Trying to close settlemy credit cards

weewizard69

RAS wrote: »

Who told you that???????????????

The damage you have already done is there for 6 years, whatever you do.

Swapping one set of debt for another debt will make not difference if the value of the debt is the same.

Can we just check something are these 0% deals or have creditors stopped charging interest because you are paying CCJs etc?

RAS,

I was placed into a payment arrangement plan when I was at Uni (2005). They froze the interest and I cut my cards up. The Uni helped me with this.

marty1888

weewizard69 wrote: »

Title shoud read

Trying to close / settle my credit cards

Pedantic............

RAS

So you have been making the payments listed ever since?

The defaults and CCJ will fall off you record in 2011 whatever happens, assuming that is the date of the CCJs as well.

Until then your credit rating will be poor whatever you do.

You would still be mad to take outn this loan.

By 2011, you could have paid off all the debt, have a clean credit record. Even if you cannot pay the debts on the defaulted loans, the bank cannot mark your credit record again.

If you take out the loan you will be in debt until 2014 and if you are get into trouble, you get a nice new default that puts your credit record in jeopardy for another 6 years.

weewizard69

RAS wrote: »

So you have been making the payments listed ever since?

The defaults and CCJ will fall off you record in 2011 whatever happens, assuming that is the date of the CCJs as well.

Until then your credit rating will be poor whatever you do.

You would still be mad to take outn this loan.

By 2011, you could have paid off all the debt, have a clean credit record. Even if you cannot pay the debts on the defaulted loans, the bank cannot mark your credit record again.

If you take out the loan you will be in debt until 2014 and if you are get into trouble, you get a nice new default that puts your credit record in jeopardy for another 6 years.

Yes all payment since arrangement began have been made so from 2005 until presant.

Only 2 of the cards are on default and they happen to be the ones with the lowest outstanding balance. £255 & £305.

Im beggining to see this loan may be a bad move.

Surely each month I keep these open is another month down as default so the 6 year limit becomes another month of if I keep them open?

Rich

debrag

my defaulted accounts were closed once they defaulted and passed onto DCAs that aren't on my report

RAS

Have you even got your credit records to see what is on them?

weewizard69

RAS wrote: »

Have you even got your credit records to see what is on them?

yes for sure.

2 are at default status
3 arrangment to pay
1 in okay standing - halifax normal terms

debrag

i always thought creditors sold on debt and closed accounts that went to default

weewizard69

debrag wrote: »

i always thought creditors sold on debt and closed accounts that went to default

rbs is at default and they still hold the account

yb is at default and they have passed debt onto cabot finance, who have offered £305 full and final settlement

:cool:

debrag

do both these show up as current months?

I have defaults from 2006 and nothing from them after that meaning 6 years later they are gone.

One says 'Current balance: Account closed on 12/04/2006 with an outstanding balance of £462.00'

each time I get a new report that figure goes down