Barclays Loan from 2004 No Default??!!

[Houghtonguy]

Hi,

 

I took out a £15K Barclays Masterloan in early 2004 and

 

made monthly repayments of £342 for 12 months then missed some payments and

 

agreed to reduced payments after hitting some financial problems.

 

Then I stopped making payments despite being chased by Barclays around 2006,

 

I requested bank statement which went as far as Jan 2007, and no payments are showing to Barclays.

 

My CRA records show the loan as up to date with payments made on time for the last 12 months, the balance is just over £15K.

 

There has been no default issued and

 

I believe that the debt is now statute barred.

 

Should Barclays have issued a default within a certain time period?

 

I am loathed to contact them now,

as I don't want a default placed on my CRA records

which takes another 6 six years to fall off.

 

 

Thanks in advance for any advice!

[slick132]

Hi Houghtonguy and welcome to CAG

 

Can you just confirm, did you send your own bank (not Barclays) a SAR which produced statements from 2013 back to 2007.

 

I have no idea why the a/c is showing payments made on time on your CRA file over the last 12 months as I assume you've paid nothing.

 

If the debt is now Statute Barred, I think the bank is out of time to take collection activity or place any adverse CRA markers.

 

If others disagree, I hope they'll comment.

 

[Houghtonguy]

Hi Slick132,

 

Thanks for the reply.

 

I didn't send an SAR to my bank, they printed off the statements for 2007 at no charge and I went through 2008-13 statements online.

 

I have paid nothing since around early 2006.

 

Thanks.

[citizenB]

If the loan is not a secured loan and you have not made payments from the date you advise, then it is likely to be statute barred.

 

It is strange they have been marking your credit file with payments being made !!, very strange indeed.

[slick132]

Hi Houghtonguy,

 

A debt becomes Statute Barred when it is 6 years from when you last made a payment or when you last acknowledged the debt in writing.

 

So it looks like this is past that point and there's nothing that can be done to disadvantage you now.

 

[Houghtonguy]

Is there anyway that I can get this removed from the CRA files, and would Barclays be able to add a default marker to the file now?

[slick132]

Hi HG,

 

Have you checked your CRA file again recently. A Default Notice and any late payment markers should be removed soon after 6 years have passed since the initial default.

 

Barclays should not be able to add any markers now if they failed to do it at the right time.

 

[Houghtonguy]

The CRA file shows no default:

 

 

[ATTACH=CONFIG]47812[/ATTACH]

 

I have read elsewhere that they could place a default marker now even though the debt is statute barred, is this correct? Also, there was no arrangement to pay made in 2008, and why would the account change from Dormant to OK?

[Houghtonguy]

One more question, Do they have to issue a default or can they hold off issuing one to cause problems for years to come until the debtor agrees to make payment?

[silverfox1961]

Hi

On the assumption this debt is SB, once they have been told that no payment will be forthcoming, they can do nothing.

 

It does concern me that they are marking your file as OK when it should have been defaulted at the latest 6 months after the first missed payment. Unless someone is paying your debt for you (unlikely), they would have to prove that you made the payments (also unlikely) so my initial thinking is that this is an error on their part.

[slick132]

Hi HG,

 

My opinion is that they had to lodge a Default Notice within a reasonable time and they cannot do this retrospectively.

 

I would just leave things be for now but keep an eye on your CRA file every 3 or 6 months, just to make sure no nasties appear.

 

[Houghtonguy]

Thanks for the replies!

 

Will the debt not harm my credit score if is not paid?

 

I would like to move house in the future and am concerned about the impact of this on any future mortgage application.

 

Is there anyway to find out if Barclays have issued a Default which dropped off in the past without contacting them?

 

Thanks in advance!

[silverfox1961]

You could if you wish send a SAR to each credit reference agency at a cost of £10 each. This will bring back a lot more info than what is shown on your credit file

[slick132]

Hi HG,

 

You can get a copy of your CRA data from any of the main players for just £2 by post.

 

Or you can use a free trial with Experian but make sure you cancel before they start taking payments.

 

Or Noodle is free but the info may not always be so accurate or up to date.

 

I assume you used one of these methods already, hence the reported data in post #8 above.

 

Will the debt not harm my credit score if is not paid?

 

That would normally be the case but, for some reason, BC let this slip and I think they are now too late to do anything about it. I'd love to know how this went unnoticed but that's not important. I find it strange that the recent CRA data shows it as being paid. I could understand it better if nothing was being reported !

 

I still can't help wonder if the a/c is still being paid by someone, even if not by you. But I assume you have thought this through and discounted that option.

 

[Houghtonguy]

Hi HG,

 

That would normally be the case but, for some reason, BC let this slip and I think they are now too late to do anything about it. I'd love to know how this went unnoticed but that's not important. I find it strange that the recent CRA data shows it as being paid. I could understand it better if nothing was being reported !

 

I still can't help wonder if the a/c is still being paid by someone, even if not by you. But I assume you have thought this through and discounted that option.

 

 

The account is not being paid by anyone as the balance has remained static, but the payment marker is green saying up to date!

 

As Barclays do not appear to have defaulted this loan, is there anyway to get it removed from my CRA files?

 

Thanks for all of the replies to far!!

[slick132]

Hi HG,

 

I've asked someone else to stop by and comment as they have better experience of CRA issues.

 

[dx100uk]

does the change from DT to OK

 

on that cra pic coincide wit the end of the agreement?

 

dx

[Houghtonguy]

Hi DX,

 

The agreement started in Jan 2004, I am unsure of when it would end.

[dx100uk]

36mts @ £xx look for that type of thing.

 

dx

[Houghtonguy]

The terms are £XXX x 60 months, also the balance changed from £15,949 to £15,370 without any payment being made which coincided with the status change from U to O:

 

[ATTACH=CONFIG]48724[/ATTACH]

[dx100uk]

pdf please

 

**you can post up images/letters by this method immediately..you don't need 10 posts**

.

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc

but leave all monetary figures and dates.

.

************************* ************************* *******

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

************************* ************************* ***********

.

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

..

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or http://www.freepdfconvert.com/

or

use www.pdfmerge.com

 

convert existing PC files to PDF [office has an installable print to PDF option]

..

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

though dont use full bank names or CAG in the title

i'e Default notice DD-mm-yyyy TSB

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

...

YOU DONT have to put a link to the attachment in the msg box..just upload it ..job done

.

dx

[Houghtonguy]

The terms are £XXX x 60 months, also the balance changed from £15,949 to £15,370 without any payment being made which coincided with the status change from U to O:

[Houghtonguy]

Any advice would be greatly appreciated!!

 

Thanks in advance.

[dx100uk]

its not harming you

the U means unreported

 

the O is OK.

 

you could ask say noddle via their chat thing

 

why its still showing as its sb'd.

[Houghtonguy]

Thanks dx!

 

Does the fact that I have a high amount of unsecured credit which is not reducing harm my credit score?