Want mortgage but bad credit....but not on report?

jennlx

My husband and myself are looking to buy a house, but are concerned with his past history:

1. 2005, Default of £6k, reduced to £3,700 but not paid off (stupidly following advice of debt advice charity in about 2009 after they failed to be able to provide statements/copy of agreement)
2. 2009, Default of £380, settled 2010
3. 2009, 1 Late credit card payment

The thing is, we have checked Call Credit (Noddle), Experian and Equifax reports. Experian/Equifax show 3., Noddle ONLY shows 2. and none of them show 1.

For the record, we intend to pay off 1.

Is it true that banks only use specific reports so should a bank only use Experian, his record would show a late payment only? Could debt 1. raise its ugly head and reappear on any records?

Thrugelmir

Data is shared between companies. So when a search is requested. The data held is updated from other sources as well.

If this wasn't done then would make the whole process meaningless.

droiderm

1 might have dropped off by now if it was registered before 2007 .

Thrugelmir

droiderm wrote: »

1 might have dropped off by now if it was registered before 2007 .

The debt is still unpaid. So will be registered as being in default.

jennlx

This is what I could never understand - the money is still owed, so how can it drop off a credit report after 6 years, never to be seen again. So it does/has dropped off but it would be probably picked up via other sources?

Thrugelmir

jennlx wrote: »

This is what I could never understand - the money is still owed, so how can it drop off a credit report after 6 years, never to be seen again. So it does/has dropped off but it would be probably picked up via other sources?

What happened once the debt was reduced? Did you make any repayments? When was the settlement reached?

droiderm

Thrugelmir wrote: »

The debt is still unpaid. So will be registered as being in default.

I thought it dropped off 6 years after the default date regardless ?

jennlx

Debt was for £8k with Abbey National. Think it defaulted around £6k when he was out of work. Bought by debt agency, and repayments got it down to £3,770. At this point was made redundant and sought advice from debt advice charity (in 2009). They advised him to ask for copy of agreement and statement, which they could not provide so were told could not be enforced and to stop payments. Debt agency closed their files. There was a recent case which means banks no longer need to provide docs to chase debts. Haven't heard since.

jennlx

Ps. No settlement to date.

Jimby509

I thought it dropped off 6 years after the default date regardless ?

A default will drop off CR 6 years from when it was registered. This is regardless of wether it is settled or not. The can not add any further entry on your CR regarding the debt.

This does not meen you are not liable to pay the debt.

Thrugelmir

jennlx wrote: »

Debt agency closed their files.

Then would appear that this debt is no longer an issue.