I took out car finance for around £3000 on 11 September 2005 and kept up the payments until January/ February 2006 when I lost my job and they refused to honour the payment protection as I had been sacked. I had no contact with Lloyds/ Black Horse from around April 2006 and have not acknowledged the debt in any way. On my credit report it says that they reported the default on 15/09/2009. 4 years after the original finance was set up and 3 1/2 years after the debt was last acknowledged, is this legal? I am currently looking to buy a new car and I am worried that this will stop me.
Default after 8 years?
