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Clearing Defaults
emerging_ostrich
Posts: 5 Forumite
Hi, I'm not sure this is the right forum but was hoping for a bit of advice, I currently have debts in the reigon of 13.5k.
The vast majority of this is non priority. By the end of the year I will have cleared what I owe on my priority debts & am managing to meet my minimum repayments on my credit/store cards ect. I am pretty much maxed out on all my cards and the majority of my "spare" income goes to paying interest and charges with very little off the debts.
I finally got brave enough to look at my credit history and although it's not that pretty it's nowhere as bad as I thought it would be. I have a communications account that was in serious arrears between 02 & 04 then was up to date for a year before being satisfied. I also have a default in May 06 for £329. Another mobile bill which I refused to pay after the phone was stolen and the exorbitant insurance they had stuck me with refused to pay out. I have no other missed or late payments.
I was hoping to be able to transfer some of my debt to a 0% card to give me a chance to make some inroads but they won't touch me. Is there any point in paying this old debt, would satisfaction at this late stage make any difference to credit companies or should I accept its already gone bad and put the money toward clearing a current debt? Any advice or suggestions are appreciated
The vast majority of this is non priority. By the end of the year I will have cleared what I owe on my priority debts & am managing to meet my minimum repayments on my credit/store cards ect. I am pretty much maxed out on all my cards and the majority of my "spare" income goes to paying interest and charges with very little off the debts.
I finally got brave enough to look at my credit history and although it's not that pretty it's nowhere as bad as I thought it would be. I have a communications account that was in serious arrears between 02 & 04 then was up to date for a year before being satisfied. I also have a default in May 06 for £329. Another mobile bill which I refused to pay after the phone was stolen and the exorbitant insurance they had stuck me with refused to pay out. I have no other missed or late payments.
I was hoping to be able to transfer some of my debt to a 0% card to give me a chance to make some inroads but they won't touch me. Is there any point in paying this old debt, would satisfaction at this late stage make any difference to credit companies or should I accept its already gone bad and put the money toward clearing a current debt? Any advice or suggestions are appreciated
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