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But is it even a real term if this account doesn't exist anyway?! There's so many holes in it. No names, no accounts, no way of checking within the 30 days...
We have every intention of paying anything we owe ASAP (hopefully the next week or so) - god knows I don't want any debts other than my mortgage! But it just seems like it's a moot point - hence my questions.
Originally posted by evo21
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I assume you/broker filled in some kind of side sheet which named each credit card, store card etc one by one and the applicable balance on each. Broadly speaking all of this debt (or £3k of it) was assumed repaid/to be shortly repaid, when considering the amount to lend you.
Broadly speaking the contractual obligation reads "you have to clear 3k of your unsecured debt" it just has not named any of it. Whether you actually clear it and whether they will actually check is up to you to deduce. You have already admitted you have unsecured debt so it would only be a real talking point if you had zero debt and you then found that clause in the TCs.
Like previous posters have suggested, I doubt there is a formal check in place for this. I have heard that random credit checks can be carried out post completion but whether (a) they would do this and (b) actually take any action if they saw the 3k still unpaid remains to be seen.