Clearing some debts in full which ones and how?

going.straight

Morning all,

I have been lucky enough to recieve a sum of money which will pay off most of my debts.. I want to use the money wisely and to the best of my advantage so was hoping for some guidance please

Firstly my main priority is to clear up my credit file as much as possible we would like to get a joint mortgage soon (we have avoided due to my bad credit)

I have paid some of my debts straight away including
Council tax arrears
Mortgage payment arrears (which were on an arrangement)
Utility bills that were behind
All current credit cards and loans cleared including the dreaded Wonga!!
Current car finance cleared
Family debts cleared

Now i need to focus on my old debts which are
(taken from equifax)

Halifax current account defaulted 3 months ago at £582 but was only put on my file 2 weeks ago.. is it too late to clear this and get it removed? All the paperwork went to my old address so I didnt realise it was defaulted till i got equifax notification.

Loan from HSBC £3095 Default balance. Defaulted on 20/07/2007
I haven't heard from this one in a long time, I thought i was paying towards it at one point but turns out that was the debt listed below (HSBC Current account) In December 2013 this default will be 6 years old what happens to it then? Should I contact HSBC about paying it?

HSBC Current account £3998 Default balance defaulted on 20/07/2007
This was an overdraft of £3k with charges. This was taken to court and I recieved a CCJ for £4210 on 5/3/2008 it is also secured to my property. I have on/off communications with this debt since last payment was well over a year ago and no communication.
I called them last month asking for settlement and was told I would need to pay the full amount to have the security removed from my property.
I asked for this in writing and the letter was a mess.. listing my current address (a rental) as the address that is secured. this was then followed up with a letter saying i needed to pay in 7 days.
Is the paying in full thing true?
If I pay it in full now will the CCJ be marked paid and will this help my credit file slightly till removed?

Welcome Finance HP £1375 Defaulted on 23/05/2008
This debt was a nightmare from the start, they spelt my name wrong, i had to resign they incorrectly added PPI of which £5k of the above balance consists of! They have never chased me since the early days aside from to send me the standard still in arrears statement. They have however secured the debt against my flat.

The only other two things on my file are my 2 Barclays cash card accounts both showing green green green for 3 plus years,

my vanquis credit card £500 limit which i paid in full this week and my capital one credit card credit limit £100 green green green for past 4 years.

My husband said to cancel the vanquis as it prob makes my file look bad? I thought if i used and paid it off each month that would be good for my file?


Thank you if you got this far, appreciate any advice on any of the points

Tixy

Hi

I would think the vanquis card (if not defaulted) is the least of your problems and not where to focus your funds.

Halifax current account defaulted 3 months ago at £582 but was only put on my file 2 weeks ago.. is it too late to clear this and get it removed? All the paperwork went to my old address so I didnt realise it was defaulted till i got equifax notification.

Had you not updated your address with them? It might be worth contacting them and explaining that you didn't receive the correspondance and asking if you can pay in full and if they will remove the default notice.

If you could get that removed that would be good in the long term, as its much later than the other major issues on your file.

Loan from HSBC £3095 Default balance. Defaulted on 20/07/2007

I haven't heard from this one in a long time, I thought i was paying towards it at one point but turns out that was the debt listed below (HSBC Current account) In December 2013 this default will be 6 years old what happens to it then? Should I contact HSBC about paying it?

6 years after the default it will no longer appear on your credit file, whether paid or not at that time (though the money is still owed of course). It may become statute barred at some point (not linked to the default date) - are you aware of the limitation act and statute barred debts?

HSBC Current account £3998 Default balance defaulted on 20/07/2007
This was an overdraft of £3k with charges. This was taken to court and I recieved a CCJ for £4210 on 5/3/2008 it is also secured to my property. I have on/off communications with this debt since last payment was well over a year ago and no communication.
I called them last month asking for settlement and was told I would need to pay the full amount to have the security removed from my property.
I asked for this in writing and the letter was a mess.. listing my current address (a rental) as the address that is secured. this was then followed up with a letter saying i needed to pay in 7 days.
Is the paying in full thing true?
If I pay it in full now will the CCJ be marked paid and will this help my credit file slightly till removed?

If they say they will only accept a full payment then they are entitled to do so.
If you pay it off then once this is marked on your credit file this would look a bit better than having an unpaid CCJ.

Welcome Finance HP £1375 Defaulted on 23/05/2008
This debt was a nightmare from the start, they spelt my name wrong, i had to resign they incorrectly added PPI of which £5k of the above balance consists of! They have never chased me since the early days aside from to send me the standard still in arrears statement. They have however secured the debt against my flat.

What was the date of the ccj on this one? again like the other having the CCJ shown as satisfied on your credit report will make your file look a bit better.

going.straight

Thank you for the reply

I've paid the vanquish as was low balance and not worth the interest no default etc but would u keep account open?

Halifax no I didn't update address I forgot to as wasn't using it silly I know but I will give them a call and see if they would be willing

Would you suggest waiting the first HSBC out and seeing if it passes? Could they put it back on my file for another 6 years in December?

Re the HSBC ccj I will pay this in full now do you know how long I should expect them to take to show ccj satisfied?

The welcome one is just a default no ccj

Another quick question I have a few small debts with dca none of which are on my file just get the odd letter and phone call would you prioritise these?