Its time to deal with my debts

doh_erty

anyone?

als is the current balance on my credit file the amount I owe? or is that just the amount at the time of default?

doh_erty

anyone????

Bored

The default remains on your file for 6 years from the date it was issued so getting in touch with your creditors will have no effect on when they 'fall off' your file, so to speak.

Bored

Oh, and with regards to full and final payments, creditors will usually accept a reduced amount on defaulted items because you're offering a lump sum.

If you don't have these lump sums to offer yet then you can offer to pay a set amount to each creditor per month and asking them to freeze the interest (effectively setting up your own debt management plan). The best strategy is then to continue paying these token payments each month whilst saving money on the side so that when the balances are sufficiently reduced, you can begin to offer reduced full and final payments.

doh_erty

thats just the thing it doesn seem like interest is being added.
Its as though the defaulted debt is just a total thats owed and goes up nor down.

doh_erty

I think im going to pay off my Orange phone bill debt first £130.

I don't know if this debt has been sold on, so, do I send a letter to orange directly?

The letter I had in mind was, something to state I wish to settle the account in full and would like confirmation that once full payment has been received, a settled mark be put on my credit file and the balance of the debt be cleared. or something along those lines. If someone has a template I would really appreciate it.