Advice

cjw1986

Afternoon all,


Hoping for some advice.


Many years ago I took out a career development loan of which the total value is around 23k.


I then had financial issues and defaulted on this and my overdraft at the time, which was around 1.9k


Capquest took the debt on and I make a very small payment at the moment which effectively will never clear the balance and have been since 2012 effectively without issue.


On checking my credit report I see the Overdraft which shows as being with the bank at the time and registered as a default from the end of 2011.


I have changed address twice since then and have heard nothing from either the bank or Capquest.


I called today the bank to settle this 1.9k with a view to effectively being debt free as per my credit report, as the 23k amount doesn't show (assume this is due to me making payments?)


They told me that the whole amount (25k) is with CapQuest and I need to speak with them.


Now I had ideas of settling the 1.9k and then looking to save with a view one day to owning a house.


Based on the above what are my options please.


If I am to call Capquest presumably they will want the full payment of the 25k which to be honest I simply can't afford to do. I would be dead before the balance was cleared.


Is there any likelihood of me ever getting a mortgage with this mess over me?


Thank you.

[Deleted User]

It's fair to say that lenders won't be overly keen to lend to you under the current circumstances.

It would be worth trying to come to a settlement.

sourcrates

Debt collectors are usually open to substantial settlement offers.

Usually they write to you with them, but no harm you asking them !!