Old debts soon to be default, pay before applying for mortgage or leave?

[shreddies2]

Hi,

 

 

I have 3 debts with Lowell group totalling to £1,400.

 

 

These debts are default 2nd August 2016.

 

 

I have never made a payment or offered to resolve them.

..knowing how difficult it can be to settle debts.

 

we want to make a right to buy mortgage application in July.

People have advised me to leave it but apart of me thinks leaving this debt un resolved may be bad for our application.

 

My husband has one debt totalling to £108 shown on his credit report.

He has another debt for £400 on an unpaid parking fine.

 

What should I do, leave it or contact Lowell and ask for a settlement and pay it out right?

[dx100uk]

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]

 

 

sorry what are the defaulted dates in the debt summary?

paying will not help your score

nor do any real good.

[shreddies2]

Hi, thanks for reply. The date of default is 2nd August, so they will disappear on this date? I had this debt in 2010.

 

What would you recommend, I have heard never to contact a debt company over the phone, only in writing.

 

Sorry posted too soon. The debt is with catalogue website shop direct. The site I used Marshall ward is now merged with company very. I think obtaining the debt agreement might be difficult for this reason.

[dx100uk]

2nd august what year?

[shreddies2]

It says, status: defaulted on 2nd August 2010 and then the balance

[dx100uk]

then as post 2

 

 

paying wont help any:wink:

[shreddies2]

Oh...well I guess I should leave it? I'm a little surprised....

 

How come my husbands parking fine doesn't show on his credit report?

 

His default balance of £108 still needs to be payed it will be default in 2017, should I write to the debt company asking to settle ASAP?

[dx100uk]

its a fine [council?] they don't show on credit files

 

 

wheres this notion come from that you must pay defaulted debts??

esp if owned by a DCA ..who says its even enforceable?

why do you think the original creditor sold it on?

why didn't they take me to court?

doesn't that even make you think for 2 mins..

they could have crushed little me, a big company like that..

but thy didn't..they sold the debt..urm.. I wonder why....???

 

 

dx

[shreddies2]

its a fine [council?] they don't show on credit files

 

 

wheres this notion come from that you must pay defaulted debts??

esp if owned by a DCA ..who says its even enforceable?

why do you think the original creditor sold it on?

why didn't they take me to court?

doesn't that even make you think for 2 mins..

they could have crushed little me, a big company like that..

but thy didn't..they sold the debt..urm.. I wonder why....???

 

 

dx

 

 

I guess I thought it might look better if there would be some way they could see the debts were settled, but who knows what they see when they take into account mortgage apps and old debt...

 

I read in another thread about someone needing to settled something like 14,000 debt for mortgage reasons....I know mines a lot less but I'm just trying to prepare myself for the application, we plan to apply in July.

[dx100uk]

don't believe everything you read.

you don't know who the people are

[theoldrouge]

I would certainly wait until the end of august and check that the default does not show on any of the 3 CRAs before applying

for a mortgage

[shreddies2]

Ok, I might try and delay the application.

I'm so concerned over this...if our credit is not so great and the mortgage is not excepted due to this, can we go about getting help to buy our flat?

 

I know we can afford it easily on our wages, but how does it work when someone else buys for you due to port credit?

 

Sorry I wanted to say was financing as a guarantor to help us buy....got a huge headache can't think!