Trying to rebuild credit, EE debt holding me back!

Victoriamia

long story cut short
I was silly enough to take an iPad out in my name for an ex, didn't pay it when he did one as I was young and credit score didn't mean nothing to me - however NOW it does.
I have a credit score of 164/700 and although I have 3 credit cards (vanquis,luma,Aqua) and 2 phone contracts (o2) I find it difficult to obtain the credit I need.
I am trying to rebuild my rating for a finance car some day as soon as I can get one.

EE shows up as a negative on my report as "atleast one account has been in default/repossession" referring to EE
It has been in default since Feb 2015 amount is 982
And passed to Lowell
I contacted Lowell and they told me once paid they can not take the default off my credit file, so there's absolutely no incentive to pay it. As it won't better my credit rating in any way by paying it.
EE won't let me pay them either say to go through Lowell.
I desperately want my credit rating improve
What can I do in regards to this EE

GingerBob_3

You would think, would you not, that you could negotiate with the scum such that if you made full payment they would de-blacklist you, but if they won't de-blacklist you then they might very well struggle to get their money. It doesn't seems to work like that, such is the mad world of credit reporting. In fact, the way it often works means that it's in your long-term interests not to pay at all.

[Deleted User]

OP - a settled default, especially a recent one, will look much better than leaving it unsettled for 6 years.

Victoriamia

Exactly GingerBob,
If they won't remove the default, why would I even pay for it? It is going to stay on there for another 5 years (as one year has already passed) regardless of it I pay it or not. They said they didn't have he authority to take it off but EE said they cannot deal with me I must deal with the DRA. It's ridiculous. I just want to pay it and have it off my file

Thomas_The_Tank_Top

Victoria. The fact your ex did not pay is either here nor there.

You can whinge all you want about the nasty DCS. It won't change the fact it is you who is responsible to settle this debt.

One month before it drops off your credit file what is to stop the DCS hitting you with a CCJ which will give you another 6 years of hurt?

Anthorn

The debt is not owned by EE any more. They sold it to Lowell. So it is Lowell you need to pay.

If my experience of Lowell is anything to go by, they will apply to the County Court before the 6 years is up to stop the debt becoming statute barred. Then you'll have to pay it or be stuck with a CCJ.

If you pay it now the status will be changed to "Settled" and evidence of the default will stay in the history of the account. It's debateable whether lenders consider the history of settled accounts.

Victoriamia

Thanks for your help everyone. I finally persuaded EE to get me through to the collections department. They have told me as I've paid in full it will be settled and off my credit report now. Phew! Lowell told me they had no authority to do so and it would stay on there. EE said they could only deal with me if it was going to be paid in full today.

And as for the Lowell could apply a CCJ a month or so before it ends, I DO have another contract he took out (I was silly I know I've learnt) and I'm going to contact them to pay monthly instalments for that one.

Really appreciate all your help everyone Thankyou x

Thrugelmir

Victoriamia wrote: »

Thanks for your help everyone. I finally persuaded EE to get me through to the collections department. They have told me as I've paid in full it will be settled and off my credit report now.

What do they mean by "off". I wouldn't get too excited yet. If it were that easy to erase adverse history it would make CRA data valueless to end users.

Victoriamia

i have no idea Theugelmir, they just said to me it wouldn't be on my report. It will be settled. So it will still show I defaulted but I've paid it so the debt will be off. I'm not sure how it works but either way it should improve. Lowell refused To even settle it even if I paid in full because they're not authorised to aparantly n EE would have to do it

takman

GingerBob wrote: »

You would think, would you not, that you could negotiate with the scum such that if you made full payment they would de-blacklist you, but if they won't de-blacklist you then they might very well struggle to get their money. It doesn't seems to work like that, such is the mad world of credit reporting. In fact, the way it often works means that it's in your long-term interests not to pay at all.

If they removed defaults from credit reports then it would make them worthless to other lenders and they would not be relied upon. This would then mean people who manage their finances properly would not be able to get credit as easily.

But considering that you are still using the term "blacklist" shows you have no understanding of how credit reports work and seem like you will never learn!. No wonder your finances are in such a poor state!.

GingerBob_3

takman wrote: »

If they removed defaults from credit reports then it would make them worthless to other lenders and they would not be relied upon. This would then mean people who manage their finances properly would not be able to get credit as easily.

But considering that you are still using the term "blacklist" shows you have no understanding of how credit reports work and seem like you will never learn!. No wonder your finances are in such a poor state!.

Come on!


I already explained all this to you. I know exactly how credit reporting works (as much as it's possible to determine, with no inside info). The system acts as a blacklist for people who, by mistake (of either party), carelessness or intent, end up with negative marks against them. The statement from CRAs along the lines of "we do not have a blacklist" is one of the five or so "great lies" perpetrated by the industry. Of course credit reporting serves a purpose, but the methods employed are dysfunctional and in many cases work against the consumer.