Help with improving credit file

[confused2014]

Hi,

 

A few years ago I ran into some debt and as I was young(er) and stupid,

 

I have sort of buried my head into the sand for a while.

I then tried to put it right and while going through financial problems

I have managed to get into some sort of agreement

with the lenders where I pay £10 a month.

 

The debt is as follows:

- CapQuest Finance - Default Balance £5,572 - Default Date 27 February 2010 - paying £5 monthly

 

- Lowell - Default Balance £1,876 - Default Date 29 January 2010

- this debt arrived from a Argos Card - paying £10 monthly

 

- Barclaycard - managed by Westcot - Default Balance £5,170 - Default Date 31 July 2010 - paying £10 monthly

 

I would really want to improve my credit file

and become more responsible with how we are handling our finances

as in a few years we would like to look into getting a mortgage.

 

I know as things stand I have zero chances of getting anything

but would like to understand what can be done to improve my odds.

 

While I cannot afford paying it all off,

my grandmother has died recently and my grandfather is willing

to sell the house and move into something smaller.

 

He is willing to help me pay some of it,

probably I will get £5-6k IF he manages to sell and downsize.

 

I would like to know if from your experience,

do I have any chance of getting a full settlement offer

accepted with any of these companies/lenders/debt collectors?

 

I was on the phone with someone from Westcot today

and they have advised Barclays will accept £3,300 as a partial settlement,

but the Default will still show on my file for 6 years?

 

Can someone please explain what to these 6 years changes mean?

 

Would the debt be erased from my file 6 years after the default date

(i.e in case of Barclaycard on 31st of July 2016) ?!

 

Because each month there is a D added to my credit file

and I really can't understand what it all means.

 

Or if I was to settle that debt this month it will take 6 years from now on for it not to show on my credit file?

 

I do apologise if I sound confused, truth is I am new to this and ..confused

 

Anyone's input will be really appreciated.

 

Thank you!

[dx100uk]

1st

 

STOP talking to fleecing DCA's on the PHONE.

 

they ARE NOT BAILIFFS

and have

NO SUCH LEGAL POWERS.

 

whatever you do

those debts with a defaulted date will kill a mortgage.

 

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.

 

...................

 

those not shown as being owned by the ORIGINAL CREDITOR

on your credit file

need a CCA request firing off to them.

 

did you ever CHECK that whatever DCA you are currently pay

has the LEGAL RIGHT and the paperwork

to even demand money from you?

 

or did you get spoofed by the silly threat-o-grams

and the phonecall..

a DCA will say ANYTHING to get you paying a debt to them.

 

have you ever looked at RECLAIMING?

PPI and PENALTY charges are all up for grabs

and can easily kill a debt off if the debt is old.

[confused2014]

dx100uk,

 

Many thanks for your reply.

 

I haven't looked at PPI, I need to get my head around it especially with the EGG account. I remember Citi has issued a couple of checks on my name a few months after taking out the loan saying they were refunding the PPI charges, but the Egg card account might be worth a shot.

 

With regards to the CCA, I was wondering what exactly is the point of the CCA request if they are not actually taking me to court? And as long as I have made some payments towards these debts, they can say I have already acknowledged it anyway (just a thought)?

 

Once again, thank you

[dx100uk]

you might have acked the debt

that doesn't mean the CCA is enforceable on you

 

 

esp if they don't have it

 

NO CCA = NO PAY

dx