Bad credit help

elvis2003

This is roughly how my credit file from Equifax reads.

Can anyone help me with this and give me advice as my best plan, Bear in mind i have buried my head in the sand for years, i have no chance of getting a house and things like that now.

Loans Outstanding.

welcome Finance - default date May 2009 - Balance £4467 - Current balance now £8181

Caboot - Default date Dec 2007 - Balance 439

Caboot - Default date July 2007 - Balance 393

Apex - Default date Oct 2007 - Balance 2498 - Current balance 2634

County Court Judgments

Registered

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Court

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Amount
Feb 2011

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Northampton

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792
Aug 2010

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Derby

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2875
May 2010

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Cheister

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8684
Nov 2007

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Liverpool

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2848
Sep 2007

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Northampton

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258

I am pretty sure the Derby and Liverpool one was for the same company.

I have heard things will go off my file in 6 years so the ones from 2007 should go off by next year if this is correct- any help or advice from people would be great..
I have also had numerous paydays loans that i have ignored and not paid but they don't seem to be on their..

National_Debtline

Hi elvis

What do you want out of the situation? Is your priority to pay off what is outstanding and thus build your credit file back up, or is it more a case of waiting to see if some of the older debts slide off after 6 years and taking it from there? If it is the former, put a Statement of Affairs up here and forumites can offer some opinions on where you go from here.

It's not necessarily unusual that the payday loans are not on your credit file - they don't often bother credit scoring you; they just confirm your bank details and that you receive a regular salary, and hey presto they lend the money. That is why they are able to pay the loan into your account so quickly, compared with, say, a bank loan.

Good luck

NDL

elvis2003

I guess its both really, will they slide off after 6 years if so roughly 6000 will be off by next November..

I will then still have roughly 20,000 to sort out from that point i guess.

Not sure which way to go at the minute.

poppasmurf_bewdley

elvis2003 wrote: »

I guess its both really, will they slide off after 6 years if so roughly 6000 will be off by next November..

I will then still have roughly 20,000 to sort out from that point i guess.

Not sure which way to go at the minute.

They may slide off your Credit Report, but you will still owe the money and as CCJ's have been issued the debts don''t become statute barred and Bailiffs/Debt Collectors can still come for you at any time.

So you will still be £26k in debt.

bargainbetty

And the PDL companies will default you eventually, which means your credit file will continue to be wrecked for another six years.

If you want to get out of this, perhaps you could speak to CCCS or Payplan about a DMP (debt management plan). You will be able to contact all your creditors, arrange for token payments until you can work out your finances and then start repaying them. Given the age of some of them, you might be better off asking for the debts to be written off entirely, but this is unlikely.

Depending on your salary, you might want to consider bankruptcy. If you are still taking out PDLs, you also need to address your monthly expenditure.

Good luck

National_Debtline

poppasmurf_bewdley wrote: »

They may slide off your Credit Report, but you will still owe the money and as CCJ's have been issued the debts don''t become statute barred and Bailiffs/Debt Collectors can still come for you at any time.

So you will still be £26k in debt.

This is true where the CCJs are concerned. That said, CCJ creditors are expected to seek enforcement within 6 years of getting their judgment - any later than that and the court will usually expect some good reason for taking so long. Just a small aside.

In any case, the options available for dealing with £26K of debt are likely to be very similar to those for £20K. If you are really determined to tackle this head-on now, waiting until next November isn't going to help you much, CCJs or not.

We would suggest you put up your SoA on here so that others can offer some insights on where you go.

NDL

dancingfairy

Have replied on your other thread here: https://forums.moneysavingexpert.com/discussion/4068043
Summary:

Stop gambling / keep stopped.
Draw up a realistic budget.
Get new bank account.
Sort out a repayment plan or bankruptcy etc with one of the debt charities.
Best of Luck
df

poppasmurf_bewdley

National_Debtline_representative wrote: »

This is true where the CCJs are concerned. That said, CCJ creditors are expected to seek enforcement within 6 years of getting their judgment - any later than that and the court will usually expect some good reason for taking so long. Just a small aside.

I understand what you say, but the OP has not stated that none of the CCJ's has been followed up. The OP may have been fighting bailiffs/debt collectors off since the CCJ's were issued.

I cannot believe that none of those CCJ's will have been followed up.

elvis2003

I had a few letters after the CCJ's were issued asking me for payments but not heard off them for a long time now..
Apart from the one for over 8k they send me letters now and then.

Also someone mentioned about my payday loans showing as defaults, but they don't show on my credit file at all.

Not to sound like i dont want to pay this back but even if i paid these companies £200 a month back between them all over 6 six years that is only 14,400. Were as in the six years providing they don't chase me they will be wiped off my file...
I have also been thinking about bankruptcy