Statute Barred Loan

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Betty1234

Registered User
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Hi Guys,

Not sure if this is the right forum so apologies if not.

I have a loan from the CU that is currently statute barred. I recently ran a credit check from the new central credit registrar and the loan is on it and what I am wondering is will it stay in there until paid off or is there a time limit on that?
 
Are you in a position to pay off the money the Credit Union and its members gave you, even over time ?
 
Hey,

Yes I would be however it will take me a few years.

My debt was written off by the CU about 8 years ago and they advised me that it would not be on my credit report as they were not part of the icb however now that the central credit register has come in the loan is now showing.

I am just wondering what will happen if I am not in a position to pay it. Will it stay on my report?
 
I'm sure it will as it was an unpaid debt eight years ago, this is the purpose of the register, it seems you have not made efforts over the past eight years although you now say you could pay it but it will take a few years, see if the CU will amend the record as your circumstances have improved, you can pay something and you don't want them or their members to be at a loss, worth a try,
 
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