I have the chance to pay defaults on my credit account. Should I?

[Arksmith]

Hi,

I was hoping to find a little advice on what to do with my defaulted accounts.

 

 

I have 4 defaulted accounts that were passed to debt collection agencies after I lost my job and buried my head in the sand.

 

 

I have been paying a token amount to the agencies to stop the letter.

 

 

The defaults are as follows:

 

Bank Account: £1083 - Defaulted 21/06/2013

Bank Account: £1399 - Defaulted 27/06/2014

Phone Contract: £420 - Defaulted 05/03/2013

Student Credit Card: £415 - Defaulted 27/08/2013

 

Total Amount: £3316

Experian Credit score: 502 - Very poor

 

Recently I have had some good fortune and I able to pay these debts in full but I am confused as to whether I should or not.

 

 

The questions I have are:

 

 

1.Will paying the debt in full mean it changes the default date

and pushes me back in terms of getting a clear credit rating?

 

 

2.If I pay the debts in full am I able to improve my credit score within the next 5-6 years

ready for when the defaults drop off my account or is there nothing I can do until they do?

 

 

3.When is it likely I could be accepted for a mortgage and are there any steps I can take that will help?

 

I'd appreciate any help you guys can throw at me.

[i hate bailiffs]

The defaults WILL still show for 6 years from the default date

Time to cca request for credit card

And sar to do any reclaiming

[dx100uk]

1. no

2. no

3. once each default and thus the whole account vanishes from the CRA files

 

 

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

 

 

dx