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  • FIRST POST
    • Kendogmcfc
    • By Kendogmcfc 11th Jan 18, 11:28 AM
    • 6Posts
    • 0Thanks
    Kendogmcfc
    Bad Debts, need help
    • #1
    • 11th Jan 18, 11:28 AM
    Bad Debts, need help 11th Jan 18 at 11:28 AM
    Hi All,

    I have been ignoring things my whole life on the basis that eventually they will dissapear.
    In 2014 i got in a lot of debt, and struggled to pay things off since, some i have just ignored.
    I got loads of stupid things on brighthouse, which are now paid off.
    I got loads of loans, and didnt pay them.
    I was in a mess

    Since i meet my partner in 2015, I have been excellent, but my past is starting to catch up with me.

    I have received two letters this week, one from BPO collections for a loan in 2014, they want £590 for a £200 loan
    One from BW legal for a loan in 2012, for £499.
    How should i proceed, i dont have the money to pay it back, they are not on my credit report from clearscore. the ones that are i have made consious effort to pay off over time.

    My partner doesnt fully understand how bad i used to be, and not that we have a baby i have been making efforts to improve my credit profile in the hope to buy a house in 3/4 years.
    I have got a credit card in september which i pay off each month, and took out a mobile phone contract which is also paid in full each month. Plus utility bills and im on the electoral roll and have been for several years.

    Please help me to navigate this

    Michael
Page 1
    • zx81
    • By zx81 11th Jan 18, 11:35 AM
    • 14,860 Posts
    • 15,687 Thanks
    zx81
    • #2
    • 11th Jan 18, 11:35 AM
    • #2
    • 11th Jan 18, 11:35 AM
    First thing is to find out the status all your debts - how old, how much, who.

    Check all three files and then report back.
    • Kendogmcfc
    • By Kendogmcfc 11th Jan 18, 11:37 AM
    • 6 Posts
    • 0 Thanks
    Kendogmcfc
    • #3
    • 11th Jan 18, 11:37 AM
    • #3
    • 11th Jan 18, 11:37 AM
    I should of listed this, it does say on the letter, one is Speedy Cash, and the other is Payday UK.
    And the original agreements are 04/2014, and 11/2012.
    The status are i havent paid them back, and if you want my honest assesment i forgot about them, and havent heard from them until now.
    • zx81
    • By zx81 11th Jan 18, 11:40 AM
    • 14,860 Posts
    • 15,687 Thanks
    zx81
    • #4
    • 11th Jan 18, 11:40 AM
    • #4
    • 11th Jan 18, 11:40 AM
    Defaults will be on your credit files for 6 years. If the lenders decide to pursue and again a CCJ, it's another 6 years.

    Speak to them and arrange a repayment plan.
    • Candyapple
    • By Candyapple 11th Jan 18, 11:43 AM
    • 2,513 Posts
    • 1,877 Thanks
    Candyapple
    • #5
    • 11th Jan 18, 11:43 AM
    • #5
    • 11th Jan 18, 11:43 AM
    The free versions to check your credit files are below:
    Experian: www.moneysavingexpert.com/creditclub
    Equifax: www.clearscore.com
    Call Credit: www.noddle.co.uk


    List all defaults/CCJs.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • Tarambor
    • By Tarambor 11th Jan 18, 12:03 PM
    • 1,927 Posts
    • 1,376 Thanks
    Tarambor
    • #6
    • 11th Jan 18, 12:03 PM
    • #6
    • 11th Jan 18, 12:03 PM
    Hi Michael.
    Nothing to add other than judging on what you've achieved so far and what you've put in place I think you'll be OK. Get the arrangement plan in place but make sure it is at an amount that is going to be affordable to you and not lead you to struggle and end up going down the same path again.

    Think of that period of your life as a lesson learned never to be repeated. Better to do it then than do it when you're older and your family commitments are larger than they are now.
    • Kendogmcfc
    • By Kendogmcfc 11th Jan 18, 12:09 PM
    • 6 Posts
    • 0 Thanks
    Kendogmcfc
    • #7
    • 11th Jan 18, 12:09 PM
    • #7
    • 11th Jan 18, 12:09 PM
    My credit rating is shocking, i just went onto the Credit club webpage it is 201. and these things are nto showing on there, which is worrying, but there is a CCJ from 2014, that i have no idea if it settled or not? i have posted the below, what should i do?

