Experian Credit File

[Detroit]

Hello all,

First time post here, so please go as easy as you can… :tinysmile_twink_t2:

I took out some payday loans last year and got into a bit of a mess, and have been able to pay the bulk of these off. However I have 2 that are showing still with a balance and I have a default against the account. These are for relatively small amounts as well (200 each)

I never received any notification of these defaults so surely they cannot be enforced?

The fact a default has been registered is going to hamper me getting credit such as renewing my mortgage as they will be staying on for 6 years.

Any help at all would be great.

Thanks

[Nottingham2013]

Re: Experian Credit File

Expect 6 years of being financially handicapped. The only advice I can give is when the £200 gets passed to a DCA try to pay it of for £100 and get them to mark the account as settled. Give it 12 months and apply for a credit card for adverse credit like Capital One to start showing you can manage credit and also make sure you run your bank account immaculately. The only chance you have of getting a mortgage in the next 6 years is with your current bank who may give some weight to how you have run your current account with them or if you are looking to remortgage for like 60% of the value.

The unfair thing about defaults is that if you have 1 for £20 you might as well have 10 for a total value of £50,000. If I were you I would have defaulted on the other accounts at the same time but if you do that now you will have to wait longer till your file is clean.