Unless you have had confirmation that the debt is written off it is still enforceable, the original creditor or the assigned debt collectors have the legal right to pursue and chase recovery of this debt for a period of Six years from the date of the last payment or acknowledgement.

After this period expires; the debt would become statute barred under the limitations act, unless they successfully obtain a CCJ within this said Six year period.

You could find it raises it's ugly head at any unexpected time to haunt you, on the other hand if you don't hear anything by it's Sixth anniversary you could consider it irrecoverable, hence treat it as such under the Six year rule, unless a CCJ is applied for in the meantime.

Hi

I need advice on credit reporting and debt assignment. I had a loan from my bank originally opened in 2006 that i could no longer pay due to financial difficulties. The bank charged off the debt and settled the account as up to date and closed on my credit report. I was then chased by a collector agency and failed to agree on a reasonable payment scheme.

I havent heard anything from them since and no updates have been put on my file. This has been the case for a year now and nothing?? The debt no longer exists according to the reports and yes I have checked all three available for the UK.

I havent heard anything since and are wondering if the debt has been written off? Does anyone know anything about this or experienced similar thing?