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Paying off a 3year old debt
DilbertJones
Posts: 670 Forumite
I am going to be applying for a mortgage at somepoint now or maybe up to a year or even two years time.
I have a £170 debt on my credit report dating back to feb 02, is it worth paying back as the company have made no effort to contact me since I moved house?
Thanks in advance for your help
I have a £170 debt on my credit report dating back to feb 02, is it worth paying back as the company have made no effort to contact me since I moved house?
Thanks in advance for your help
0
Comments
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Yes, you should pay the amount owed and ensure that your credit record is updated accordingly. They won't remove the entry but at least any prospective lender will see that its been satisfied.He huihuinga taangata he pukenga whakaaro – A meeting of people; a wellspring of ideas (Maori proverb)0
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So its definatley worth spending the £170 & not saving it towards any future mortgage?
Sorry If I am sounding dumb0 -
yes. a satisfied default will look much better than an outstanding one.
and £170 is not a lot towards a mortgage, when it could help secure a better interest rate if you pay off your default.0 -
Excellent, Thank you all0
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