Defaults - PLEASE HELP!

mn83

Hi,

I took advice from a company that offer to sort out yor debt - a big mistake i now know! This was about 2 years ago, after a couple of months i took over the process myself and agreed reduced payments. I did however receive 3 defaults and have 2 arrangements to pay in place against credit cards. in August 08 i agreed settlements with the 2 loan companies and a bank for an overdraft which now means that the 3 defaults are paid.

The problem is i can not move home because Nationwide have declined us. We are well within the affordability an my partners credit rating is perfectley fine.

Does anyone have any advice on what i can do to sort out my credit file? I thought that settling the defaults would help but obviously not! I have thought that maybe trying to pay off the credit cards so that the arrangements to pay are clear would be the next best solution. I have also thought about writing to the loan companies and the bank to ask if they would remove the defaults as they are now paid could be an option - but im not holding my breath!

wanna-be-mortgage-free_2

Hi there
You can write to the credit reference agencies and ask them to put a note on your file explaining that the defaults have been paid. This sometimes gives creditors a better picture and shows you are managing your debt.
HTH

~Beanie~

You will struggle with defaults on your file, even if they are settled. And you still have arrangements in place to repay credit cards as well, I would definately settle these before trying to get a mortgage.

I doubt they will remove the default either, they will usually only do this if they were applied inappropriately in the first place, which they weren't.

sm08phy

i had 9 defaults on my credit file, after several letters to the various lenders i now have only one left! check this link out, i worked for me, i have also managed to remove the one ccj i had and several searches that i did not authorise and linked address that were not true! my credit score is near perfect now!

sm08phy

http://www.learnmoney.co.uk/credit-cards/badcredit.html