Paying Defaults & CCJs

brundi

Hi all,

I'm looking for some advice on whether or not to pay 3 defaults and 1 CCJ on my credit report.

I recently signed up to Credit Expert to see why I couldn't get credit despite paying all of my 'current' debt and found that I had 3 defaults and a CCJ from 5 years ago. One of the defaults is satisfied - the other two have £269 and £456 outstanding and they defaulted on April 2005. Should I pay these or just wait for another year for the to be removed from my credit report?

The CCJ is for £247 and is dated December 2004. Again should I wait for this to be removed or pay it?

Any advice would be much appreciated. Thank you in advance.

Tixy

Hi Brundi

How recently have you paid anything towards the defaulted debts?
Whilst they will drop off your credit report after 6years, if you have made payments more recently then you can still be chased for the money for 6years from the last payment or written acknowledgment (and still be taken to court). After 6years they could chase you, but you would need to write to tell them its statute barred and you do not intend to pay.

With regards to the CCJ, it will drop off your credit report after 6years but you will still owe the money. Again they can chase you for 6years from the last payment. The creditor could take the case back to court after 6years to try to obtain permission to continue to chase you for the debt (or enforce the debt by other means), though they would need to show the judge a good reason why they had not enforced it before (by instructing baliffs or whatever).