When does a defaulted debt come off my credit file

[mayaknew]

I have a default on my credit file. It's recorded on my credit report as

Date defaulted May 2019
Last updated January 2020

Does this mean it will drop off in may 2019 or January 2020?

Thanks :)

I think it’s 6 years from date of default. Sorry!

It will drop off in May 2025 - 6 years from the date of default.

I think you mean May 2025 or January 2026 yes?

It'll be May 2025 🙂

Ahaha yes that's what I meant sorry !

It's an overdraft of an account I forgot I had 🤦🏻‍♀️ I think the account is still open does that matter ? Sorry I should have said that in the OP

I'm scared to check incase I inadvertently do something that will restart the clock !

If it's an overdraft then the account it was on is highly unlikely to still be open. At the point the overdraft debt defaulted, the account itself is usually closed.

In terms of the default on your credit file, no action you take will make a difference. It will disappear 6 years after it was placed, regardless of whether or not you've paid the debt.

However, even after the default disappears the debt will still exist. They can still pursue you for it, could still seek a CCJ which would be an even bigger hit to your credit file and would be there for 6 years from the CCJ date.

There is a statute of limitations for how long they have to pursue legal action which is 6 years...and anytime you make a payment or acknowledge the debt, the clock restarts.

How much is the default for op and have you ever paid anything or contacted the bank about it?

It's just over 2k. It was on old student account from years ago. I had moved bank and I'm sure at the time I was moving money over to clear it but I must have stopped at some point and it defaulted. It still says open on my credit file but maybe that doesn't mean the actual bank account ? I think the original overdraft was about 3k so I must have been moving money over at one time

What counts as acknowledge the debt ?

Sorry, wrong thread!!!

I might be able to help answer your question though. A default stays on your credit record for six years, as others have said, but if no attempt has been made to pay it off, it remains "open". It means whoever holds the debt can still pursue you for the amount years down the line and apply for a CCJ. In fact, if you look at posts on the debt forums on moneysavingexpert.com, it's often when the default is removed from a person's file that the debt holder starts aggressively pursuing a CCJ.

Acknowledgement of debt means you tried at some point to set up a payment plan with the bank to clear the balance, or you corresponded with a DCA over it. Do you remember receiving any paperwork about it threatening a default?