Credit Repair Help

Roo79

Hi, hopefully this posting is in the correct forum, apologies if not.

I'm after a bit of credit repair and general moving forward advice if possible.

I have three defaulted credit reports on my file. Nothing huge, one is £474 another £624 and finally £842. The default balances were obviously less than these figures but additional charges have since been added.

I am now looking at the option of paying a percentage balance as full settlement and have just written 3 letters to the creditors (not sent yet) with an offer of payment in exchange for the removal of the accounts altogether from my file. I have requested a signed letter if my offers are accepted agree to completely remove the default from my file and also agree to not sell on the remaining debt to other 3rd parties.

These defaults took place around early 2009 and to be honest I've 'buried my head in the sand' since then, however I'm now hoping to get a mortgage offer and obviously as good a credit score as possible is vital.

Does any know if these offers are accepted and I make the payments in exchange for removal how this will affect my credit score? Positvely, negatively or neither? After reading up about this method I'm finding conflicting advice and am now unsure whether to send the letters incase this method worsens my score?

Any help much appreciated. Thanks. :beer:

chanz4

Im not going to give you false hope, if they are correctly applied they wont be removed just because your paying them. They do however look better settled, what you also have to remember is once a default is removed (if), it goes back to its last status eg 3

fermi

Roo79 wrote: »

I have requested a signed letter if my offers are accepted agree to completely remove the default from my file and also agree to not sell on the remaining debt to other 3rd parties.

Very occasionally a debt collector will agree to that, but in most cases they won't.

Worth a try, but having it marked as defaulted but settled is normally the best outcome that you can expect.

tinkandspud

I have 4 defaulted accounts on my file that all show as settled however I have been told that these will remain on my file for 6 years from the date of default .....