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Wirral_Guy

Repaying after Defaults

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Hi

 

I guess this may sound a bit basic for many on here but I am very confused about what my best course of action would be. I have been searching for over an hour but getting more confused by the minute.

 

I have a couple of defaults registered on my credit file for a loan and credit card from when I was made redundant.

 

The dates of default are in 2008 and early 2009 and so i believe would come off my credit file in 2014 and 2015 (so within 2 years give or take a couple of months).

I have not heard from the Debt Collectors - MKDP for a number of years but have move addresses a few times.

 

I have recently set up my own company and should very soon be in a much better financial position in order that I could afford to settle the debts

(in full or part - i believe 60% is generally accepted?) - but will this really help me with regards to obtaining credit over the coming couple of years?

 

So what would you do?

 

Continue to bury your head in the sand and wait for the debts to fall off your credit file in 2015 / pay in full / make an offer of 60%??

 

Does a settled debt improve matters to the point it is worth contacting MKDP myself to make an offer??

 

Thanks for any advice - and correcting me if my understanding of the options is wrong. :lol:

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what were the org debts?

 

not welcome finance were they?

 

dx


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Certainly a satisfied default is better than those left to expire, but the entry will still remain on the file for the balance of the 6 year period.

 

Have you been through the process of confirming that the debts are enforceable?

When making F&F offers to DCAs it is wise to start at a very low level (10%) as a first offer to give you room to negotiate, as a DCA will jump at a high offer and go away laughing at the unexpected profit.

 

Also the offer should be conditional on the marking of files satisfied (not partially) or better stil removal of all data from files.

 

It should also be clearly specified that any remaining balance is NOT to be sold or assigned to any 3rd party.##

 

Never send any payment in the hope it will be accepted as F&F,, it wont be, you must have unequivocal written agrement is accepted and the conditions stand.


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Original debts were a loan and credit card via my bank at that time - so no, not Welcome Finance.

 

Brigadier - i havent gone through the process of confirming that the debts are enforceable yet.

 

I thought i'd ask here before making any sort of contact with MKDP LLP to be better aware of the process I go through with them.

 

I wasnt aware that I could negotiate to have removal of all data from my Credit File

- would that just be a written agreement that I could look to negotiate into the deal with MKDP

then on the assumption that the debt is enforcable (which from what I have read they probably are)?

 

I'll certainly make sure any agreement is down in black and white before paying a penny then - thanks for that.

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pers i'd sar the bank then

get all the paperwork

 

there is a REASON why they sold them.

 

PPI?

PENALTY charges?

Paperwork?

 

find it.

 

it could be useful

 

dx

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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