Advice please ref defaults

[leannez]

Hi All

 

ok im after some information if you could kindly oblige.

 

In my younger days i was very irresponsible and naive and took advantage of every credit opportunity available to me. As a consequence i incurred several defaults (8) many of which i have satisfied (6) im now left with 2 showing as unsettled. Over 4 years ago my credit was terrible so i buried my head in the sand,moved and didnt inform my remaining creditors (i know this is terible and irreponsible) and took the stance that id never apply for credit again then today i checked my credit score and was surprised to see that the state of defaults was not as bad as i had thought.

 

There are 2 remaining unsettled one for welcome finance which i originally took out for £2500 the balance now shows at £7500!!!! obviously this is due to charges?? £5000 in charges?!! there is no way i can even begin to afford this ( baby and made redundant during maternity leave in june) and im worried they will try to enforce me to and not negotiate it back to original balance ...so the default date is 2007 ...defaults im led to believe last 6 years? my question is after the 6 years lapse (2012) will this drop off despite being unsatisfied? and will it affect my score if its dropped off and unsatisfied?

 

im tempted to leave it until then as if i enter an agreement with them now it will remain on there until paid? and il have to pay the full balance?

 

 

sorry for the ramble i hope you can help

[leannez]

oops the smiiley face wasnt intentional!

[PGH7447]

after 6 years they drop off, and they become statute barred so they cant chase.

 

however by checking your credit file, you may well have woken the sleeping beast and can expect in the near future to be bombarded by debt collection agencies

[leannez]

after 6 years they drop off, and they become statute barred so they cant chase.

 

however by checking your credit file, you may well have woken the sleeping beast and can expect in the near future to be bombarded by debt collection agencies

 

 

im hoping not.i used the address which i had when i had the debts ive moved twice since and im not on the electorol.....this is also bad i know

[leannez]

thankyou for yur reply also.so there will be no info that anyone can see those details after the 6 years elapse and they drop off?

[leannez]

Also 1 more question i used experian is it safe to say that all credit reports from other companies will show same info or am i likely to find more on other companies credit reports ?

[maroondevo52]

Hi,

 

Yes, after 6 years, the Defaults will drop off your file, regarding the other CRA's I think they can differ in what they have on you as I believe certain companies do not use them all.

 

Regards.

 

Scott.