am see what u are talking about but am wondering aside from a cjj (which I won't let it get to) could they put the default back on as my credit report is come May default free ;-)

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No if there was a proper default date then it must disappear after 6 years.

 

Problem with Barclays is that they are very reluctant to issue default notices and sometimes the default date is long after the first technical default

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Have you checked your credit file lately it's probable that there is a marker there already and on al 3 major credit reference agencies.

You will either have a default entry which will be removed 6 years from the default date or an arrangement to pay marker which is as bad and can continue for more than 6 years.

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What are the chances of there having been PPI applied to the account ?

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What are the chances of there having been PPI applied to the account ?

Possible on a 1998 loan (no PPI no loan era).

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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I have checked Experian and Equifax and the Barclays loan appears on none of them. Also as to the PPI thing I am not to sure, thing is I am just paying £26 a month which suits me. I think if in the future they decide to change things I will see if PPI is attached and then pursue dont want to rock the boat and up my payments u see.

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