Hi all,
I took out a loan with Natwest bank in April 2009, later that year I defaulted on the loan & it was sent to Apex Credit Mgt with whom I set up an agreement with & have been paying each month an amount to clear the debt.
Last month this default disappeared from my credit expert profile, which I was extremely happy about. Now I'm thinking what are my options, if I reduce my direct debit amount each month, or even stop paying at all, what will happen? I currently pay £200 a month & still have around 12k left of debt (the original loan was for 20k with an enormous interest rate).
I know its not the right thing to do, but I'm currently trying to save for a deposit on a house & the extra money a month would come in handy. But what I wouldnt want is a court order or CCJ or anything to affect my credit file as after years & years its finally on a decent score.
Any advice appreciated. Ta
I took out a loan with Natwest bank in April 2009, later that year I defaulted on the loan & it was sent to Apex Credit Mgt with whom I set up an agreement with & have been paying each month an amount to clear the debt.
Last month this default disappeared from my credit expert profile, which I was extremely happy about. Now I'm thinking what are my options, if I reduce my direct debit amount each month, or even stop paying at all, what will happen? I currently pay £200 a month & still have around 12k left of debt (the original loan was for 20k with an enormous interest rate).
I know its not the right thing to do, but I'm currently trying to save for a deposit on a house & the extra money a month would come in handy. But what I wouldnt want is a court order or CCJ or anything to affect my credit file as after years & years its finally on a decent score.
Any advice appreciated. Ta
Comment