Utility default

allstarz2016

Hi everyone I am new to the forums, I always read the weekly tips and figured I join the forums in hope someone would have advice for me, any would be greatly appreciated!

Back in 2011 I had a T-mobile account which I defaulted on, back then I was self employed, struggled maintaining regular work so I ended up not being able to afford to pay anymore.

I have grown up alot since then and starting to save for a mortgage deposit but this one account is still showing on my credit file.

I currently owe T-mobile £653 but I am at a loss on what to do??

The account defaulted on August 2011 so does that mean the default will disappear this year or August 2017?

My main worry is if I pay it off either via full and final settlement, paid in full or do I just wait til the default drops off completely?

I am worried if I decide to pay it off it will show on my file for ANOTHER 6 years which will seriously hurt my chances for applying for a mortgage, I am working so hard to get my credit rating sorted and I am unsure what to do next, please any help would be appreciated. thank you!

fermi

What is the actual "default date" on the entry?

Not the last D or 8 in a status update, but the date on the main part.

allstarz2016

Thanks for getting back to me so quickly, the actual default date is 10/08/2011

allstarz2016

P.S I am not allowed to post images, I can PM you a screenshot of the default if that helps also?

fermi

OK, so in that case the default and entire history of the account, including subsequent D/8s in the status history will be removed from your report 6 years from 10/08/2011 so 2017.

That will happen whether you settle it or not.

Settling it WILL NOT make it stay 6 years more.

All trace that the account ever existed will be removed next year, no matter what.

allstarz2016

So in your opinion is it even worth paying it off regardless if it will come off anyhow? I mean obviously the right thing to do is clear it but in the big scheme of things will it benefit me in the long run for example;- putting it towards my deposit instead.

Would mortgage lenders still be able to see it?

fermi

No, once gone no one will be able to see it on your report.

Paying it or not is your call.

Only danger in not paying it off, is that in theory they could try for a CCJ on it and add costs. Even then, if paid off to prevent the CCJ, or within one months of CCJ being granted, the CCJ wouldn't go on your credit file.

allstarz2016

Thank you for all your advice fermi, I figured its been this long already, no point in clearing it, I could put the money towards a better use, i.e deposit.

Have a nice day

Thrugelmir

allstarz2016 wrote: »

Thank you for all your advice fermi, I figured its been this long already, no point in clearing it, I could put the money towards a better use, i.e deposit.

Have a nice day

You'll just have to hope that no one pursues you for the debt owed.

allstarz2016

The debt was passed onto numerous debt collection agencies, I was living abroad for the majority of the default.

I have tried phoning the debt collectors and after numerous running around the debt ended up back with T-Mobile.