Increase credit rating and CCJ - Welcome Finance!!

JustTony

Hi

Mods - please move if in wrong section or forum.

Im 26 years old now and looking to get a mortgage in the next couple of years and currently saving hard for a deposit.

I have what I thought where two CCJ's against my name and a number of defaults leaving my credit score absolutely terrible. After rechecking my credit score I in fact only have one CCJ.

First off HSBC bank for about £105 - I somehow went £7 overdrawn when I had no agreed overdraft and they put 3 £30 charges on. Being a young and naive 20 year old that was then being paid cash in hand and financially unstable I ignored it until the account remained defaulted. I can settle this - thats no problem.

Secondly WELCOME FINANCE!
I took out a loan of £1500 with them when I was 18 (credit available - young free man no kids - very silly mistake!) Anyway long story short was that I paid back £2300 before being made redundant. I asked them for a the remaining balance and they told me I still owed them £2800!!! I told them where to go and didnt pay them a penny ever again. This also resulted as far as I can see in a CCJ too.

However I have since heard that Welcome have faced hard times (tough luck!) What is the best way to go about settling this debt and getting my credit score back on the mend?

I currently have another bank account with Santander and have been working in another trade with money paid directly into account with no adverse credit for over 5 years.

Any ideas on where I go from here? Shall i post in some parts of my credit file for advice?

Thanks in advance.

Tony.

JustTony

Credit History Summary
Number of credit accounts (including those settled)3
Amount of available credit (excluding mortgages) £0
% of your total credit being used (excluding mortgages) 0%
Amount of outstanding debt (excluding mortgages) £2,058
Number of accounts overdue 1
Number of missed or late repayments in the last year 12

And this I assume is the entry for the CCJ -

Entry Number: J1
Name: MR ANTHONY MICHAEL **********
Address: 30, ********, NORTHAMPTON, ****
Information type: Judgment
Date: 12/12/2007
Court: NORTHAMPTON COUNTY COURT
Case number: 7QR51112
Amount: £2,832
Information Source: Registry Trust Ltd
Note:
If you have paid a judgment you should contact the court and make sure they are informed. You may wish to request a Certificate of Satisfaction as proof of the change. We will be told that the judgment is satisfied and we will update our records. For further information please see the Report Guide.

JustTony

It wont let me post a link to Images for you to see the cut down of the HSBC and WELCOME accounts.

Ill try and copy in the info here -

HSBC -

Current Account Default £105 07/04/2013

HSBC BRANCH BANKING
Entry Number: C1 | Account Updated to: 07/04/2013
Name: MR ANTHONY M ************
Address: 30, *********, WESTON FAVELL, NORTHAMPTON, ***

Date of Birth: 28/02/1987
Account Type: Current Account
Started: 13/08/2002
Current Balance: £105
Default Date: 16/11/2009
Default Balance: £105

WELCOME -

WELCOME FINANCIAL SERVICES LTD
Entry Number: C3 | Account Updated to: 05/05/2013
Name: MR ANTHONY MICHAEL ************
Address: 30, *******, NORTHAMPTON, *****

Date of Birth: 28/02/1987
Account Type: Loan
Started: 29/07/2005
Current Balance: £2,058
Payment Terms: £103 x 37 months

View Account Status Details:
Account Status Details
(1-12 months)
Account Status Details
(13-24 months)
Account Status Codes
(25+ months)
Last updated: 05/05/2013
Status Code:

Balance:
£2,058 £2,058 £2,058 £2,058 £2,058 £2,058 £2,058 £2,058 £2,058 £2,058 £2,058 £2,058

JustTony

I hope the info I have posted above will provide enough information for you.

I'd just like to know how comes Welcome haven't defaulted the account after no payment for probably around 7 years or so.

HSBC I know have sold the debt to someone I think called Arrow global - How can I settle this so that it doesn't show any more?

Thanks in advance for any help - and any more info you need just ask.

Tony

kittiej

Did you have PPI with the loan? I bet you did as that was a WF requirement.

This might pay half of the outstanding amount off depending on what it's worth.

JustTony

Hi,

Yes I did originally, but I contacted welcome a while back to get the PPI paid back to me in hope of cutting the debt down to an amount I could settle on but I was informed by them that I cancelled it sometime after I took out the loan.

I do remember cancelling it, but dont remember when exactly. Im pretty sure it was quite a while into it, I'd say well over a year after making continuous payments.

The problem is I dont have any paperwork for anything - I have moved house a couple of times since the loan date, and it was the above HSBC account that is now closed that the payments where coming out of so have no record of payments made either if that makes sense?

Any idea where I go from here? Do I ask Welcome for a breakdown of payments received and charges etc? What is their current standing anyway - are they still trading?

matttye

The CCJ will drop off in December 2013 and the default in November 2015.

Even if you pay them, the info won't drop off until six years has elapsed since the CCJ/default date.

JustTony

Will my credit score not be better if they have been settled though?

And what about the welcome account - why is that still being updated?

Also - how do I upload a copy of my credit record as a pdf. I have blanked out personal data etc.

matttye

JustTony wrote: »

Will my credit score not be better if they have been settled though?

And what about the welcome account - why is that still being updated?

Also - how do I upload a copy of my credit record as a pdf. I have blanked out personal data etc.

It will but the presence of a default or CCJ at all is going to mean you'll only be able to get sub-prime credit, if any at all.

They'll keep updating the status of the CCJ but it will drop off six years after it was made:

"Date: 12/12/2007"

I don't think you can load a PDF here but you could take a screenshot and upload it to a site like photobucket or imageshack then post a pic.

JustTony

Although the ammounts from welcome and the CCJ differ?

matttye

JustTony wrote: »

Although the ammounts from welcome and the CCJ differ?

It looks like they're saying the balance is lower than the amount the CCJ was granted for. I have to admit I'm no expert on the subject, but I would think that you could get the CCJ amount lowered if you have evidence from WF itself saying that you owe less.

That said, if you've never made a payment to the CCJ, in December of this year Welcome would need to take you back to court for the judgment to be enforceable anyway, and it's highly unlikely that they would succeed. The court would want a very good reason why they've left it so long.