advice on a default?

confused99_2

A few years ago i had a bit of depression and a few other issues and bills were the last thing on my mind,i owed a few thousand to friends,family loan sharks etc,i now have it all payed back:o i have one final hurdle to complete and that is i have a default as i owe the carphone warehouse £713,it was defaulted on 16/11/07 and on my experian report it shows a big red 8

i was was wondering whats the best way to try and resolve the matter,say if they'd drop the amount abit i'd pay it,i dunno how the bill became that big,maybe interest and stuff,who do i contact about it?,i'd really like it off my credit history,for peace of mind more than acceptance of credit imao.I'm currently out of work due to my health but i would pay back the money!

many thanks for your time,any ideas would be great

kewns

Hello and well done for gettin this far :j:j:j

well i would advise you too look at your credit file and find the contact details for this particular debt and

contact them in wrrting asking them to explain the debt and to send you a copy of signed credit agreement to prove the debt is yours and a break down of all charges on the debt. (they can charge a fee for this service)

once you have this confirm and the debt is yours you can they start to haggle i say offer them 10% of the debt and wait for a reply and just keep going up all to you reach agreement

but make sure you do it in wrritng and get signed deivery that way you have prove if ever needed


and am sure the will be other people on here who will know more than me so keep the chin and onwards and upwards lol

Regards,

ste

Tixy

Hi confused

Has anyone chased you for this debt recently? Have you only recently requested a copy of your credit file? sometimes even if you have not been chased for ages requesting your credit file can trigger your creditors/or debt collection agencies to contact you again chasing for payment.

As this is for carphone warehouse its likely to be a service agreement rather than a credit agreement. If they or anyone write to you then write back asking them to prove the debt is yours and if they can produce that proof I would then ask for a breakdown of the debt. Its likely that when you defaulted you were charged for the remainder of your contract, plus as you say there will be interest and charges added on.

Then you could consider offering a reduced full & final settlement. If the debt is with a debt collector and there is no CCJ then typically a starting offer might be around 20% of the balance, possibly agreeing at around 30% if needs be. Here is a factsheet about settlement offers - http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

If you cannot reach an agreement that you can afford then you may need to negotiate to repay on a monthly repayment plan. If at any point you receive court papers in relation to this debt then come back for more advice on completing these.

confused99_2

hiya tyvm for the replies,i havent had any contact with the carphone warehouse or any agency of the debt kind as i have moved house since this default started.
I just wanted to get my credit rating in the best shape i can for the future,its in default from the 16-11-07 and was updated on 28-03-10,i've read it will take 6 years to be removed,but this will effect my credit,i'd just like to get it sorted asap,but i am worried about ringing them as it could trigger of a man hunt ,i dunno what would be the best action to take i could pay them monthly but i find the £713 abit steep but if it helped me sleep better at night and improved my credit rating im up for it

McKneff

Whether you pay it or you dont pay it, it will still stay on your credit report for 6 years.

As for improving it, I dont know. My DD moved house without realising she had a default, paid it straight away, as soon as she knew about it, 3 years down the line she still couldnt get a mortgage for even the smallest amount and no credit cards either.