Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • luke1ok
    • By luke1ok 8th Aug 18, 8:36 AM
    • 10Posts
    • 1Thanks
    luke1ok
    What should I do with these two defaults? Help
    • #1
    • 8th Aug 18, 8:36 AM
    What should I do with these two defaults? Help 8th Aug 18 at 8:36 AM
    Hi everyone,

    I need a bit of advice with my defaulted accounts. I'm looking to apply for a mortgage in a few years so making sure my credit history is in a good state by the time I apply.

    I had 6 defaults (I know, I was an idiot years ago).

    Now I have 4 as 2 dropped off earlier this year.

    2 of those still have a balance next to them. One for 74 which will drop off in May 2019, and one for 54 which will drop off September 2019.

    The other two drop off in 2019 and 2021 but both have 0 balance. So by 2021 I will have zero defaults recorded on my file which is when I plan to start speaking to mortgage advisors.

    My question is, what should I do with the two defaults with the 54 and 74 balances? Should I just leave them and wait for them to drop off? Or should I ring up and pay as soon as I can? (If I do this will the default date re-set?).

    The rest of my credit history has been excellent the past few years. No missed payments.

    Thank you in advance for any guidance.
Page 1
    • StokieBecks
    • By StokieBecks 8th Aug 18, 9:02 AM
    • 4,565 Posts
    • 27,469 Thanks
    StokieBecks
    • #2
    • 8th Aug 18, 9:02 AM
    • #2
    • 8th Aug 18, 9:02 AM
    Ideally you should pay them so all balances are zero . Doing this would not change the default date and they would still drop off in 2019

    Even though they are small balances if you leave them you may find they start persuing you for a ccj close to the time they are due to fall off your file which if you didn't react to immediately (perhaps if these companies don't have your most recent address etc) would cause you a lot more issues with your credit history.
    • luke1ok
    • By luke1ok 8th Aug 18, 9:42 AM
    • 10 Posts
    • 1 Thanks
    luke1ok
    • #3
    • 8th Aug 18, 9:42 AM
    • #3
    • 8th Aug 18, 9:42 AM
    Thanks for the info. I'll ring the companies and pay the balance later this month then.

    Do you think sending letters asking them to remove the default as a gesture of goodwill would be a good idea?
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

152Posts Today

1,340Users online

Martin's Twitter
  • Ta ta... for now. This August, as I try and do every few yrs, I'm lucky enough to be taking a sabbatical. No work,? https://t.co/Xx4R3eLhFG

  • RT @lethalbrignull: @MartinSLewis I've been sitting here for a good while trying to decide my answer to this, feeling grateful for living i?

  • Early days but currently it's exactly 50 50 in liberality v democracy, with younger people more liberal, older more? https://t.co/YwJr4izuIj

  • Follow Martin