Have you stopped payments 6 years after a default?

[user2001]

Hi all,

 

I am interested in direct experience of anyone who has decided to stop paying a valid (ie not statute barred etc) debt once it drops off your CRA (6 years after the default notice).

 

Did your creditors just give up, did they try contacting you and more importantly, did they try to take further legal action?

 

There has been some argument on the validity of this kind of action here but with no real conclusion.

[oleg]

If you hope to stop paying and not receive mail threats or phone calls just because 6 years elapsed since D N , that is pure wishful thinking.

They will hound for as long as they deem worthwhile unless and until you reach S B [which will be another 6 years] and then tell them to stop.

A person in this position - you, presumably - would have been better not to start paying DCA rogues in the first place, then you would have reached S B at or before 6th anniversary of D N.

Creditors' decision whether to take legal action hinges on their assessment of your financial status and assets.

If you were to outline your actual case rather than talk hypotheticals, peeps might be able to offer more specific guidance.

[user2001]

No it's not really about me - i've pretty much finished with making F&F to clear my debt.

 

But reading the thread I linked indicated a significant difference of opinion which then also appear on many other similar threads so I was curious to see if any action had actually been taken in those circumstances.

[oleg]

Sorry. My misunderstanding.

But what link ? Here in my mobile phone, there's no link to another thread showing on this one - unless you mean the S B information link.

Nevertheless, I still don't see what possible doubt might arise. Ceasing payments just because 6 years have passed since D N will not cause creditors to stop chasing and /or taking legal action.

[user2001]

No worries

 

The link is on the original post as a hyperlink on the word HERE

 

Here is the full URL: http://www.consumeractiongroup.co.uk/forum/showthread.php?383367-Credit-file-default(1-Viewing)-nbsp

[BRIGADIER2JCS]

Starting a claim 6 years or more after the " cause of action" i.e. the default would not be viewed sympathetically by a court, a creditor has had full six years to attempt to enforce and has not don so.

[oleg]

Even when, as in this apparently hypothetical case, a payment arrangement has been kept going all or most of the time up to the 6th anniversary of the D N ?

[BRIGADIER2JCS]

even when, as in this apparently hypothetical case, a payment arrangement has been kept going all or most of the time up to the 6th anniversary of the d n ?

yes.

[caro]

I think the OP is talking about a debt that's been paid over the six years.

Edited April 4, 2014 by caro

[user2001]

To clarify: I am referring to a debt that is under an arrangement to pay (effectively a formal or informal DMP style arrangement) so in no way SB.

[BRIGADIER2JCS]

To clarify: I am referring to a debt that is under an arrangement to pay (effectively a formal or informal DMP style arrangement) so in no way SB.

Quite and you are as said correct the 2014 ICO document effectively means that an AP in now recordable for a very extended period.

[user2001]

Should that guidance be applied to AP from 2014 onwards or are they trying to imply that it is a retrospective guidance