    I honestly cant see why my rating is as low as it is, it only has 5 accounts all not overdue or default, and 2 closed accounts with a nil balance


    Details of Record

    Information typeJudgment Court nameNORTHAMPTON COUNTY COURT Discharged date - Case numberA1JR4747 SourceRegistry Trust Ltd Entry codeJ1 Date 24/10/2014 Amount £558.00
    • Sncjw
    • By Sncjw 11th Jan 18, 12:14 PM
    • 1,544 Posts
    • 936 Thanks
    Sncjw
    • #8
    • 11th Jan 18, 12:14 PM
    • #8
    • 11th Jan 18, 12:14 PM
    Have you checked Noddle
    • cjmillsnun
    • By cjmillsnun 11th Jan 18, 12:14 PM
    • 411 Posts
    • 274 Thanks
    cjmillsnun
    • #9
    • 11th Jan 18, 12:14 PM
    • #9
    • 11th Jan 18, 12:14 PM
    Ignore the score. Lenders donít see it. They see the history and they WILL see the CCJ.

    The CCJ will also be why the score is low.

    The CCJ will be on file until 24/10/20

    MSE credit club only gives you one credit reference agency (Experian). There are another 2 major agencies (Equifax and Call Credit)

    To get a full history you need to review all three

    For Equifax use Clearscore and for Call Credit use Noddle. Both are free.
    • Kendogmcfc
    • By Kendogmcfc 11th Jan 18, 12:14 PM
    • 6 Posts
    • 0 Thanks
    Kendogmcfc
    Hi Michael.
    Nothing to add other than judging on what you've achieved so far and what you've put in place I think you'll be OK. Get the arrangement plan in place but make sure it is at an amount that is going to be affordable to you and not lead you to struggle and end up going down the same path again.

    Think of that period of your life as a lesson learned never to be repeated. Better to do it then than do it when you're older and your family commitments are larger than they are now.
    Originally posted by Tarambor
    thank you, i will contact these, and put something in place.
    I dont want to let my family down, and have this build up, is there a way i can negiotate a lower amount?
    • elsien
    • By elsien 11th Jan 18, 12:18 PM
    • 15,620 Posts
    • 39,407 Thanks
    elsien
    Don't contact them by phone though. You need a trail and if they get a contact number there's a fair chance they'll harass the life out of you.

    Information in full and final settlement offers.
    https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
    • Kendogmcfc
    • By Kendogmcfc 11th Jan 18, 12:18 PM
    • 6 Posts
    • 0 Thanks
    Kendogmcfc
    Don't contact them by phone though. You need a trail and if they get a contact number there's a fair chance they'll harass the life out of you.
    Originally posted by elsien
    I didnt think of this, should i communicate everything by mail or email?
    • Kendogmcfc
    • By Kendogmcfc 11th Jan 18, 12:41 PM
    • 6 Posts
    • 0 Thanks
    Kendogmcfc
    Update on this, I have ran my report on Noddle, and although my score is still shocking 500/710. These accounts show on my record, but as settled with a nil balance?

    Should i still contact the debt collection agencys?
    • DCFC79
    • By DCFC79 11th Jan 18, 1:05 PM
    • 30,595 Posts
    • 19,351 Thanks
    DCFC79
    I didnt think of this, should i communicate everything by mail or email?
    Originally posted by Kendogmcfc
    If it were me I would do everything by mail.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • DCFC79
    • By DCFC79 11th Jan 18, 1:08 PM
    • 30,595 Posts
    • 19,351 Thanks
    DCFC79
    Update on this, I have ran my report on Noddle, and although my score is still shocking 500/710. These accounts show on my record, but as settled with a nil balance?

    Should i still contact the debt collection agencys?
    Originally posted by Kendogmcfc
    Have you checked Noddle ?
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • Gary_Dexter
    • By Gary_Dexter 11th Jan 18, 2:12 PM
    • 361 Posts
    • 197 Thanks
    Gary_Dexter
    Have you checked Noddle ?
    Originally posted by DCFC79
    I believe he did..

    Do you mean Clearscore?
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