hope after debt?

[sorting it!]

hi i hope someone can offer me a bit of advice regarding my current situation. through repeated stupid choices i managed to get myself in debt of 33k by the time i was 21. by continuing to live above my means and ignoring the reminder letters i missed lots of payments on c.c, p.l, car finance and c.u loan. i have since cleared the c.u loan but have now got a judgement as a result which was made in april 06 but i wasn't notified till sept. i had made and agreement with the c.u reayments but failed to maintain them. i then received a solicitors letter warning me of impending legal action. i wrote to the c.u and made another agreement which i honoured and cleared the debt and was also told there would be no legal action. my first question is is there anything i can do to remove this judgement?
after 3 yrs i have a debt of 11k left which i am making good progress in clearing. i am no longer in arrears with anything for the last 6mths. my 2nd question is, i wish to start looking into buying a house but have no savings of note. i would like advice on where i should start in the process of buying a house in the future. my earnings are about 30k excluding overtime and i would be purchasing on my own.
thanking you in advance.

 

[December]

The only way to have the judgment removed (I presume you mean that the existence of the Judgment has been published) is to pay it all off and apply for a Satisfaction to be lodged.

As regards buying a house in the future, perhaps you should look into the Affordable Housing / Shared Ownership schemes so that you are not taking on too much financial obligations.

 

[sorting it!]

thanks, ya i paid off the loan that the judgement is on a few months ago. im waiting on a credit check to see where i stand and im also on the affordable housing list for the past few months. i,ve been offered to apply for two houses but i didn't follow them up yet as i feel i need a little bit more time to free up some more money when i clear more debt. thanks for the advice at least i feel im on the right track!!!

 

[December]

Have you applied to have a Satisfaction of the Judgment lodged? Otherwise the publication of the existence of the Judgment (even though it is now paid off) can seriously affect your credit rating.

 

[Mag2006]

Have you applied to have a Satisfaction of the Judgment lodged? Otherwise the publication of the existence of the Judgment (even though it is now paid off) can seriously affect your credit rating.

I don't mean to hijack but can you tell me how to do this. My friend has a judgement against her for an old HP she paid off in full about 3/4 years ago, she was about 6 mths in arrears prior to paying it off and only found out about judgement about a year ago and was told she is stuck with it for 5 years which is unfair. She lost her job and fell behind in car repayments but the minute she got a job she borrowed from the CU and paid it off and has paid that off already, she just had a bad time and handled it badly. Can she avail of the above mentioned by poster??.

 

[lff12]

after 3 yrs i have a debt of 11k left which i am making good progress in clearing. i am no longer in arrears with anything for the last 6mths. my 2nd question is, i wish to start looking into buying a house but have no savings of note. i would like advice on where i should start in the process of buying a house in the future. my earnings are about 30k excluding overtime and i would be purchasing on my own.
thanking you in advance.

Ok I know I say this every single time to people who are in debt but want to buy a house (amazing how almost every second debt related post on this forum involves people with a history of debt trying to get a mortgage), but forget about buying a house until your credit history is in order.

First of all you cannot erase a judgement against you. But everything on the ICB is removed 5 years after its all paid off. So best bet is to get saving and wait until the day its gone. I would say that having a judgement on your record would make it very difficult to get credit.

Would also say that unless there is an error on the credit record they won't change anything or remove it until the 5 years are up. Having said that in my own experience banks can and do make mistakes and are willing enough to correct things if they are wrong.

 

[lff12]

I don't mean to hijack but can you tell me how to do this. My friend has a judgement against her for an old HP she paid off in full about 3/4 years ago, she was about 6 mths in arrears prior to paying it off and only found out about judgement about a year ago and was told she is stuck with it for 5 years which is unfair. She lost her job and fell behind in car repayments but the minute she got a job she borrowed from the CU and paid it off and has paid that off already, she just had a bad time and handled it badly. Can she avail of the above mentioned by poster??.

No.

Unless it was based on incorrect information.