Default and other minor/ish discrepancies on credit check

Roisin_Hooke

Hi there. Im 30, a trainee solicitor and am struggling with the NatWest law school loan I had to take out for my final year of law studies. The last year of study was a 10 year loan and amounted to about £17,500. I defaulted on the loan about 3 years ago. I set up a payment plan after the loan was sent to 'debt collectors'. I still owe £9,500. I also had a credit card with NatWest which was only about £250 but they're showing as 2 separate defaults on my credit file. I've done lots of credit rating checks and mine is considered 'very poor'. I missed several payments on my store cards about 2/3 years ago but since that hard time, my finances have been under control. I'm looking to buy a part rent part buy flat now and the NatWest loan is definitely ruining my credit score. Can NatWest let me pay the CC element off separately so that at least there's only one default on my file as I can't settle the larger amount in one go. I've asked them this and they said no...but they are two separate accounts. I did then default on two store cards at values of £250 and £500 about 3/4 years ago. I'm not getting past any of the help to buy surveys and moving forward as they all come back to me saying you need a good credit rating to use help to buy. I'm brilliant with my repayments now. But that's only been in the last two years or so. Any advice welcome! TIA

middleclassbutpoor

Think you will need to get copies of all of your credit reports and I would then go and seek advice from a mortgage adviser.

My understanding is that you can only be defaulted once for the same debt providing you have maintained the agreed payments following default. Defaults and any other blemishes on your credit file would remain on your credit file for 6 years and will be seen by lenders until they drop off.

I'm sure a mortgage adviser will have the experience to understand what your chances are in getting what you want.