Vanquish Credit Card! 40% APR ! Getting some sort of decent Credit Score back!

lolly_896

Deleted_User wrote: »

Have they passed it onto a debt collector? I would get in contact with them and arrange a repayment plan with them if you can't afford to pay it all off in one go.

Yes it has been with the Debt Collector for quite some time, i took the mobile out on the day after my 18th birthday i was in the army so when the letters from Robinson Way came my mother just used to send them back saying NOT AT THIS ADDRESS I was going to pay them off they offered a settlement figure of approx £300 and i was prepared to pay them off in full (I do have the money) but they put a clause in the letter saying that they were within there rights to sell the remaning debt off to another collector!! So my mother rang and said unless this clause is taken out then it would not be paid they said this was standard in all letters and was unlikely to happen my mum wasnt prepared to take the risk! They said well its not your debt so forget about it. I havent once spoken to them, but if it is 7 years then it is wiped off my credit file, then it will be on there for another 7 years from when i pay in full! I have just got a mortgage with fixed for 3 years so by the time my mortgage is up for renewal the mark from "3 Mobile" should be off my file if i continue to ignore it ( They havent made contact for about 2 years)

Im sooooo unsure as to what to do!!!!

inmypocketnottheirs

lolly_896 wrote: »

Seems as though you all know a little bit about Credit repiar, i have a mark (dont know what it is called) from 3 mobile (Stupid young mistake) on my credit file from experian. I havent acknowledged this debt or anything and it has been about 3 years now since i have ignored will i be better off to continue ignoring or shall i just pay it?

I though i read somewhere that after 7 years they take it off anyways not sure how true this is? If somebody could shed some light x

If it is a default then even if you pay it off then it will still show on your account for 6 years from the date of the default. Basically a default makes you a financial leper, and you will find it very hard, if not impossible to get any further credit, bank accounts, mobile phone contracts. A default is as bad as a CCJ.

I state again, even if you now pay this default, it will remain on your file for 6 years from the date it is entered. You may, if lucky be able to negotiate with whoever the debt is registered with, to remove the default as part of the settlement.

What you must do is get a copy of your credit file from Equifax and Experian to see what is there and who has put it there.

Good luck!

[Deleted User]

Just had a letter today refusing me a Vanquis Abacus card!

Strange how I was accepted for an Aqua card not long ago but not a Vanquis card with higher APR than Aqua.