Defaulted Accounts - Question....

pmf63

thanks for that fermi. I used to get that from Wescot a lot. They don't bother any. Maybe because I just laugh at them when they ask for silly amounts. They use the crap that 'at your current rate of repayment you will have a bad credit rating for the next 15 years!'

They are obviously not very good at maths because actually it will 41 years

As long as I dont default on repayments again my credit file will be clear this time next year but it would be nice to be debt clear before I die ... not looking likely though

fermi

As said in previous posts, if you've been defaulted on your credit file for the account already, they can't do it again. No matter what your subsequent payment history is like.

If they do, then it can be challenged and taken off.

pmf63

I hear that fermi ... but if I stop paying or reduce to £silly then they could petition for a ccj. and it would start all over again.

What would be nice is for them to say ... you've been a really good boy and paid on time all these years ... I am going to write the remainder of your debt off .... yeah, when they do I'll book that two weeks holiday on Mars that i keep thinking about. LOL

crapwithcash82

pmf63 wrote: »

Is there any truth in what I have been told that as long as you are paying something and as long as it reflects your income there is little, if anything, a DCA can do to make you increase payments?

If this is the case I think I would carry on paying the agreed amount and then save the extra until I have enough to pay it off completely in one payment

Hi pmf63, I don't have the self discipline to save up the total amount and then pay it off, for me I think I'm best to pay an extra I have straight to the creditors. Otherwise it will be dipped into and frittered away, and I really have had enough of being in debt. I just really want my wages to be mine - after mortgage and living bills obviously!

If I need money for something in between paydays then I will just have to come up with it some other way - and I usually manage to scrape by! Hopefully if I can blitz these 2 debts by the summer I will be a little less stressed about it.