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I am planning to settle all my debts with various creditors, but want to be sure that I go about it the right way, to ensure that my credit file shows the most accurate (if not the best) picture of my situation.

 

Is there anything I need to obtain from various creditors apart from a letter confirming that the account has been settled?

How long does it take before my credit file reflects these changes?

 

Thanks,

M

 

P.S. Need advice on more thing, please: I have a CCJ entered against my name for school fees that weren't paid from many years ago. The CCJ was entered in 2013or 14 in my absence. I understand that the CCJ would be removed from my file after 6 years, but does it help my credit file if I make a full payment now? Or shall i just leave it as it is.

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Wont help

Neither Will blindly wasting money settling debts esp if they have defaulted date

Go have a holiday with it


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Hi dx, thanks for your reply.

 

I have two accounts that have defaulted according to Noddle.

I am looking at paying them off particularly the larger amount of approx 9k because I worry that they will come back with a CCJ! :-/

 

I am literally moving mountains to clear my debts so that I can plan to buy a house in the next five years. :-(

Edited by dx100uk
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Tell us the full hisory of each


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One is an HSBC loan approx £9000 which defaulted in december 2012.

 

I have done the CCA request etc. and they have replied saying they will come back to me with the original agreement.

 

No activity on this but periodic letters from ARROW stating that they are still trying to retrieve the documents.

 

I called them this afternoon hoping to pay it off fully but their payment software crashed or something, they said they will ring backl.

 

The other is HSBC credit card of approx £1600 which was sold to INTRUM.

 

Defaulted in october 2013.

 

I have not contacted this company in any way.

 

P.s. sorry about the reply with quote. Just noticed your signature. :)

Edited by dx100uk
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woe where have you EVER read on CAG that you ring a fleecing powerless DCA??

HSBC loan will go from your file on the defaults 6th birthday never to return.

if and WHEN they ever get back to you by LETTER including what they CLAIM to be an enforceable CCA return you scan it up here 1st!

do not ever converse on the phone..a DCA is NOT A BAILIFF.

and have ZERO legal powers.

 

might pay you to sar HSBC lets findout why the really sold the debts on for 15p=£1.


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Have i messed it up for myself by calling them??? :(

I have read somewhere that telephone contact can reset the six year clock!

 

As for SAR to HSBC.... to be honest, I was hoping to be debt free by the new year, and I feel that SAR may prolong this again. :(

 

Can I SAR LINK financial as well? They have my ford credit hire purchase account with £3500 approx left to pay.

 

If I pay these accounts off, will it improve my credit profile? And if I SAR and such then wont I just go back to whjere I was earlier: that worrying limbo of uncertainty about when these guys will restart collection process! :((

Edited by dx100uk
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no verbal cant reset it. just forget it happened

 

god you got link as well, biggest fleeecers out there

 

so I take it you fell for their threats too.

an sar goes to the original creditor only.

 

have you sent Plink a CCA request?

 

as for being debt free? why...as I said if the debt is defaulted wont improve your credit file by anything.

 

 

why do you need to be debt free?

 

dx


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I was hoping to be debt free by the new year so that I can give myself a year or two to plan and look into purchasing a small house. 😊

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I've sent link a CCA request but they sent me a whole bunch of docs which I think I uploaded here and then lost the thread...

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Just click your username

Its here..

Go update it..with you now want to settleit

https://www.consumeractiongroup.co.uk/forum/showthread.php?408688-Link-and-old-Ford-Credit-car-agreement-debt&p=5102250#post5102250

 

Dx


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ok use this thread for the HSBC debts only

 

any other you are blindly thinking of paying off.

 

dx


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Single Premium PPI Q&A Read Here

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The CAG Interest Tutorial Read Here

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I've paid off the debts that have not defaulted on...one of them I have NOT paid, yet because they have offered me a discount (£550 down to £270); however, I am worried that if I pay the discounted amount, they will mark it as "partially settled". The guy on the phone said that it won't be marked that way unless the debt has defaulted. :-/

 

The debts that I am struggling to make a decision on are:

 

HSBC loan: £10,000

HSBC credit card: £1700

LINK: £3500

CCJ entered against me in absence by private school for non-payment of school fees: £1700

 

I know you think I am blindly paying off debts, but I am doing this in the hope that it will give me a clean slate to build up a credit history in the next two years so I can at least try to purchase a house.

