A few questions after obtaining my credit report

mariner23

I want to apply for a mortgage so I have obtained my credit report and have a few questions that I hope people might be able to help me with.

I got into financial difficulty back in 2005/06 with a loan and several credit cards. After much to-ing and fro-ing, I managed to restructure the payments on these accounts, although defaults had been put against my name in the process.

I have accessed my report and only two of those credit cards appears on there. Am I to assume that the others are over six years old and thus will not appear?

There are two CCJs on there, which I am aware of. How would I go about settling the balance on these and will it have any affect on any other creditors?

If I settle the balance on the two credit cards that appear on the report, what affect will that have on the creditors I still have outstanding balances with that do not appear on the report? Would I still be OK paying them at a reduced rate? None of them have made any contact with me in months.

I'm worried about paying off the debts that appear to try and improve my credit score and then my other debts that do not appear also looking for payment and/or opening a judgement against me.

Any help or advice that can be given will be much appreciated. In an ideal world I would like to pay off the debts that still appear and then carry on paying off my debts that do not appear at a reduced rate until I am in a position to do something different.

camuk81

It may not appear on the report. Please remember there are 3 credit agencies and you will need to check with all 3, but if it is over 6 years old it may well of dropped of the system/

Because you applied for your credit report they may start to contact you.

There several lines open but if you choose to pay them off then they may accept a reduced payment. However not pointing out the obvious but when where the CCJ placed on your file. If it was 2006 they will be due to end this year

Tixy

It sounds likely that the other defaults are over 6years old, but you might want to check your report at the other agencies just to be sure (a default could appear on 1 agency but not the others), mortgage lenders often check more than 1 report.

Do you have copies of the judgements for the CCJs? that should tell you how to pay, if not contact the court that issued the judgement.

Settling the CCJs should affect any other creditors.

By requesting your report you will have effectively have confirmed your current address, and this can sometimes trigger creditors to start chasing again (or debt collectors), you could be chased by creditors who have dropped off your report if you still owe them money. If any creditor who is not on your report starts chasing before you pay consider if the debt could be statute barred (which would mean you were not obliged/required to repay).

mariner23

Hi, thanks for the reply.

CCJs were 2009 but I have enough to pay them off and they are not for a major sum, so I would prefer to get them out of the way.

I have tried checking my report through Equifax but never have any joy in signing up.

Who else should I try for a credit report?

My score with Experian is 814 - is it likely to be much different with anyone else?

mariner23

If these creditors who are not on my report start chasing me, is it worthwhile reopening negotiations with them in terms of repayment (presuming they are not statute barred) as I am in a much better position than even 3 years ago?

rising_from_the_ashes

mariner23 wrote: »

Hi, thanks for the reply.

CCJs were 2009 but I have enough to pay them off and they are not for a major sum, so I would prefer to get them out of the way.

I have tried checking my report through Equifax but never have any joy in signing up.

Who else should I try for a credit report?

My score with Experian is 814 - is it likely to be much different with anyone else?

If you can clear the CCJs then that will be much better - but they will still show on your file for 6 years (but much better as cleared rather than outstanding)

You do really need to check the Equifax one, as well as Call Credit.

You can obtain a statutory report from both through their website for a £2 fee - don't pay extra to get a score as it's only the credit agency's view & not seen/relevant to other lenders.

Tixy

If they are not SB then you could either ignore (or ignore unless they actually take court action - not just threaten to) and hope they become SB without them taking action, or you could offer a reduced full & final settlement (if you can afford to), or you could arrange to start repaying.

I'd rank them lower priority than anything with a CCJ and anything that is still visible on file.

How likely they are to try to take court action will depend on the amount owed, the creditor, how likely they think it is they'll get the money back, how good a papertrail they have (do the debt collectors have all the paperwork etc).

mariner23

They won't be SB as I make a small payment every month. They have not contacted me since before Xmas on any of these accounts and currently seem happy to accept the small payments, although I am in a position to raise these payments, although not in a position where I can offer everyone I owe a reduced full and final settlement.

I cannot access Equifax for some reason. It keeps saying my card details do not match my address, even though I have no other problems with my card.

I'm not really sure on a paper trail. I just send a note each month with my payment and that has my reference number the amount I am paying and a printed name on it. The offer of payment has stayed the same since I first defaulted, otherwise the only times I have raised the payment is when the DCA has asked me to.

camuk81

the score can vary as is not indication of credit as companies score you on 3 main factors:

1. Credit score
2. History with them (do you own any accounts elsewhere)
3. Relationship with them

Your credit score shows them a relationship with every man and his dog. But its not the only deciding factor