Vodafone Default Advice

Ailo

Hi.

I am looking for some advice regarding a vodafone default from 2012. It is impacting my credit rating and I hope to get a mortgage in the future.

After numerous calls to vodafone to try and settle this, I have been given two options and I am unsure which ones to go for:-

1) Wait for 14 months and the default with be removed

2) Pay the Balance by January 2017 and they will remove as a gesture of good will.

It is alot of money to find within that time and I am wondering whether it may indeed be better to leave it for one more year? Or pay it to just see the back of it?

Thanks in advance

thunderella

Ailo wrote: »

Hi.

I am looking for some advice regarding a vodafone default from 2012. It is impacting my credit rating and I hope to get a mortgage in the future.

After numerous calls to vodafone to try and settle this, I have been given two options and I am unsure which ones to go for:-

1) Wait for 14 months and the default with be removed

2) Pay the Balance by January 2017 and they will remove as a gesture of good will.

It is alot of money to find within that time and I am wondering whether it may indeed be better to leave it for one more year? Or pay it to just see the back of it?

Thanks in advance

If you agree you owe the money, why wouldn't you pay it if you can afford to? :huh:

Ailo

Thats the issue I am having, I am unsure if I am able to afford that sum of money by that date without putting other finances at risk during that time. Sorry I didnt make that clear!

thunderella

Ailo wrote: »

Thats the issue I am having, I am unsure if I am able to afford that sum of money by that date without putting other finances at risk during that time. Sorry I didnt make that clear!

Then I would suggest you visit the Debt Free Wannabe board, post your SoA there (full details of what that is and how to do it is on that board) and they will help you pay off the debt you appear to acknowledge without putting your other finances at risk

sourcrates

Hi,

You dont say how much the Vodafone bill is ?

Its actually a very fair concession to agree to remove the default in return for full payment, that offer is rarely made.

But if you cant afford to pay it before then, then you cant afford to pay it, normally, repaying a defaulted debt will not result in the defaults removal, so as its just another 14 months till it drops off your file, waiting may be the best option.

Pop over to the DFW board if you have further debts you want help or advice on.

Ailo

The amount is just over £400. I believe the reason they have offered the removal is due to the numerous times (in which I had adequate funds) I had offered to pay the amount outstanding but they had palmed me off saying they could not locate my account etc. To get to thia point it has taken me years.

The reason I asked the question is that I feel the lady was in a round about way telling me to just wait (as you stated). I was just wondering what the actual difference to my report would be if i waited or if I paid the balance (apart from the default removed earlier)

Thanks!

sourcrates

Well a default looks bad to potential lenders obviously.

My advice would be to wait until it falls off your file naturally, it will be like it was never there.

Then as they are having trouble locating your account, wait until the balance is sold on to a debt collector, then challenge it using the "prove it" letter from the DFW forum stickies.

They have to prove you owe the money, so if they cant do that, its unenforceable, if they can, sort out some kind of payment plan, it wont reappear on your credit file.

Put the mortgage on hold for the time being.

MEM62

Personally, I would not rely on Vodafone being as good as their word and removing the default if you pay. They are not exactly known for their customer relations.

It would be prudent to settle the debt if you can raise the funds (Will they accept a F&F offer?) as a settled default always look better on your history. There is the theoretical possibility that they could take the matter to court up to the time it is statute-barred.

One other point to consider, if you have having trouble finding £400 you need to look long and hard at your financial position before taking on home ownership. In addition to servicing the mortgage and other regular bills you will have maintenance of the property to consider as well as 'unexpected' costs such as the boiler packing up or similar.