 

Is there any advantage to meeting with a FA or someone ?

 

Sorry for all the questions!

And thanks for your thoughts, everyone/! :)

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you need to slow don't

stop blindly paying people KEEP OFF THAT PHONE!!..esp to DCA's and their dogs.

why do you think people are offering discounts..think about it..wow free money, well let seal the deal by offering a discount.

 

 

keep the link stuff to that thread please

 

as for partial settlement

if the debt is not defaulted then yes PS will be there are 6yrs and yes they do sell debts on again.

there is little point in paying any debt that's already got a default..go burn the money, it will NOT improve you credit, the availability to get at all.

 

school fees CCJ have you been paying this todate?


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Single Premium PPI Q&A Read Here

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The CAG Interest Tutorial Read Here

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School fees CCJ... havent paid anything into that. Thoughts on this?

 

My worry with these defaulted accounts is that (in my head) they will stay open and I don't want the uncertainty of creditors suddenly chasing me again for payment maybe two years down the line. :-(

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your 'goal' is to get your credit file looking good so you can get a mortgage.

as already said several times, and in numerous threads here with you since you joined in. 2010....

 

a CCJ stays on your file for 6yrs then vanishes

a defaulted account stays on your file for 6yrs then vanishes.

 

yes that DOESNT means the debts are dead, but, if no-one is kicking your pram wheels on any debt that covers the above

THEN DONT KICK THEIRS.

 

once the debts that DONT fall under the above are dealt with ….THEN we can look at the above ones.

 

again just to make things clear...PAYING OFF a defaulted debt or a debt subject to a CCJ ...will NOT improve your mortgage chances. paid off or not, marked as satisfied or not ...a default or a CCJ will kill a mortgage application.

 

 

so for the minute concentrate on those debts that ARE NOT DEFAULTED NOR HAVE A CCJ, but show on your credit file...

 

and these are:


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Single Premium PPI Q&A Read Here

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"kill a mortgage application"??

So is this pointless? Am I doomed to an existence of renting ?

 

The other debts have all been paid off and closed by me over the last few days. Bar one,which I will pay off this weekend. The one with £550 discounted to £270

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you need to read things carefully.....

 

any CCJ's/defaults go after 6yrs...so..

 

whats this £550 debt you are thinking of blindly paying..

full history please


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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

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regarding the HSBC debts (loan and credit card), do I need to SAR HSBC for these?

The default on the loan would reach six years on the 18th of december I think.

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right I REALLY do wish you'd stick to one thread per debt!!

 

HSBC Loan

 

the hsbc is subject to a stay that's been inplace since sept 2016

https://www.consumeractiongroup.co.uk/forum/showthread.php?468077-Arrows-restons-claimform-HSBC-Loan-Can-I-avoid-it

 

last payment was 2012.

 

 

hsbc credit card

 

https://www.consumeractiongroup.co.uk/forum/showthread.php?471715-unknown-Hoist-CCJ-for-HSBC-Credit-card-set-aside-help-please&p=5145705#post5145705

 

they got a CCJ in 2014

you've paid it off already

but the CCJ should still be showing till 2020?

 

is this showing on your credit file in the public info judgement section?


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

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

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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

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regarding the HSBC debts (loan and credit card), do I need to SAR HSBC for these?

The default on the loan would reach six years on the 18th of december I think.

 

This debt will be off your credit file in a few weeks and invisible to any mortgage company.

 

My experience with around 30k of HSBC debt. They never sold the debt and never went for a CCJ, the debts are now many years past Statute Barred and nothing has ever happened. Their debts were loaded with PPI and illegal charges anyway.

 

If you really want a mortgage , it can be done, I was in a far worse situation than you, and now own a house. Just Listen to DX100.

 

Your CCJ will also be invisible to mortgage lenders, even if you don't pay it, by it's 6th anniversary. Once a CCJ is more than a year old there are mortgage companies who will lend anyway, whether it is satisfied or not.

 

DX100 is right, paying defaulted stuff off makes zero difference to your Credit Score.

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Hi London1971...Thanks for your message. It's reassuring to hear from someone who has been in a similar (possibly worse!) situation. :)

Edited by dx100uk
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DX100 is right, paying defaulted stuff off makes zero difference to your Credit Score.

 

But it can influence a lender's decision on whether it lends you money or not.

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This debt will be off your credit file in a few weeks and invisible to any mortgage company


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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