Applicant in Scotland - Guarantor in England?!!!

VIPJEN13

skintandfat wrote: »

If the debt is statute barred then it's off your credit file (or will be in a year) and no longer exists
In Scotland SB means the debt no longer exists, in other parts

VIPJEN13

Nice selective choice of sentence - no I have credit which I am using in a good way is helping my credit score. What exactly has somebody sorted for me. What a horrible person - have you read the forum etiquette. Some people have come up with some good suggestions that have made me think about other options and look at things from a different perspective. Happy to take comments on board but you a right self righteous smug ***** .
Does having a go at people who are trying to deal with things make you feel good. Nobody is perfect but most people here to try and do better. Sone people here maybe suffering from mental health issues to do with debt, and underlying things that come with that - hope they don't get chatting to you.

-taff

If it's statute barred, let it lie. It will drop off.

I can't see the point of borrowing money you may not eb able to pay back or your guarantor may have to pay bak if you don't, just to get a credit file that looks squeaky clean, because it won't.
A default whether satisfied or not will stay on your file until it drops off.
Thi debt has laready defaulted, you cannot get rid of it, it will drop off by itself.

Don't be foolish and get a loan to pay a debt tht not longer exists anyway.

Get a vanquis card and concentrate on building up your credit with that.

Clive_Woody

Bit confused with what has been written but if this debt is statute barred then as others have said, leave it alone, it will drop off your file and in the meantime save the payments you would have made towards a deposit for when you get a mortgage and buy a house.

Herzlos

VIPJEN13 wrote: »

My brother works for a debt management with a high street bank so I do get good advice from him!

Seems fair except...

My brother is willing to be my guarantor

Is terrible advice!

Guarantor loans don't look good for your history, because it's the guarantor (your brother) that gets the loan, at a huge rate.
He's much better just getting a regular loan (maybe at 1/10th of the APR) and give you the cash. That's all a guarantor loan is.

Then you use that cash to clear your debts and pay your brother back ASAP.

VIPJEN13

Thanks all - have sorted out the old defaults that are about to drop off and tidied up the rest. Have contacted the creditors and agreed a plan. Thanks to all the kind messages of advice and constructive answers and suggestions. A mortgage is a few years in sight at long last!

System

VIPJEN13 wrote: »

What exactly has somebody sorted for me.

You worked with Stepchange did you not? They don't recommend digging deeper holes to get out of debt.

And if your brother didn't tell you this isn't the way to go then he's not that good at his job then again he works in debt management for a high street bank so it comes as no surprise he didn't given that talking people in debt into a consolidation loan with his bank is how he earns his money.