Post Reply
Posts: 1
Joined: 23 Nov 2017 23:02


Post by Simon291 » 23 Nov 2017 23:06

Hi can anyone help, I'm currently paying payments to PRA group because of a loan I had around 10 years ago with a company called welcome finance, 1. Is this likely to be correct as I'm sure the company went out of business? And secondly when I check my credit file there is no record of this loan on there can anyone please tell me why this is? Kind regards Simon

User avatar
Posts: 2008
Joined: 10 Nov 2014 14:42
Location: Nuvion


Post by Michelle » 24 Nov 2017 12:36

PRA Group are debt purchasers so they would have bought the debt from Welcome Finance, therefore it is irrelevant that them, as the original creditor, have gone out of business.

Regarding your credit file, defaults drop off 6 years after they are recorded, they don't stay there forever. However, if you have been making payments, this debt wouldn't be statute barred.

One thing you could do if you wish to challenge this debt is send a CCA request to PRA Group, chances are, they won't be able to respond.
Listen very carefully, I shall post this only once:
Anything posted by me is from my own knowledge and experience, it is not legal advice or the official views of this forum.

Knowledge is Power.

Post Reply