Mortgage advise re possible adverse credit

Wallpaper

Hi
I hope someone can send me some advice, recently applied for a mortgage but was refused due to "adverse credit". Got a credit report and a loan and credit card I took out in 2006/7 are showing as in default in 2008 when I switched banks. I never check my statements so if there was a problem with the transfer of the direct debits I didn;t know about it, and the bank in question never contacted me about non payment. What is the best and quickest way to sort this out to restore my credit and get a mortgage? Thanks

GMS

You should speak to a broker to see what options you have for a mortgage.

In terms of correcting the adverse you may struggle. Surely you would have noticed the loan and credit card payments not leaving your account? You should have received mail from the lenders stating payments missed.

Wallpaper

its not until recently that I actually started taking a proper interest in my finances, so was not checking statements or bank accounts at that time. If I do still owe this money is it best to pay if all off in one go or make arrangements to pay it off over a number of months? I really need it sorted so I can get a mortgage.

Thrugelmir

An arrangement to pay will show you as being in default. So any debts are best settled as promptly as possible.

If its more question that you paid late. Then only time will age the default and eventually erase this from your credit record.