New here too

[dubski]

Hello - my first post.
I used to have a great job, an executive car and a sports bike as a toy.
I got into terrible debt after a bad couple of years beginning in 2009 when my wife and I broke up, my ex moved to another country with my child, my mum died, my dad had a stroke and I lost my job - that all happened within a year!
The next year I lost my car, my bike and then my house and for the first time in my life at around 40 years old I had to claim jobseekers.
My life spiralled downwards as I lived in a crummy flat feeling sorry for myself.

But then I picked things up. I went to school and am about to finish a degree and have a super job offer for September this year earning decent money again.

I have 150k+ in debt and a lot of questions.

Been reading around here for quite a while and now need to sort some stuff out so I'll be posting in the relevant forums starting with my CCJs in that section.

[Amethyst]

Re: New here too

Well you sound like you have been through the Mill... hopefully this new job is a whole new beginning for you xx

£150k is a lot of debt - is some of that tied up in property ? are you renting your flat ? Is your job in financial services industry etc ? (Thinking Bankruptcy for clean slate maybe [MENTION=48934]Debt Camel[/MENTION]; )

Welcome to the forum xxxx aw:

[dubski]

Re: New here too

Thanks for your comment

I rent currently and yes most of it is from my property which was resold I believe at a bargain basement price. I bought it during the high prices and it got sold during the low prices.

I got my credit report off Experian and there are less issues than I thought but still the mortgage debt is massive.

I have been through step change and they advised bankruptcy. But I was also told by a friend who went through a job loss and consequent issues that due to my CCJs being registered in 2010, they maybe about to fall off my credit report.

I have no interest in credit again in my life but would like to move house after I start work to somewhere decent.

I have no idea what to do about the 130k mortgage debt though.

[Amethyst]

Re: New here too

So 130k is a shortfall....that is recoverable for 12 years from when it became due. If you have nothing though there isn't a great deal they can do to you. Have you had much in the way of contact from them since your house was repossessed ?

Your other CCJ's, yes they will fall off your credit file after 6 years - so your file might look cleaner for purposes of renting another property etc... however the CCJ's will still be live, they don't go statute barred, BUT the claimants will have to apply to the courts to bring any enforcement action on them - and again, if you have nothing, there's not a lot they can do.

It might be in your interests just to keep your head down credit/debt wise until things have fallen off your file if you haven't been getting letters and there's no outstanding court action, just until you are back on your feet. You will have another 6 years to worry about this mortgage shortfall though. As you start earning again then it is more likely they will pop back up. Of course we don't know the history so its impossible to know what might happen. But of course bankruptcy will put things on hold for another 6 years.

[dubski]

Re: New here too

Thanks again. There were other items Im sure I had have disappeared as there was a joint loan with my ex and a credit card I had at the time - these are no longer showing on my report.
Hopefully by the end of the year I'll have the mortgage only left on my report. As I said its only for renting purposes I need it clean.

I stopped paying the mortgage in 2009. The last contact I had was 2010 when I attempted to negotiate, through the courts, a considerably lower payment during my tough times. They said a big fat emphatic no and the judge ruled in favour of an eviction - I posted the keys back. Since then no contact.

I do have a question over on another section, as I wanted to keep it correct though if you are able to assist.

http://www.legalbeagles.info/forums/...-credit-report