Time to admit my problems.....

wakojako1985

Well here i go, im a 25 year old male that abused how easy it was to get credit at the age of 18 and since then have failed to make payments after about 6-10 months when i took the debt on.

My problem now is that i have been in a relationship with my girlfriend for over 3 years and we have been talking about buying a house, she knows about my previous debts and how i have not paid back very much....

Im not too sure how much debt i truly have, The main loan was 7k from Egg then a credit card and loan from my bank.

The bank has passed on the debt now and i get letters to my mothers address every now and then but i have not heard off Egg for about 5 years so i dont know where i stand with this as it was over 7 years ago that i took the loan out with them. I have a work collegue that said the egg loan might have been wrote off now by them, im not too sure of this??

I would like to sort out my debts and face the facts now after all these years, i have not posted on here for people to judge me i would just like some honest help in how to get myself in a position where i can make my credit score more desireable.

Many thanks for your help.

clang_uk

Well done for posting, it's the first step! You will find people here to be very helpful and friendly. The first thing you need to do is to sort out how much debt you really are in, ignoring the egg loan for a moment, you probably have credit cards/store cards, you should request statements and get an idea of your total debt problem.

You will need to then post an SOA at make sense of cards . com We will then be able to help you address these.

Some one else will be along shortly to advise about the egg loan, but your colleague may be right, and they may well have written it off, although if your mum is still getting letters, I guess they are still looking for you.

If you are paying your debts (again ignoring egg) and are on the electoral role then you are half way there to getting a mortgage, credit scoring is not an exact science, but does record the various bills and payments you've missed which lowers your score. After 6 years things are removed, so this may give you an even footing if you are looking at buying in another year or so.

wakojako1985

hi clang_uk,

Egg have not sent a letter for over 5 years to my mothers address, all my bills ie, mobile phone, gas, electric have meen in my partners name so i suppose im off the radar so to speak apart from me working.

The only letters my mom still gets in my name are ones off hsbc bank, im just scared that as soon as i start asking questions these agencys are going to start hounding me. To top it all off there is a few other "small" debts that i dont even know who i owe!!

many thanks for your reply....

verystupidwithmoney

Well done on admitting the problem!

When was the last time you paid anything to Egg?

wakojako1985

if im right i only paid 2 or maybe 3 payments to them!!

System

A way to get an up-to-date list of all your debts (big and small) would be to get a credti report from Experian or Equifax (or both). Between the two you should be able to get a good idea of how much you owe, and to whom. You can get free 30-day trials with both of these companies so you don't need to pay to get the info.

Sometimes if you go through a cashback website as well you can get paid for getting a free credit report.

Good luck!