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Newbie & His debt!


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Thanks for taking the time to read this!


I recently applied for my credit report from Experian and was surprised to find the information on there was not quite how I remember things, and I was hoping you may be able to advise me a little.


I took out a loan with HSBC, for 1,000 or so and then started to fall behind with payments. I couldn't hold down a job, and they just kept offering me more money to cover the debt I was running up...


Being stupid, I took out another loan with Welcome Finance to cover my HSBC payments and set up a business, but just like with HSBC as soon as I ran into trouble paying back an amount I could never have afforded, they kept giving me more, and more money until I was totally out of my depth...


I then went into hiding, I ignored letters as they were no longer throwing money at me, and I was not able to deal with thier constant threats of court etc...


After years of moving around and racking up small debts everywhere I went, I finally got myself reasonably settled. I cannot afford to pay all my credators, but I am at least happy. (It has come to light that I may have been mentally ill when I took out these agreements as well by the way.)


The credit report shows I have a default by HSBC for 3540,00 which is roughly the final amount I borrowed from them. This clears in Nov 09, so I am not too worried about it...




The Welcome Finance loan which was also around 3540,00 in the end, says it is also a default, and although it claims it is satisfied, it was last amended in 2008, the default notice however was given in 2004, so which one is the six year timetable from?


I suppose my question is, reading the above, can I get them to remove the default, and/or have it removed completly, I was ill, and the amount of money and cost to pay back was never within my price range, which they full well knew....

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Moving thread into the Debt Forum.

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the default notice however was given in 2004, so which one is the six year timetable from?

It drops off six years from the first default (2004), five years if you live in Scotland.


Trying to get it removed earlier could open a whole new can of worms & be extremely difficult. Would it be worth it for a matter of another year?

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