Need a bit more clarity on UE please...

[StressHead]

I've read all the sticky's on UE, some of the diaries and done my own diary but I still have some qu's. I have defaults all over the place so I'm not worried about getting more.

What I need to know is:

If a CCA is deemed unenforceable, at what point will it be erased from my credit file so that I can start a fresh with my credit rating?
If a CCA is deemed enforceable, do lenders/DCAs usually accept F&F and then put 'Settled' on the credit file? Are you ever able to agree a lower settlement figure which can be paid over a matter of months?

I'm basically trying to work out how long it's going to take for me to sort all of this mess out and start building a good credit rating. I know I'm jumping the gun a bit as I've only just done my UE Diary but I like to know what I'm dealing with.

Many thanks.

[Never-In-Doubt]

Re: Need a bit more clarity on UE please...

If a CCA is deemed unenforceable, at what point will it be erased from my credit file so that I can start a fresh with my credit rating?

6 years as per all default. So 6 years from date of default.

If a CCA is deemed enforceable, do lenders/DCAs usually accept F&F and then put 'Settled' on the credit file? Are you ever able to agree a lower settlement figure which can be paid over a matter of months?

Forget this - settled/outstanding etc all the same. Forget credit, if you worry about credit this action is not for you.

I'm basically trying to work out how long it's going to take for me to sort all of this mess out and start building a good credit rating. I know I'm jumping the gun a bit as I've only just done my UE Diary but I like to know what I'm dealing with.

You'll be sorted in 6 years. Easiest way to describe it to you....

Many thanks.

Again!

[StressHead]

Re: Need a bit more clarity on UE please...

6 years as per all default. So 6 years from date of default.

Forget this - settled/outstanding etc all the same. Forget credit, if you worry about credit this action is not for you.

You'll be sorted in 6 years. Easiest way to describe it to you....

Again!

So... Will I at any point in the future be able to buy a house ever? Or is UE as bad as BR in terms of effect on credit rating? In terms of 6 years from default, is that the default date on Credit Expert? Does it effect the default date if I have made token payments/written to them after this default date?

Thanks AGAIN

[LooLoo]

Re: Need a bit more clarity on UE please...

SH - have you had a wonder round some of the other diaries? that helped me a great deal although I still ask the odd ahem question now and then (eh Nid)

I know it seems like the great unknown........ but I seem like a bit of broken record you need to trust the advice and help you are getting on here and this is the most up to date and the most personal you will get on any forum.

Just take a deep breath and realise you are in good hands and there will be an end in sight.

Take care

LL

[Never-In-Doubt]

Re: Need a bit more clarity on UE please...

So... Will I at any point in the future be able to buy a house ever? Or is UE as bad as BR in terms of effect on credit rating? In terms of 6 years from default, is that the default date on Credit Expert? Does it effect the default date if I have made token payments/written to them after this default date?

Thanks AGAIN

Hiya

Nothing at all like BR - basically the objective is to get defaulted across all accounts meaning no matter what, in 6 years time your credit file will be wiped as entries of this nature only last 6 years.

The difference with BR is that it never goes, lenders ask "have you ever been BR" to which you ought to say yes, if you were as they can just check trustonline and see for themselves as the entry will always be there, even though they cannot hold it against you once discharged.

Its quite easy to get your head around in that this is classed as adverse data, not formal data such as BR. So yes, if everything got defaulted in 2011, by 2014 you'll be ok to start applying for general credit (ie 3yrs) and maybe after a year of this you may get approved for a mortgage as most lenders only search back for 3 years.

As previously advised (several times) read and read more - everything you're asking is here already...... but don't worry, you'll be fine.