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bottleofred
Posts: 2,902 Forumite
Hi Folks,
My OH got into a bit of trouble with her credit card last year and contacted them about reducing the payments and obviously not using the card. They agreed to this, but made her wait 3 months before allowing her to pay reduced payments with the interest frozen. The downside of this is that they have a default on her credit file and as we were hoping to move house with a new mortgage etc. this would now seem improbable. Has anyone any idea if we settle the balance in full, the chances of them removing the default? I think they probably sent all the paperwork through correctly, but it's not available. I realise the chances are limited, but any advice is appreciated.:mad:
My OH got into a bit of trouble with her credit card last year and contacted them about reducing the payments and obviously not using the card. They agreed to this, but made her wait 3 months before allowing her to pay reduced payments with the interest frozen. The downside of this is that they have a default on her credit file and as we were hoping to move house with a new mortgage etc. this would now seem improbable. Has anyone any idea if we settle the balance in full, the chances of them removing the default? I think they probably sent all the paperwork through correctly, but it's not available. I realise the chances are limited, but any advice is appreciated.:mad:
If you've nothing decent to say, perhaps you shouldn't say anything.
£2 savings jar £300:D
Total credit card debts £1250:mad::mad::mad::mad::mad: - Will I ever learn!!
£2 savings jar £300:D
Total credit card debts £1250:mad::mad::mad::mad::mad: - Will I ever learn!!
0
Comments
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Defaults last for 6 years from the date they were placed.
It shows that you have defaulted and broke the original terms of the contract. If a default was lawfully applied, a default notice sent and actioned due to breach of contract (below min payment) then you cannot force its removal. If no default notice was sent you could try and play on that as to apply a default they must send out a default notice to allow you correct the account, before applying the default.
You can indeed try a full and final settlement on the condition the default is removed, but this is rarely accepted with a debt collector, so if with the original lender you will have very little chance of seeing it been removed.
A default will have an impact on a mortgage, it won;t make you unlendable however it may increase the interest rate hence costing you £100's in the long runAlthough no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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