Debt has finally caught up with me

andy26599

Great thanks. It's taken First Direct almost 8 months to default me, but that's also now dropped off my report. Time to start paying the piper now. 

sourcrates

MummyDN said:

This has been an insightful thread. How does defaulting affect you in terms of re-mortgaging?

Re-mortgaging with your existing lender does not normally require a credit check.

If you went with another lender, a good broker would be required, you may not get the best rates, but you should still be able to get a deal of sorts.

fatbelly

MummyDN said:

This has been an insightful thread. How does defaulting affect you in terms of remortgaging?

And in 6 years' time you will have a clean credit file. This would not happen if your file was marked with arrangements to pay

MummyDN

Thank you sourcrates & fatbelly! 

Grumpelstiltskin

CCJs for normal credit debt are rare,  so don't worry about them.

6 year period? What exactly are you meaning? There is the 6 year statute barred where if you haven't paid anything towards the debt for 6 years it becomes statute barred.

If you have problems and worries I suggest you start your own thread then we can give you the best advice.