Looking to the future.

Jm90

Hi all. My husband and I are 27 now. We both have debts from the past totalling Around £7000 between us.
We own and run our own company and it's just getting off the ground. We are doing well.

Anyway in the future we would love to eventually move away and buy a home of our own.

I hope to have all debts paid off by the time we are 30

Would It then take a further 6 years for past debts to be wiped off our credit history? Before we could get a mortgage?

Are we better to wipe one debt off whole at a time or to try pay bits off each. Ì am not sure what's the best way forward to be honest. We have both ignored it all for so long, we just now want it all gone.

Thanks

sourcrates

Hi,

Are your debts all defaulted, or paid up to date ?

I`m assuming a mixture of the above.

Jm90

Mostly defaulted to be honest. Nearly got a ccj which i managed to clear before it happened.

My husband however has a ccj but we don't know where or who from, doesn't even say who from on his credit file. That we can find

EssexHebridean

The 6 years (5 in Scotland) runs from the date of the defaults I believe.

As for your question about a mortgage, some negative history on your file may not be a problem, but it's really a case of getting everything cleaned up as well as possible. Best idea for the time being is probably to sign up to the MSE Credit Club (free) as that not only gives you your current state of play with Experian but also offers lots of hints and tips in relation to improving your credit history, and will enable you to track over time how things are looking.