Help with AP

jjeya

Hello,

I’m new here.
When I got married, my husband had a very bad credit score with a lot of debt. I took over his finance and paid off everything. The last payment was made this month. Few months ago, I checked our report on checkafile. I found out that he had an arrangement to pay on his virgin credit file. We are now planning to buy a house but the AP could be an issue. The marker will only be removed in 6 years. The mortgage broker told me that I could have a bigger deposit but we only have 10%. I noticed that in 2018, he didn’t make any payments for 6 months. Could we ask virgin to put a default and remove the AR so that it leaves the credit report this year. I don’t know if it makes sense. Can someone help me.
thanks.

Brie

Unfortunately because he defaulted on the agreement the credit reports are correct to report that.  Even if the money has now been fully paid the fact that he defaulted remains.  It would be incorrect to remove that.  To me it looks like this will remain until Jan 2027 that being 6 years from when the last default (red bit) was recorded.  Others may know better.  

What a mortgage company will make of this will depend on which reports they look at and what else is on them.  If they are only looking at Experian they will be seeing a sea of green which is great.  If the rest of the report looks like that it might be fine.

Make sure that there's nothing else lurking on the credit reports - both of yours.  Also have a look at how much credit you have available and see if you can cut that a bit to make you both more appealing as customers.  And ensure you are registered to vote as that also make you look more stable.  

jjeya

Hi, thank you for your explanation. But I thought if he had a default marker on his report, then it would be removed in 6 year. But they put an arrangement to pay. So it will only be removed 6 years from now so 2030. He wasn't aware that this arrangement would import his credit file. my question is can he ask virgin to change the ap to default and backdate so it goes from his report before.

sourcrates

You can ask them anything you like, they may do so as a gesture of goodwill, they may not, its free to complain.