Credit File Query. Old debt with Studio

[TheLion]

Just a quick question.

 

Old debt with Studio nearly repaid but removed from Experian as it's been over six years. Studio decided to sell this to Cabot in March, they've just infromed us of this decision. Will this now re-show on Experian?

 

Regards

 

TheLion.

[SabreSheep]

it shouldnt

[dx100uk]

no.

 

 

smells of penalty charges or hidden PPI if they've sold it on?

 

 

have you all the statements?

 

 

dx

[lookinforinfo]

No doubt you will be hearing from Cabot soon. You can ignore them unless they start talking about legal action. Then advise them that the debt is statute barred.

[TheLion]

Thank you all for your replies.

 

The debt is still being repaid on a monthly basis. Will have to check back through the paperwork to ensure that any charges have been dealt with.

[Stigman]

The debt is still being repaid on a monthly basis. Will have to check back through the paperwork to ensure that any charges have been dealt with.

 

Even though the debt has been sold on, you continue to pay the amount that you have agreed previously, if this is too much then you drop it to a level that are comfortable with (if this is £1pcm, then so be it).

 

As DX says in post #3, you need to reclaim all charges, fees and any ppi, do not approach any Company to do this for you, you can do it yourself for free, any questions on how to do this if you get stuck just ask.

 

Stigman

[lookinforinfo]

Sorry I thought that as it had dropped off Experian that it was statute barred. As you are still paying it seems strange that it would not still be reported by Experian. Even stranger that they would pass it to Cabot as you are still paying...........

[dx100uk]

if the debt was defaulted more than 6yrs ago

it wont show..

 

 

dx

[lookinforinfo]

That's right of course dx the default will drop off but Experian should still be reporting the payments being made.

[dx100uk]

no the account is removed

nothing to report on

[lookinforinfo]

Sorry dx, I read that the OP is still making monthly payments. I thought that those payments would be recorded on the credit report as the account is still live?

[dx100uk]

no

 

 

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

[lookinforinfo]

Thank you for that dx-i didn't know that.