Old MBNA Card debt. Possible Statute Barred Debt - scotland

[kingofrod]

Hi folks

Been a member here for a long while and got some fantastic advice back in the day that has helped me turn things around a bit.  

Something interesting just arose, though.  

In the process of renting a property, I was directed to "Totally Money" to check my credit report.  I'd never heard of them before and had always used Clear Score.  Clear Score showed my credit file as being absolutely tip-top.  I couldn't quite believe it, considering I have a few on-going payment plans making token payments each month (why pay them in full when they'll let you pay them off interest free over time, without seemingly impacting your credit score?!)  

However, on Totally Money, while still a very good score, it's not perfect.  The reason is one credit card account I've not spoken on, thought about, or paid towards for many years.   

Totally Money tells me I need to improve on the %age of utilisation of available credit.  The problem is this one account referred to above which is well over 100% in utilisation - through missed payments, fees, interest (in the early days).  The furthest back the records go for the account that I can see are 6-years to October 2017 when the account was already well over 120% utilised.  And it increased month on month, which makes me think I'd stopped paying by that point.

I believe I opened the account while resident in Scotland but later moved to England.  I've since returned to Scotland.  

For the life of me I cannot remember WHEN I last made payment to or contact with the lender.  

I'd like to take care of it properly and tell them it's SB'd but I don't want to run the risk of getting in touch before it's become SB's - and also don't know whether I should go with 5-years for Scotland where I opened the account OR 6-years for England where the last address they have on file for me it.  

WEIRDLY, I have since opened a new credit account with this company without issue and they offered me a generous credit limit.

I suppose there's no harm in me just continuing to ignore it for longer and only cross the above bridge if/when I come to it, but it might be handy to try and get it off my credit report.  

Any thoughts would be greatly appreciated.    

[dx100uk]

TotallyMoney is an independent credit broker, not a lender.!!

its basically a credit selling company that gets your details from one of the three cra's and makes it look as  bad as it can and suggest you take out more credit to 'scam you into thinking it improves you score'...urban myth.!!

you are in scotland, you took?? this out whilst resident in scotland before?

1 hour ago, kingofrod said:

I believe I opened the account while resident in Scotland but later moved to England.  I've since returned to Scotland.  

For the life of me I cannot remember WHEN I last made payment to or contact with the lender.  

tell us about the debt not these scammers.

its 5 yrs sb in scotland and the debt is extinguished, dead gone parrot if you've dont nowt in 5yrs.

it will not be removed form your credit file mind.

is there a defaulted date in the debt summary, i'e this mystery lender sent you a default notice long ago?

so...

[kingofrod]

Hi DX - thanks for taking the time to respond.  I apologise for my delay in getting back.  

I checked Experian last night based on your evaluation of Totally Money.  Experian's "Credit Expert" shows no trace of this debt at all, and actually gives me the highest of credit scores.  THE highest.  

It's really odd.  

The lender is MBNA. 

My Totally Money report shows it as in default since 12th April 2018 and missed payments since October 2017 (six years - so could have been longer, I guess). 

[dx100uk]

what about equifax?

if the defaulted date IS CORRECT it will stay on your credit file till 12/04/24, and when a default debt reaches 6yrs since the original creditor issued the default notice the whole account is automatically removed from your file. paid or not paying or not. 

now who owns the debt now? cause it wont be MBNA who is stated as the owner on your credit file?

you need to send them our scottish statue barred letter from the debt collection section of library.

dx

 

[kingofrod]

Hi DX

Just checked Equifax who are also giving me a score of 1,000 and show absolutely no trace of this debt at all! I don't know if it has been sold on - I've had no letters or other communication about it that I can recall. 

It appears as though the debt exists ONLY with Totally Money which is bewildering; but I wonder if they've seen it in a previous report somewhere and are including it in the hope of making me take a loan out via them to pay it off? 

I was able to see my United Utilities water account on Equifax which shows it was closed/settled in April 2017 whcih would be when I moved back to Scotland and I'm certain I'd stopped paying the debt before then. 

That sort of makes sense - if it's been as long as that - over six years - could MBNA have automatically removed the account and SB'd it? 

Thanks again

 

[dx100uk]

be clear upon what ive stated please.

mbna would not have removed the A/C, their issuance of their dn and it reaching its 6th b'day does that automatically

Statute barring again is an automictic process but has nothing to do with credit files nor if a  debt shows or not .

you've guessed right about totally money...not interested about anything else .. just totally getting money.

pers id forget about it.

and p'haps suggest to whomever told you to go TM that they are not a recognised credit reference agency but a money lender why ae they touting such a business that misleads people.

it smacks to me of something that used to do the rounds alot  +10yrs ago, called fresh start scheme, whereby dodgy lenders and DCA's used to offer a service that claimed it wrote off your old debts.

they would alert you to a debt, wind you up upon how it could screw your credit file, then offer you a no questions asked guaranteed loan to pay it off, giving you a  - fresh start.

you never saw the money, never knew if this supposed debt was really ever settled but ended up with a loan of 5yrs at high int rate . many years down the line companies like provident that tried the scheme were severely reprimanded and fined by the authorities over it. it was a big scam.