Default help

[Catherine238]

Hey all and never in doubt

Never in doubt you helped me so much last year via another forum.

Last we spoke you confirmed that 2 of my cca were enforceable : ( well 1 year on they are still there I have moved home to save for a mortgage all good so far : )

Here is my problem
C l finane £1648 default falls off December2012/ January 2013

Cabolt £988 original debt £680
Default falls off January 2013

I have just found out co ownership do accept settled defaults on credit file if settled for over a year ( happy days get mortgage early )

What I want help with is, what is my chances for a full and final with default removal??? Could get a great mortgage if this was possible : )

If no chance what's the best course of action to get a good reduction for a settled sum??

Great site never in doubt took me ages to find you!!!

All help appreciated

Catherine

[Never-In-Doubt]

Re: Default help

Hey all and never in doubt

Never in doubt you helped me so much last year via another forum.

Last we spoke you confirmed that 2 of my cca were enforceable : ( well 1 year on they are still there I have moved home to save for a mortgage all good so far : )

Here is my problem
C l finane £1648 default falls off December2012/ January 2013

Cabolt £988 original debt £680
Default falls off January 2013

I have just found out co ownership do accept settled defaults on credit file if settled for over a year ( happy days get mortgage early )

What I want help with is, what is my chances for a full and final with default removal??? Could get a great mortgage if this was possible : )

If no chance what's the best course of action to get a good reduction for a settled sum??

Great site never in doubt took me ages to find you!!!

All help appreciated

Catherine

Hiya

Personally i'd wait - not that long to go and to be fair, as they are so old anyway i'd look to get mortgage anyway - cos not all lenders do a full 6 year search if there is nothing bad showing in the last 3 years, usually. That said, i'm not trying to cost you money or hinder you in any way, but surely prior to making any offers - you ought to test the water, so why not apply and see what happens? If they knock you back citing the defaults, you can then ask if paying them off would help, and if they say yes then you know what to do (come back here and read this: ---> Full & Final Settlements Explained) however if they say it won't matter, then at least you've saved a few quid.

Make sense.....?

[Catherine238]

Re: Default help

Hiya

Personally i'd wait - not that long to go and to be fair, as they are so old anyway i'd look to get mortgage anyway - cos not all lenders do a full 6 year search if there is nothing bad showing in the last 3 years, usually. That said, i'm not trying to cost you money or hinder you in any way, but surely prior to making any offers - you ought to test the water, so why not apply and see what happens? If they knock you back citing the defaults, you can then ask if paying them off would help, and if they say yes then you know what to do (come back here and read this: ---> Full & Final Settlements Explained) however if they say it won't matter, then at least you've saved a few quid.

Make sense.....?

Thanks NID makes so much sense defo going to try that first.
Catherine x

[Never-In-Doubt]

Re: Default help

Thanks NID makes so much sense defo going to try that first.
Catherine x

Best of luck, please keep us updated and fingers crossed you can get the house ok

[Catherine238]

Re: Default help

Best of luck, please keep us updated and fingers crossed you can get the house ok

well made the call to mortgage shop explained the situation because i would need a momentum mortgage with ulster bank (RBS) and they said that they would spot it on my file and basically no point : (

nid is there a good chance they will remove for a f&f if not then i would just wait but if there was a good chance i would try it!

by offereing a f&f could they chase me for aknowledging the debt and take me to court for years to come if it was too much of a settlement??

thanks nid last straw to grab lol

[Never-In-Doubt]

Re: Default help

Can I ask, your credit file (as it stands now) - how does it look for items over the last 3 years? Basically, Ulster will search Equifax and almost certainly Experian, so if for instance you have nothing at all derogatory on there, but have a few live normal accounts - from within the last 3yrs, then this could overrule any full 6yr search they may perform.

Why do you have to use Ulster? Any reason (and you in Ireland for example)?

They will not remove the Default Notice, regardless if you pay or do not. Who issued it and when (what was the amount owed)....

[Catherine238]

Re: Default help

Can I ask, your credit file (as it stands now) - how does it look for items over the last 3 years? Basically, Ulster will search Equifax and almost certainly Experian, so if for instance you have nothing at all derogatory on there, but have a few live normal accounts - from within the last 3yrs, then this could overrule any full 6yr search they may perform.

Why do you have to use Ulster? Any reason (and you in Ireland for example)?

They will not remove the Default Notice, regardless if you pay or do not. Who issued it and when (what was the amount owed)....

yeah i live in belfast and they do first time buyers mortgages with less deposit needed.

i have nothing negative on my account since that in dec 06. i was able to get a credit card and car finance i never miss a payment in 3 years.
thanks nid

[Never-In-Doubt]

Re: Default help

yeah i live in belfast and they do first time buyers mortgages with less deposit needed.

i have nothing negative on my account since that in dec 06. i was able to get a credit card and car finance i never miss a payment in 3 years.
thanks nid

So you currently have a credit card and car finance? If so then try applying for mortgage in principle and see what they say - they may not even see the old (very old) default.....

It's worth a go, surely?

[Catherine238]

Re: Default help

So you currently have a credit card and car finance? If so then try applying for mortgage in principle and see what they say - they may not even see the old (very old) default.....

It's worth a go, surely?

Actually your right what harm can it do I haven't any searches on my file so why not

Thanks nid

[Never-In-Doubt]

Re: Default help

Actually your right what harm can it do I haven't any searches on my file so why not

See what they say, if it's a no then you'll be best waiting, that's the only real advice to offer right now.....

Keep us updated