Clearing up my credit file

[Deleted User]

In company records. They remain indefinitely.

rachelheels

Ok, the lender that got the ccj has gone bust, really don’t see howit would be an issue

[Deleted User]

Because the debts will have been picked up by someone else.

Anyway, it seems pointless discussing this further.  You know the risks and the consequences, you need to make your own decision.

adamp87

The overdraft is quite small to be honest to have a lot of charges within it. And against how much you are earning it should be easy to resolve.

The defaults already damaged your file massively. 

1) You could write to the bank, state you want to pay it off, are looking at a mortgage and as it’s a one off mistake feel it’s unfair to detrimentally damage your chances or something. (Note they are doing the right thing accurately reporting the default, and it’s very unlikely they will but it is possible). If not you’ll just have to pay it. 

2) The CCJ - be careful the company may have been sold or ran by administrators or debts sold on. If you don’t believe that to be the case you could apply for a set aside & if there’s no response because  there’s no company  you’d win I believe 

D3xt3r5L4b

rachelheels said:

If you knew the back story to the car related ccj you’d know why we are in no rush to pay. I’m not going over it but thanks for your helpful response.

if anyone else would like to help I would be grateful

Maybe if you told the backstory it would help rather than everyone now assuming that you’re purely trying to play the system and wait for it to drop off with no penalty on you. 

rachelheels

Maybe I don’t want to? I’m not going over it, it’s not relevant to this thread, the issue is the issue, regardless of the back story 

cymruchris

rachelheels said:

Maybe I don’t want to? I’m not going over it, it’s not relevant to this thread, the issue is the issue, regardless of the back story 

Usually the back story helps resolve the issue - as with more information people can give better advice - but simply with all that you want to 'share' then the answer is pay the CCJ as you owe it if you want to apply for a mortgage - unless you want to go through a specialist broker who will find you a deal with a provider that will accept a CCJ at a higher APR than current market rates, which means you'll pay a lot more for it over a period of time that will probably end up costing more than the CCJ.

D3xt3r5L4b

rachelheels said:

Maybe I don’t want to? I’m not going over it, it’s not relevant to this thread, the issue is the issue, regardless of the back story 

It is relevant to the thread. In the sense that other than trying to avoid it, it doesn’t explain why you’re not paying the CCJ or seeking removal if you feel it’s wrongly added. 

gizmo111

rachelheels said:

My partner and I have managed our finances badly for years. We have been guilty of ignoring things, and overspending. Our debt in £ not terms isn’t a huge amount, excluding car finance we’re talking low thousands, we earn £28k and £43k.

i have looked at both of our credit file son totally money. We want to be able to save a deposit an buy a house, and have a 3-4 year goal.

we are aware obviously our credit files will need to be good. From today, no payments on anything will be missed or even late. On his credit file there is a ccj for approx £8k in May 2017. It relates to a car finance agreement. The lender has gone bust and the car is literally worthless, sat in a storage unit Doing nothing, I realise it could be enforced at any time but in theory, if ti isn’t, will it just disappear in May 2023?

On my own there is a tsb bank account, it shows I owe £379. Default since 1st feb 2020. As this is the newest issue, this is the one I’ll hit first.

a huge amount of that balance, if not all, will be charges (not sure if that makes a difference?)

It shows it was updated  last on 31/07/20.

so simple question, what would you do to minimise the damage of this one?

repay in full? Argue to try and get the charges taken off and just repay any actual cash overdraft?

something else?

would really appreciate any help xx

Please don’t judge us, we have been daft, but we have had that moment recently where we realised, if we were sensible, we should have a secure nice home, not the money pit that is renting 

The CCJ will drop off in 2023, paid or not.  You will only have to declare it on a mortgage application if asked 'Have you ever had a CCJ' 
Arguing about the default will take so time and effort and unlikely to change anything - it is easier to pay it and have it marked as a satisfied default.  By the time you are looking at buying in 2024 it will be over 3 years old and there will be several lenders who will accept it, especially as it will be satisfied over 3 years and under £500.
When the times it will be worth getting a broker who specializes in adverse credit mortgages as they will know who to approach with your past issues.
Good Luck with saving for the house  

[Deleted User]

Clearly didn’t get the responses she wanted.