Will F&F Clear Bad Credit Ratings?

[Josoap]

I really do!

My husband and I have substantial dept due to having 2 babies very close together for the past 4 years we have been making token payments to our creditors.

We now find that 2014 seems to be treating us well (well, better!) financially and have started making plans to clear our debts (F+F's) in order to (hopefully) move our mortgage from the nasty NRAM to a more manageable interest rate elsewhere.

Obviously, the 'advice we have received from our creditors is to clear the debt in order to repair our credit ratings. But reading some of the advice on here has lead me to believe that the defaults against us (all dated summer 2010, 9 in total) will count against us until 2016 anyway, and at that point we wouldn't necessarily have to pay the dept anyway?

Have I got that about right?

[IF]

Re: Will F&F help Credit Ratings?

Hi Josoap, I've moved your post to here, for more support and replies

[Josoap]

Re: Will F&F help Credit Ratings?

Thanx, Like I said I'm new to this so may make a few mistakes

[IF]

Re: Will F&F help Credit Ratings?

Thanx, Like I said I'm new to this so may make a few mistakes

No worries, that's what we are here for

[ken100464]

Re: Will F&F Clear Bad Credit Ratings?

Welcome Josoap.

Each debt is different and behaves differently so is difficult for anyone to really advise on the information you have given.

The best way to get good solid advice to assist in your decisions is to set up a diary with each debt listed seperate..

Some may be unenforceable some may not. Some may be with DCA's you need to watch and some maybe inept and easy to see off.

Immerse yourself in the forum, get your diary up and watch the advice flow.

Good luck in whatever you decide to do

[IF]

Re: Will F&F Clear Bad Credit Ratings?

Josoap, If you could, it would help Never-In-Doubt (Niddy) if you could set out your accounts like this, 1 post for each account:

• Type of account (credit card/loan)
  
  
• Date commenced (ideally before Apr 2007)
  
  
• Approx balance
  
  
• Date last paid (approximate date you last made a FULL payment)
  
  
• Are you on arrangement or not paying
  
  
• Status (default/in arrears/up-to-date)
  
  
• Account owner (who is writing to you, a DCA or the lender)