Project;lets get this sorted.

Willing2Learn

coldfusion wrote: »

Obviously not, hence me posting this on here saying i am willing to resolve them, SHOULD i resolve them - you hear/read all sorts of opinions.

coldfusion wrote: »

… i was asking for opinions on IF i should repay them, if they are worth repaying will it make any difference etc etc etc.

If you are simply asking for an opinion, then yes, you should settle the CCJs at the earliest opportunity. You can set up instalment plans to make your repayments easier to manage.

coldfusion

Willing2Learn wrote: »

If you are simply asking for an opinion, then yes, you should settle the CCJs at the earliest opportunity. You can set up instalment plans to make your repayments easier to manage.

Of course i am asking for opinions - will it make any difference to my credit score though over the next however long if i do settle them?

[Deleted User]

Opinion?
Yes you should pay them - you owe it so pay up.

And stop focusing on your credit score - it’s not a real thing used in lending decisions.

Willing2Learn

coldfusion wrote: »

I can afford to pay them off now over the next few months as my position is different.

I just don't get it. You are saying you have the income to settle the accounts over the next few months. Your creditors could seek enforcement. Why not simply settle the accounts?

You have said your main question is about the impact to your 'credit score'. Your credit files have toxic data recorded on them for six years. A CCJ trashes your 'credit score' whether or not the accounts are settled. But since lenders neither see nor use your 'credit score', it does not really matter.

coldfusion

!!! wrote: »

Opinion?
Yes you should pay them - you owe it so pay up.

And stop focusing on your credit score - it’s not a real thing used in lending decisions.

What do you mean its not a real thing used in lending decisions?!??

[Deleted User]

coldfusion wrote: »

What do you mean its not a real thing used in lending decisions?!??

Lenders don’t see, care about or use your credit score when you apply for their products.

They look at the data and history on your credit files.

Not the made up CRA score and rating.

coldfusion

Willing2Learn wrote: »

I just don't get it. You are saying you have the income to settle the accounts over the next few months. Your creditors could seek enforcement. Why not simply settle the accounts?

You have said your main question is about the impact to your 'credit score'. Your credit files have toxic data recorded on them for six years. A CCJ trashes your 'credit score' whether or not the accounts are settled. But since lenders neither see nor use your 'credit score', it does not really matter.

Ok so now im confused - lenders dont use or see your credit score!??? what is the point in having it then if they dont use it? when they run a credit check, what do they see? What do they base their decisions off?

"Why not simply settle the accounts?" - i was asking on here because i have seen varying opinions from people saying its pointless settling them as it makes absolutely no difference, hence me making the post in the first place.

coldfusion

!!! wrote: »

Lenders don’t see, care about or use your credit score when you apply for their products.

They look at the data and history on your credit files.

Not the made up CRA score and rating.

So basically the more things "satisfied" and kept upto date account wise will start to help me fair better when it comes to things such as attaining credit?

Willing2Learn

coldfusion wrote: »

Ok so now im confused - lenders dont use or see your credit score!??? what is the point in having it then if they dont use it? when they run a credit check, what do they see? What do they base their decisions off?

When a lender considers an application for credit, they score you independently using the data held in your credit file, added to the data you submit in your application form, added to the data they may already hold on you as an existing or returning customer. They are principally interested in how you have conducted your accounts over a six year period. Having a CCJ on your file will have an impact on how the lender views you, and what lending products (if any) are the most suitable.

coldfusion wrote: »

So basically the more things "satisfied" and kept upto date account wise will start to help me fair better when it comes to things such as attaining credit?

Being able to successfully apply for credit is principally determined by the recorded management of your reported credit accounts.

coldfusion

Willing2Learn wrote: »

When a lender considers an application for credit, they score you independently using the data held in your credit file, added to the data you submit in your application form, added to the data they may already hold on you as an existing or returning customer. They are principally interested in how you have conducted your accounts over a six year period. Having a CCJ on your file will have an impact on how the lender views you, and what lending products (if any) are the most suitable.


Being able to successfully apply for credit is principally determined by the recorded management of your reported credit accounts.

So basically get everything in good order as i can, CCJ's satisfied, any accounts up-to-date and in credit etc in order to turn the corner?