Increase credit rating and CCJ - Welcome Finance!!

matttye

JustTony wrote: »

So regarding the HSBC account - it was originally only £7 overdrawn the other amounts where charges that added up to the £105 figure which resulted in a default. Is this fair?

Personally I want this sorting ASAP, however I dont want to risk making things worse when the CCJ drops off the file in december. The only thing Im thinking is what stops them from still updating the file indefinitely, putting 6's on every month??

Thanks again

Morally it's not fair but legally they haven't done anything wrong so long as the charges were detailed in the terms and conditions you agreed to. If you're on benefits or suffering financial hardship you **may** be able to get the charges dropped, but very unlikely to get them dropped if you can afford to pay.

The CCJ will drop off the file in December regardless. The only difference is that if you complain now this may kick them into action to enforce the debt. After December they will need to take you back to court to do this.

JustTony

So you reckon keep my head low for the time being?

Another person had suggested I ask for a SAR to welcome and see what they can come up with?

matttye

JustTony wrote: »

So you reckon keep my head low for the time being?

Another person had suggested I ask for a SAR to welcome and see what they can come up with?

It's your call, but if it were me and the debt was this close to the six year period I wouldn't want to draw attention to myself

JustTony

Thanks mate.

Will paying the HSBC debt look better overall? That have passed the debt onto someone I think called arrow global. How would I go about getting this settled with maybe a little discount? Ha ha.

Thanks again.

matttye

JustTony wrote: »

Thanks mate.

Will paying the HSBC debt look better overall? That have passed the debt onto someone I think called arrow global. How would I go about getting this settled with maybe a little discount? Ha ha.

Thanks again.

Have a read of this factsheet on National Debtline's website:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

It has information and template letters about offering full and final settlements to creditors.

The most important thing is to make an offer in writing, send it recorded delivery, and make sure you get confirmation they will not sell the remainder of the debt onto someone else.

JustTony

Thank you very much. What do you reckon would be a suitable amount seeing as the original debt was under £10 and the rest bank charges?
I seem to remember reading somewhere that debt collection agencies buy debts at so many pence per pound, so my debt in actual fact could only owe them say £20 for instance?

matttye

JustTony wrote: »

Thank you very much. What do you reckon would be a suitable amount seeing as the original debt was under £10 and the rest bank charges?
I seem to remember reading somewhere that debt collection agencies buy debts at so many pence per pound, so my debt in actual fact could only owe them say £20 for instance?

I'd start quite low and work your way up.

I don't think they'll argue too much over a £100 debt (just over).

You're right that DCA's buy debts quite cheaply, so even if you only offered them £40 they'd more than likely still turn a profit from it.

JustTony

Ive been thinking about this, and is there no way I can get the default removed as the charges where unlawful and I was in dire straights at the time?
Well worded sob story or some other way?

JustTony

I SAR'd both welcome and HSBC. I really want to sort this ASAP.

Received only an account summary from Welcome, nothing else?

From what I can make out:
Total amount the account closed on was £1550, yet I received a CCJ for the amount of £2860!
Also it looks like I paid back over £2800 for a £1500 loan. They added on over £1400 in charges too!!

Can I upload the account summary (with deleted personal data) to see if someone can make head or tail of it?

Thanks Tony

[Deleted User]

Doesn't matter if you settle them or not; you would have to wait until the ccj's drop off your credit record before you should even think of applying. Bottom line is if you have a ccj on your record, whether it's satisfied or not, you have Buckley's chance of a mortgage.