Basic Help Please

MakeAChange_2

Oh i see. Because only a few weeks ago they were asking for the full amounts. I am awaiting my latest credit report at the moment but is it worth contacting lowell about these half price debt offers? Or should i wait for the report first.

Iv not done a plan of our finances yet as i am still awaiting confirmation on my hours for work so in the next few weeks i plan on starting some kind of finance plan to sort this out. Just no point in doing one yet if my wages will change.

MakeAChange_2

Update, some of my debts are not showing up on my report but i know that they have not been wiped as its too early, slightly confused, should i re-order reports again?

also when they are wiped off is the default date from when it first went into default? or from the last payment date? this still confuses me !

National_Debtline

Hi MakeAChange

You may find that not all of your debts show up on the same credit report as some creditors only report to one or two of Experian, Equifax and Callcredit. You could always get a copy from each of these three agencies which should give you a fairly comprehensive picture.

As for default dates, they won't necessarily reflect when you first missed a payment. Generally a lender would not default you until two or more consecutive payments had been missed (at the very least). The default drops off your credit report six years after it is registered, regardless of whether or not you make payments in the meantime. Hope that makes sense.

Dennis
@natdebtline

MakeAChange_2

Hello Dennis,

Thank you for your reply. What i am worried of is starting to make payments on something and the 6 years starting again, so from what you are saying that doesnt happen?

Most of my debts are years old and i havent had credit for quite sometime. But i dont want to start paying something only for the 6years to restart because iv made a payment. As in theory many of them should be removed within the next year or so.

But at the same time i want to take control now i feel able to both mentally and financially. Because my dream is to be debt free !

sourcrates

MakeAChange wrote: »

Hello Dennis,

Thank you for your reply. What i am worried of is starting to make payments on something and the 6 years starting again, so from what you are saying that doesnt happen?

Most of my debts are years old and i havent had credit for quite sometime. But i dont want to start paying something only for the 6years to restart because iv made a payment. As in theory many of them should be removed within the next year or so.

But at the same time i want to take control now i feel able to both mentally and financially. Because my dream is to be debt free !

Ok, you need to hang fire a minute, as if what you say is true, some, or all, of your accounts may be statute barred if you have not paid, or acknowledged them in writing, for any period of 6 years.

You need to know the default dates of each account, and work out if there's been a six year period like I described.

The 'cause of action date' (the point in time a creditor could of taken legal action against you) would be a couple of months prior to the default date, thats when the SB clock started ticking.

MakeAChange_2

Thank you sourcrates,

I know you responded previously and i have been trying to find old paperwork etc but i think i have confused myself now, it all gets a bit much!

Do you think i should print all my credit reports and just take them to CAB before i respond anymore? As i have already contacted Lowell since i originally posted

Im going to mess this up arent i !

sourcrates

MakeAChange wrote: »

Thank you sourcrates,

I know you responded previously and i have been trying to find old paperwork etc but i think i have confused myself now, it all gets a bit much!

Do you think i should print all my credit reports and just take them to CAB before i respond anymore? As i have already contacted Lowell since i originally posted

Im going to mess this up arent i !

Ok, Don't pay anything for now.

The default dates of each account will be on your credit file, it will state it clearly.

Get copies of your file from all three credit reference agencies, check these first.

CAB do a good job, but won't have the time or inclination to delve into weather an account is statute barred or not, it's something you should determine for yourself.

Post back when you have this information or PM me with the details if you wish.

MakeAChange_2

Ok great thank you so much

I shall get this sorted today and pm you if i can get them all online