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Defaults and my credit file


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Hi everyone.......

 

I'm after some advice. I have 2 defaults on my credit file......One registered in April 2008 and the other in August 2009. I haven't been contacted recently about them and there is no court action taking place......yet!!!! Do I wait and see what happens with them and see if court action is pursued or do I wait and see if they 'drop off' my credit file??? I have thought about offering a full and final settlement but as I'm nearly 4 years in with one default, I realise that by contacting the company the whole 6 year Credit Cycle starts again! Advice would be really appreciated as I'm now maintaining mortgage payments and making payments regularly on a credit card and I really want to clear up my credit rating.

 

Many Thanks

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Hi

Don't worry about the defaults going on for longer than 6 years-they won't. Once a default is placed, that is it. Any contact does not mean the default will go any longer. Admittance of any debt (in writing) or any new payment will restart the Statute Barred clock though

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So what is my best course of action with this??? Do I just wait and see whether they start any court action against me?? I've read various threads on here and I really want to become 'credit worthy' again but just waiting to see whether over the next 2 -3 years these debts just disappear off my history without me making any contact with my creditors doesn't seem right but as I'm over 4 years into the 6 year time frame with one debt.....I don't particularly want to start the whole 6 year cycle again!!!!!!

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