DEFAULTS - SIX YEARS OLD DEBTS - do i 'let them go'?

carlos10

I have 5 defaults on my experian report, around £10,000 total. They will i believe disapear from my record after 6 years which is only a few months away. My question is, that i am probably going to let these debts 'vanish' from my records. Does this really mean i would be as credit worthy as I would then appear on my report after these defaults are no longer 'visible'? How could this affect my taking out / then having a mortgage?

I have considered trying to start paying the debts also ...but if a debt is sold on to another firm / collector, will the default and the six years start again?... and if anyone makes contact with me from a debt with a default, does the default date start again? What about if I start paying and miss, ..can a new default date be issed then?


Many thanks for any help with my situation

bottleofred

Hi Carlos,

My advice would be to let them fall off your credit file after the 6 year period and then look to get a mortgage or some other kind of credit. If there are any ccjs on your file, this could affect your ability to get credit, but if not, don't worry. If you start paying again within the 6 year period, the debt has no chance of being statute barred and if you then defaulted again by missing payments, more dcas would be pursuing you for the debt. The final decision about whether or not you pay though is up to you.

Good luck