my story... help

vars

Hi All

Decided to take the plunge and register after months/years ofdeliberation.

Brief breakdown of me - Lost both parents whilst being a student and didn’ttake responsibility of my debts and just ignored them all. Now here i am tryingto make amends and get myself straight before its too late (27 now).

Debts taken from Experian this morning where my credit score reads fair809:

• Halifax Loan £8786 default date 28/01/2008
• Lowell Port. £1104 Default date 19/04/2008 (relates to 02 mobile)
• Lowell Port. £451 Default date 19/04/2008 (again relates to 02 mobile)
• Capquest (capital one CC) £389 Default date 07/04/2008
• Halifax CC £1629 default date 15/04/2008
• Littlewoods Catalogue £274 Default date 31/12/2007

Other information found:

• Santander current account, currently not in use. I bank with HSBC. Should i close this?
• Halifax Current Account Satisfactory settled 02/04/2008

I moved into shared accommodation this April and haven’t been on the electoralrole for a very long time. Credit Experian shows me as living at the sameaddress for 13 years and 6 months. I haven’t lived there in 5 years!

My worry is if i register to the electoral role will these debtors comeback to find me? I haven’t received a letter in years and don’t really want tooknow im so close to the 6 year period of them falling from my account?

I have just signed up for a cash plus pre-paid gold master card and willsign up for the credit builder function once the card arrives.

Anybody got any thoughts or suggestions of what my next move should be?

Thanks

Vars

sourcrates

Yes I have, wait a few months and all the debts you have listed above will become statute barred, or you could choose to pay up, if it was me, and they haven't bothered chasing any of these debts up, then id wait it out, to my mind if they cant be bothered to chase them up, don't do there job for them.

vars

Thats what i was thinking, so wait until the last ones cleared off my file and put myself on the electoral role afterwards?

worried48

Definitely!

Trajal

Don't sign up for credit builder as they will report your current address to the CRA which will then give all of your current debts the chance to register CCJs against you *just* before they become statute barred.

Halifax loan and CC will undoubtedly look to achieve that as they are not insignificant amounts.

Wait for them to become statute barred and then go for your credit builder. And a final hint on credit builder - remember to make payments every month or you can very easily accidently default.

vars

Thanks for the response Trajal

With that in mind shall i cancel the cash plus card or just not set up the credit builder until the last file has dropped off?

ErikWillems

Sounds like a pickle, have you tried speaking with the Citizens Advice Bureau they can be a great help in such situations?

Trajal

Personally I wouldn't give any excuse for someone to report or make a search of any kind against your credit file until such time as the last of these old debts has dropped off.

You've had a tricky time at a young age and whilst I am not normally an advocate of abandoning one's responsibilities, I think this case is exceptional because they haven't yet chased them.

Lie low for a few months until 30 days after the final default drops off your file then count your lucky stars and start afresh. Get some credit as you do need to rebuild but don't let it get out of hand.

vars

Thanks Trajal

I appreciate the response. I agree I’m not exactly pleased with the way ihandled my finances in the past but a lesson has been learnt. I’m guessing i haven’tbeen chased because they are unaware where I am. I’ve stayed low for 5 years I’msure i could manage another few months. I'll just be relieved when it’s allover and i can start building a future.

Cycrow

just to confirm, have you not payed anything or acknowledge the debts since the defaults were added ?

as the date they become statue barred could be different from the date of the defaults

vars

Cycrow wrote: »

just to confirm, have you not payed anything or acknowledge the debts since the defaults were added ?

as the date they become statue barred could be different from the date of the defaults

Yes this is correct from February 2008 ive ignored everything and everyone