Defaults, Arrangement to Pay and Settled dates.

[kconroy]

Hi,

 

I am currently in the process of beginning to tackle my debts and clearing up my credit file,

with the end goal of getting a mortgage, admittedly in a good few years!

 

 

I have a number of defaults from payday loans which are due to fall of my credit file in 2-3 years.

However, I have been considering entering a DMP or TDP with a debt charity.

However I am unsure if this would just mean the debts would be visible on my credit file for longer.

 

If I enter a arrangement to pay with any of the creditors that have registered a default, will that just start the 6 year countdown again.

So instead of falling of in 2 years, will it then mark as AP for a further 6 years from the date I entered the arrangement.

The same with satisfied, or settled defaults, will it be 6 years from the date of being satisfied.

 

Basically, by agreeing to repay the debts am I going to have a black mark on my credit file for longer than if I just wait for them to fall off?

 

Any advice would be much appreciated. Thanks in advance.

[fkofilee]

No, its 6 years from the Default date. So 01/01/2010 drops off Jan next month.

If already defaulted, AP wont happen i believe.

 

I wouldnt pay for now. Would you list your PDL debts for me... I have an idea that might help you out.

 

I need;

 

- Lenders

- Amounts

- When Taken

- With DCA / OC

[dx100uk]

paying your debts if they are already defaulted is like burning money in some instances

if the debt is default, theres nowt you can do to improve your file

 

 

rather simply prevent further damage caused by non payment

each debt is always a diff story to the next as to what you do

 

 

dx

[kconroy]

No, its 6 years from the Default date. So 01/01/2010 drops off Jan next month.

If already defaulted, AP wont happen i believe.

 

I wouldnt pay for now. Would you list your PDL debts for me... I have an idea that might help you out.

 

I need;

 

- Lenders

- Amounts

- When Taken

- With DCA / OC

 

Thank you for your reply;

 

1. - Lenders: Myjar

- Amounts: £482

- When Taken: 26/09/2011

- With OC

 

2. - Lenders: Payday UK

- Amounts: £375

- When Taken: 10/11/2011

- With OC

 

3. - Lenders: PRA Group

- Amounts: £908

- When Taken: 10/11/2011

- With DCA

[dx100uk]

doubt PRA group [aktiva capital] is a PDL debt?

[kconroy]

paying your debts if they are already defaulted is like burning money in some instances

if the debt is default, theres nowt you can do to improve your file

 

rather simply prevent further damage caused by non payment

each debt is always a diff story to the next as to what you do

 

dx

 

Thanks for your response.

 

My worry is,

if I do not make a payment and attempt to wait it out,

can the creditor then apply for a CCJ with a few months remaining on the default

and that will then show for another 6 years.

 

 

Also, the creditors do not have my current address

but for fear of them registering a CCJ and missing court papers,

would I be best updating them with my new address

or would I just create more problems for myself?

[kconroy]

doubt PRA group [aktiva capital] is a PDL debt?

 

It has "advance against income" next to account type.

[dx100uk]

It has "advance against income" next to account type.

 

 

PDL then yes

[dx100uk]

Thanks for your response.

 

My worry is,

if I do not make a payment and attempt to wait it out,

can the creditor then apply for a CCJ with a few months remaining on the default

and that will then show for another 6 years. - the default goes regardless, but a CCJ would thus show for 6yrs IF any got one. [rare for PDL's]

Also, the creditors do not have my current address

but for fear of them registering a CCJ and missing court papers,

would I be best updating them with my new address

or would I just create more problems for myself?

 

 

that's a diff one. so you've not got reliable mail collection from old address?

 

 

have yo investigated irresponsible lending?

[fletch70]

The PRA debt , do you have records of it, I doubt very much if they were the original lender as PRA are not licenced for such things

 

Have MyJar actually defaulted you , if so when and when did you actually default on the payment, I am currently giving them hell over a default they are threatening to place 3 1/2 years after I defaulted

 

There is always a danger that they could get a ccj , even after the default has fallen off if there have been payments so it is wise to keep records up to date

[fkofilee]

Okay Is it Wonga or Quickquid for PRA? ... They are really the only 2 that they deal with.

 

Can you tell me about the Circumstances of the loans... I want to see if we can get a case for irresponsible lending.