Explain 'Default'?

Goldfinger09

Over the last three years, we were with a debt management agency to clear 3 debts after our twins arrived.

In October this year, they told us we are now free of them three debts.

But we now need a new boiler and car.

My Experian score now is 934, but how?

It also shows a default each month over the last three years even though we were paying through a DMA.

Can someone explain all this please...?

CKhalvashi

The 'score' isn't worth the paper (or pixels) it's written on.

The CRAs don't lend money.

Does the boiler work? Does the car work?

CK

happy_bunny_2

Likely they defaulted the accounts if you were paying reduced payments.

It's the same default, just showing the status monthly.

What's the default date in the account? It stays for 6 years from that date, even when paid.

Goldfinger09

The default dates are basically every month for the last three years the way I seem to be reading the report looking at those red dots with the letter D in them.


And CHh, the boiler doesn't work 'properly', the service engineer has advised us to have it changed. And the car is only just hanging on.

CKhalvashi

Goldfinger09 wrote: »

The default dates are basically every month for the last three years the way I seem to be reading the report looking at those red dots with the letter D in them.

It will be the first of these that is relevant.

Anything after is not a new default.

And CHh, the boiler doesn't work 'properly', the service engineer has advised us to have it changed. And the car is only just hanging on.

Would some cheap oil filled heaters not do the job until there is money to replace the boiler? My boiler was on for only few days last winter, as I tend to end up wearing about 3 jumpers and/or a blanket. My OH and DDs are the same. Some would say I'm tight, we call it frugal.

Search the forum for 'bangernomics' thread on here for replacing the car. Use this link, don't change anything else but your postcode, and see what you can find. There are several cheap execmobiles within a few miles of me, so see what you can find here.

CK

Sinhanada

Cheers - I love the look of that page, and even though I don't need a new car (and couldn't afford the running costs) the BMW 5 Series looks rather good at £949!

No I won't go for it!

Goldfinger09

The boiler at the mo' is mainly used to heat the hot water. We were lucky looking back now really, I fitted a woodburner 5 year ago to heat the house, so we don't 'rely' on the boiler 100% now.

As for the car, we tow a caravan and due to a change in jobs, it would be better to have a 4x4 now.

CKhalvashi

Goldfinger09 wrote: »

As for the car, we tow a caravan and due to a change in jobs, it would be better to have a 4x4 now.

Any turbo diesel should do the trick for fuel economy/pulling power.

A Ford Mondeo, and even a VW Golf are good tow cars in diesel form.

Sorry if I seem a little off with debt. You've worked hard to get yourself out of it, and I'd hate to see you back in the position you were again.

CK