Tweet
Hello everybody, this is my first post on this forum which I have been reading now for some time. I have a long story that I will try and keep as short as possible, but I could do with some help on this as I feel its about time I got myself sorted.
When I was about 18 I started to discover credit cards, I very soon amounted a vast array of different lines of Credit that I was neither old enough to appreciate nor wise enough to control, mix my various lines of credit including a mortgage with a slightly wild youth and you can guess what happened next. I juggled this debt for a few years, god only know how until in the end it was too much for me to deal with. I went to a family 'friend' (I use the word friend very loosely and you shall soon find out why) & basically confessed that I had accumulated a vast amount of debt that I could no longer afford to pay & that I was now behind on my mortgage.
He assured me that he would deal with the problem & the fact that I had nearly £30k of equity in my house at the time meant that he could negotiate F&FS on all of my accounts, he promptly sold my house to a client of his & with the profits (which he now had) proceeded (I thought) to negotiate F&FS with my creditors. Although he told me some months later that he had dealt with all matters and I was now in the clear, guess what, he hadnt, in fact he had just taken the money and done nothing. I was then left in the terrible situation of having no money, no house & several very angry creditors.
I then moved & did not tell any of the creditors, opened up a bank account, got a credit card & mobile phone etc all of which I paid on time but inevitably the debt followed me. I moved again, didnt and still havent told my current bank/credit card where I am (I am however still paying them) & since then I have not registered on the electoral roll, applied for credit or effectively done anything that would highlight my existence.
I have however still run periodic check of my Credit File to see what was happening in the background at the old address.
My current situation is as follows, I had 7 CCJs registered between 2001 and 2005, these have now all disappeared from my Credit File as has any trace of any bad debt at all. I have noticed however that I have had two companies do searches on me for outstanding debt, Mackenzie Hall and Tessera, one nearly a year ago and one nearly two years ago.
My questions are as follows:
1: If I go on the electoral roll again & start the process of obtaining credit again without notifying anyone of my previous addresses is this likely to bite me on the arse again?
2: If the DCAs do catch up with me will they inform CRAs and will that link previous information to my file?
3: Am I better contacting these people and just paying off the old debts which I am loathed to but fortunately in a position to do?
4: What is my best plan of attack going forward as I have effectively been hiding from this for what seems like a lifetime.
Thank you everybody in advance for what I am certain will be a major eye opener.
When I was about 18 I started to discover credit cards, I very soon amounted a vast array of different lines of Credit that I was neither old enough to appreciate nor wise enough to control, mix my various lines of credit including a mortgage with a slightly wild youth and you can guess what happened next. I juggled this debt for a few years, god only know how until in the end it was too much for me to deal with. I went to a family 'friend' (I use the word friend very loosely and you shall soon find out why) & basically confessed that I had accumulated a vast amount of debt that I could no longer afford to pay & that I was now behind on my mortgage.
He assured me that he would deal with the problem & the fact that I had nearly £30k of equity in my house at the time meant that he could negotiate F&FS on all of my accounts, he promptly sold my house to a client of his & with the profits (which he now had) proceeded (I thought) to negotiate F&FS with my creditors. Although he told me some months later that he had dealt with all matters and I was now in the clear, guess what, he hadnt, in fact he had just taken the money and done nothing. I was then left in the terrible situation of having no money, no house & several very angry creditors.
I then moved & did not tell any of the creditors, opened up a bank account, got a credit card & mobile phone etc all of which I paid on time but inevitably the debt followed me. I moved again, didnt and still havent told my current bank/credit card where I am (I am however still paying them) & since then I have not registered on the electoral roll, applied for credit or effectively done anything that would highlight my existence.
I have however still run periodic check of my Credit File to see what was happening in the background at the old address.
My current situation is as follows, I had 7 CCJs registered between 2001 and 2005, these have now all disappeared from my Credit File as has any trace of any bad debt at all. I have noticed however that I have had two companies do searches on me for outstanding debt, Mackenzie Hall and Tessera, one nearly a year ago and one nearly two years ago.
My questions are as follows:
1: If I go on the electoral roll again & start the process of obtaining credit again without notifying anyone of my previous addresses is this likely to bite me on the arse again?
2: If the DCAs do catch up with me will they inform CRAs and will that link previous information to my file?
3: Am I better contacting these people and just paying off the old debts which I am loathed to but fortunately in a position to do?
4: What is my best plan of attack going forward as I have effectively been hiding from this for what seems like a lifetime.
Thank you everybody in advance for what I am certain will be a major eye opener.
Comment