Best thing to do?!?

B2B2012

Hi All... after some advice after lerking for many many months! For the past year I have been facing my debts from the past 10 years and have finally got down to the last few. Unfortunately the last few are the pesky one's and I need some advice.

Have an old Natwest Loan taken out in 2002, defaulted in 2007 and now with a DCA where i have a PP in place paying £30 a week. Balance o/s £8000

Also have a Littlewoods account started in 2006, defaulted in 2010 and have an arrangement to pay with Lowell DCA for £30 a week also. Balance o/s £3000

These are my only defaulted accounts which have caused me to have a really bad credit score which I am attempting to improve before my wedding next year. I want to be a debt free bride :j

So my question is would it be better to continue to pay the arrangements above which are just about manageble for me, but take me years to pay or attempt to settle with a F&F towards the end of this year when I could loan the money from a credit union and clear both balances if F&F we accepted? Will the Natwest loan drop off my creditfile 6 years after the date of default whether settled, part settled or still owing?

Hope this makes sense, any coments appreciated

bottleofred

The details of the debt drop off your credit file 6 years after the default date whether settled or not. I wouldn't recommend getting a loan to settle debts, but it's up to you what you decide.

Good luck

Red

B2B2012

Thanks bottleofred. The loan is from a local credit union so doesnt affect credit file etc.. I just dont know which option would be more beneficial in the long run as I'm hoping to get a mortgage the year after next.