Defaults!

Smithtasticness

Hello. My wife and I have a problem in regards to credit history and we wondered if anyone might be able to help at all.

We were in a debt management program through stepchange a little while back as we started getting in to trouble. We hadn't missed any payments but we knew that we would if we didn't do something asap. We didn't want to default of get more stuck.

We never missed a payment through stepchange and recently came in to some cash so paid every debt off in full. No settlements.

We are now in a much better place financially however because we were in a debt management program almost all of the creditors have defaulted up time after time. We want to get a mortgage but there's no chance for us with all the red on our credit histories.

Is there anything we can do? Thank you.

[Deleted User]

See a broker who specialises in adverse credit and save as large a deposit as you can.

macman

Or wait for 6 years until the defaults drop off your history.

Smithtasticness

So there's no way of getting the red removed or reduced?

[Deleted User]

It reflects your credit history.

System

Smithtasticness wrote: »

So there's no way of getting the red removed or reduced?

Only if the entries on your credit file were made in error which by your own admission they weren't as you were in a DMP therefore not complying with the terms of the original agreements you signed up to.

Time is the only thing that can heal a bad credit history.