Skip to main content
Apply Now

It’s considered that the longer the length of time you have a bad debt record, the harder it is to improve your credit. It can be quite problematic.

So, how long will it be before you aren’t liable for legal action? Especially as it will become harder and harder to get any credit in the future while this is in place.

Some credit companies may try to keep the report longer, but any debt on your record is legally able to remain for a period of six years. So, you need to workout what the companies are doing in order to be one step ahead of them…

Once the account has gone into into delinquency, a black mark will appear against your name and if you don’t make any payment arrangements, become bankrupt of have any other legal action happening, this debt will remain delinquent for up to six years.

This is where things can be complicated (court claim a debt explained further)

A creditor can refresh the debt on your report if they contact you near the end of the six years. i.e. if you have a debt on your record for five and a half years and there’s been no contact. They may only have to contact you for it to be refreshed.

The best way forward to consider, is to just not acknowledge the debt and decline any knowledge. Do not look into it or agree to it at all.  Try to say that you have no idea of what they are referring to and simply put the phone down quite sharpish.

When you reach six years, you need to immediately contact the credit reporting agencies and ask to remove the debt from your credit report.

We offer Debt Consolidation Loans for homeowners.

Our team is on hand to help with number of questions you may have.

If you are struggling with debt, please visit Money Advice Service for help and advice.

We are a broker, not a lender.

Visitors also read:

Coronavirus Debt | Debt Consolidation LoansDebt Solutions
April 2, 2020

Coronavirus Debt

With COVID-19 Coronavirus affecting everyone's lives, you might find that your financial situation isn't quite as secure as it was. Perhaps you felt that you were managing your loan and…
Need to Buy a New Car - I have Debt | Debt Consolidation LoansDebt Consolidation
September 9, 2020

Need to Buy a New Car – I have Debt

Need to buy a new car but have Debt? Debt Consolidation Loans can help and advise when you need a new car and have debt, so speak to our team…
How Does A Debt Management Plan Work?Debt
October 25, 2020

Debt and Financial Stress: What Causes Financial Stress?

How to Find Relief from Debt and Financial Stress From student loans to mortgages and other kinds of personal loans, debts and financial issues can cause a lot of undue…
Buy Now Pay Later Schemes Under ReviewPolitics
January 31, 2021

Buy Now Pay Later Schemes Under Review

Buy Now Pay Later Schemes Under Review The (BNPL) schemes are encouraging young people to buy more than they can afford and Labour MP, Stella Creasy, is calling for a…
Man and woman worried about debts and thinking about a debt management planDebt Consolidation
September 1, 2020

Is a Debt Consolidation Loan Right for Me?

Lots of us experience debt at some point in our lives. In fact, over half of UK adults went into 2020 with personal debt, a number which is sure to…
UK Debt Statistics Are You to be Affected | Debt Consolidation LoansDebt
March 6, 2020

UK Debt Statistics Are You to be Affected

Are you affected according to the Office of National Statistics, UK residents are in £119 billion of household debt. This doesn't include mortgage debt but does include everything from credit…

Leave a Reply

3 × one =

Close Menu