Defaults removed

aimsxx

Hi! 

First time posting here as I can’t find an answer to what I need anywhere so hopefully someone can help! 

I defaulted on credit cards when I lost my job a few years ago. The defaults are now over 6 years old so are no longer on my credit file, however I am paying a small amount (£10)monthly to the 2 companies, intrum and pra group, and have done since I defaulted. 

Wanting to remortgage soon, and each time I have done I’ve been asked about these payments so think it will have an impact on the rate I get. I can’t pay the full amounts back at the moment, but could potentially pay an amount to lead to a ‘partially satisfied’ on my credit report. But as they aren’t on my report at the moment, will this put them back on for another 6 years?! 

Is this worse for my report than keep paying the monthly £10’s?! Which will probably be until I die! Any help greatly appreciated! 

Thank you 

Rob5342

Now they've dropped off they won't reappear. If you can afford to make a full and final settlement than that would be worth doing. You might want to make a CCA request before you make any offer, if they can't produce it then you can simply stop paying completely.

aimsxx

I wish I could settle them in full but unfortunately can’t at the moment. If I could pay something to settle them will the mortgage company see the partially settled status if they are no longer on my report? 

What’s a CCA please? And what would happen to the debt if I just stopped paying? 

I really don’t want to go back to getting letters and calls etc, that was the worst few months when that happened 
thanks 

sourcrates

Nothing you do about these debts will register on your credit file, settle them, partially settle them, ignore completely, doesn't matter, they are gone for good, and are no longer reported, nothing will change that status.

Check out the debt camel site for info on CCA requests -

Debts - why, how & when to ask for the CCA agreement · Debt Camel

Collection activity can be ignored if legal action is off the table.

Rob5342

The mortgage company won't see them on your credit report. The only benefit in paying them off in terms of getting.a.mortgahe  is so they don't show on your bank statement, so paying them off in full would be no better than making a partial settlement.

The CCA is the agreement you signed when you took them out. They have to provide that to take any legal action against you. If they can't provide that and you stop paying then they can't take any legal action to recover the money. They can still contact you to ask you to repay it though and probably will, but you can just ignore them.