Student Account Overdrawn from 2012 still on Credit File

[Rid90]

Hi,

 

Since credit file/scores are now free, I signed up a while back in an aim to improve my score etc.

 

I noticed at first all was well. But as time has gone on, my score has been coming down and down.

 

I investigated further to find that there is 1 account in Default since 2014. It is my old student account and from what I can remember, I had an OD limit of £1200 which I was under, but then they changed my account to a Gold Reward account which didn’t have the OD facility, thus sending me over and charging me fees upon fees until they closed my account.

 

Since then, I have tried to contact them and settle this numerous times only to be told they had sold the debt on to a collection company. I’ve tried and tried to locate my debt, even calling well known collection companies asking if I’m on file (which ended up with me having to clear a few little debts from other sources such as unpaid phone bill settlements etc), but to no avail.

 

Im not knowledgeable on this type of thing so I was hoping someone could give me a nudge in the right direction as to what I should do to get this debt settled. I’ve read as many threads as I can on here so I’m aware of Statute Barred but I want my credit file clean. How should I go about this?

 

Any help on this regardless of how small would be a great help to me. I’m an honest family man and I just want everything to be fair and square. We’re looking to get a house next year and I don’t want this to be the reason we can’t
 

TIA

[dx100uk]

who ever told you settling a defaulted account ever improves your mythical credit score?

 

what is the defaulted date in the debt summary?

 

dx

 

[London1971]

That default won’t have any effect on you buying a house as it’s so old. If it defaulted in 2014 then it will drop off your Credit File anyway in the next few months , on its 6th anniversary. Forever invisible to any lender.

 

Your credit score is absolutely nothing to do with this at all. If you want to see it improve get a Credit card with a small limit. Buy everything on that card but pay it back every month religiously. Your score will begin to slowly improve.

[Rid90]

@dx100uk

Surely settling my debts is better than defaulting on them?  As I said I have very little knowledge on how the system works.
 

If the defaulted is the date when it first shows as in default then that would be November 2014?

 

cheers

 

@London1971 I do everything re Credit by the book.

But I’m struggling to get into the “Very Good” bracket.

Always staying in the “Good” or “Needs Work” bracket.

 

I have 2 shopping accounts and 2 credit cards which I regularly use and pay off religiously.

 

It just seems as if something is holding it back so I assumed it was this old debt.

 

So what happens with this debt then?

Does it just get wiped after 6 years?

Because that sounds mental to me

Surely someone needs paying?

 

Again, apologies if this is painful for you but I literally don’t understand how this system ever works if this sort of thing goes on

 

thanks again 

[London1971]

Then it won’t make any difference to your credit score. Zero, zip, nothing. It’s too old to matter, and will be gone for ever, with no evidence it ever existed in 4 months.

Likely there are other factors contributing to your low score. I have the same problem as you, with a totally clean file. 
 

The debt still exists, but if you have not paid anything since it defaulted the debt will become statute barred after 6 years. This means it’s unenforceable.

[dx100uk]

if you look at the debt summary section

there should be a list like when taken out

and various other data

 

there should be one which says defaulted date:

 

it's that we need.

 

 

[Rid90]

I’ve attached a shot from my other Credit Karma report.
 

[brassnecked]

that debt will drop off  your file in November this year.

[London1971]

Job's a good 'un

[dx100uk]

yep

 

as always with credit files

you can forget the calendar section

no-one bar you and the debts owner can see that

 

as you can see, there is a defaulted date

that's all anyone else can see

once a default date listed in the summary reaches it's 6th birthday

the whole account is removed from your file..

paid or not, paying or not, 

never to return.

 

paying a defaulted debt off does not improve your score nor can it remove the default any earlier.

it's there for 6yrs regardless.

 

might not mean the debt is not still owed mind

that's down to statute barring and your last payment or account use.

 

dx

[Rid90]

Ok, I get it now! Thank you so much for sharing your knowledge!

I’ll sleep much better tonight thanks to you and the others that have contributed here.

 

Thank you