Newbie seeking advice

JBBoldman

Hello all, I have used the search option to try and find previous threads linked to my queries, but as I'm sure you will all be aware, most people circumstances all seem slightly different to your own.

With that in mine, I apologise in advance if you read something here that you have answered for hundreds if not thousands of other people elsewhere.

There are a couple of different parts to my queries so will list them as clearly as possible.

Firstly my debt problems started about three years ago. After I seperated from my now ex-wife, I defaulted on my mobile phone bill, my bank account overdraft, my credit card with my bank and my home communications provider.

My bank (Halifax) closed my account and wrote the debt off, Halifax CC employed Blair Oliver Scott to collect the debt, my phone company (Orange) employed Moorcroft Financial solutions to collect the debt and Virgin Media employed Direct Lecal Collections to collect the debt.

I sought help from the Citizens Advice Bureau and we agreed with them a monthly payment plan for all the collectors, interest free.

Three years on and I've been very well behaved in the money stakes. My phone debt is nearly fully paid off and my CC debt is paid off.
When Direct Legal Collections first took on the debt from Virgin I paid a monthly amount via payment book at the post office. After 12 months the book was finished and I requested a new one by phone initially, I never received anything, so I sent a letter. Again nothing.

When I recently checked my credit report (with experian) there are three defaults on there:
HALIFAX Default [8] Satisfied
HALIFAX CARD SERVICES Default [8] Satisfied
ORANGE PCS Default [8] Outstanding Debt

So basically my questions/queries are:
1) Is there any reason the Virgin Media debt being collected by Direct Legal Collections is not on there? What if anything should I do about it?

2) Regarding my defaults.
I know I will have to wait for another three years for my defaults to be removed from my report, but given that they were three years ago and two are satisfied and one is being regularly repaid, will this reduce my credit score so greatly that other companies will not touch me?
a) Everything other than these three defaults is good. I wanted to transfer an existing credit card balance to a free balance transfer card and in doing so could be debt free before the end of the year. Should I wait three years paying interest on my CC balance or is there some chance I may be accepted?
b) Future mortgage applications, best to wait three years? (I haven't had a mortgage and am currently renting)

I know I have been rambling and waffling, but wanted to try and paint as truer picture as possible.

Tixy

Hi and welcome

The virgin/dlc debt may be being reported to equifax only - you could try getting a copy of that report. Or it could be that DLC are in the process of selling your debt to another DCA - if that happens the debt disappears for a month or so and then reappears with the new DCA name (but the old default date).

Do you pay all your creditors yourself (not you pay to CAB and they pay creditors) - well apart from virgin of course, how long since you paid DLC anything?

Regarding the defaults, you'll almost certainly only be able to get sub-prime credit, no real chance of getting a 0% card I'm afraid.

Was your credit card not included in the repayment plan? has the debt been run up since? does the cc appear on your credit report? The creditors that have frozen interest might not be very happy if they were to realise you had another creditor that you were not treating the same (ie paying less to all unsecured creditors).

Mortgage - yes, for a decent rate then you'll need a clear credit report.

JBBoldman

Thanks Tixy,

I tried getting a free trial with Equifax this morning after seeing the link on this site but it wasn't working and to try again later, thats why I only viewed Experian.

I pay all my creditors myself, CAB only provided me with guidelines of letters to send.

I last paid DLC on the 8th May 2008. I rang up the month prior and requested a new book, when it wasnt delivered I wrote to them (and kept a copy) asking for a new book or details to set up a direct debit. Again nothing.
They have never sent me anything since then, not called written or e-mailed. They have all my contact details and the address on the front of the payment book is my current address.

The other credit card I'd had for years and was never used until I had to pay for essential vehicle repairs.
Before I'd heard of this site, I was under the illusion that if you paid your creditors off in full then everything would be hunky dory.
I didn't realise about defaults on credit statements affecting credit for 6 years.
So saving was foolishly never on my agenda.

With regards to the 0% card and the mortgage, thank you and it is understandable. I'll just wait for the remaining three years and keep my nose clean.

JBBoldman

Furthermore, I have just managed to register on Equifax and the Virgin Media debt is listed on there.
It was defaulted in Feb 2007. They are the only details it gives.