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Sorting my credit out
stevel1981
Posts: 2 Newbie
Hi
I want to sort my credit out and have just got my credit report. I have had a really bad last 5 years and have fell into default with alot of my accounts, i am currently on esa and in desprate need to sort my life out. What is the best way to deal with these accounts? I have been told to offer them a token payment as these will drop off after 6 years i dont think the ammount £8000 is worth going bankrupt for any help would be grateful.
I want to sort my credit out and have just got my credit report. I have had a really bad last 5 years and have fell into default with alot of my accounts, i am currently on esa and in desprate need to sort my life out. What is the best way to deal with these accounts? I have been told to offer them a token payment as these will drop off after 6 years i dont think the ammount £8000 is worth going bankrupt for any help would be grateful.
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Comments
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The defaults will drop off after 6 years but there's nothing stopping them from taking you to court and obtaining a CCJ, which will remain on your file for 6 years from the date they're issued. If you offer token payments and stress to your creditors it's all you can afford, they might take the view that it's not worth taking you to court with a bit of luck.
Do you have less than £300 in assets? If so, a Debt Relief Order may be an option. This too will stay on your file for 6 years.What will your verse be?
R.I.P Robin Williams.0 -
Is your situation likely to improve any time soon?Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Within 4 months yes0
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Start by posting an SOA.0
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