Missed Payments - Need some desperate help

dd501

Hi, I've been struggling to pay off a credit card and have a number of missed payments on it



How long will these missed payments effect me? When would i be able to apply for a mortgage?



I've also defaulted on a credit card in 2008, which I settled in 2010.



When will this dissapear from my file, is it 2014 or 2016?


Thanks very much for any advice

Tixy

Hi, I've been struggling to pay off a credit card and have a number of missed payments on it

How long will these missed payments effect me? When would i be able to apply for a mortgage?

Make sure you make all payments on time from now on. The older they are the less impact they will have, but with this not just being an occasional 1 but getting up to 4s in the last year it is going to impact for quite some time yet.


I've also defaulted on a credit card in 2008, which I settled in 2010.
When will this dissapear from my file, is it 2014 or 2016?

This will go from your file in 2014, 6years after the original default date.

It is possible to get a mortgage with a default on file and some missed payments, but it would only be subprime lenders who require a larger deposit and the rates are higher than a mainstream mortgage would be.

dd501

Thank you for your reply.

I'm starting to get back on track, I've been trying really hard.

Will the missed payments dissapear after 6 years also.

Do I need to close the account, or if I dont miss a payment in the next 6 years will those missed payments dissapear?

I want to try use that credit card, by borrowing it a small amount, and paying it off to try build my credit score back up.

Many thanks