Tryingtofixit
Registered User
- Messages
- 7
.................Hi all,
Wonder if anyone can advise?
Over the past 5 years, I have had severe financial issues, due to failure of business, and then unemployment. I am now back on my feet thank god. Business resulted in debts to friends and family, and the need to pay these meant I was unable at times to pay off unsecured personal debts.
Now, I am trying to move forward , from a horrible few years. I am trying to face up to everything I left in my wake , and plucked up the courage to ask for a copy of my credit report from ICB. Knew it was going to horrible, but eventually decided I needed to know.
So this is the results :
Mortgage : fine no blemishes. Good to have something positive ( I don't live in the property , I rent a room elsewhere . Was me signing my name to it with my brother as it was seen as a good move by all at the time. All I did was sign my name... naive times ! )
Ulster Bank MasterCard. Amount €2297. They never chased it and to my shame I was happy to pretend it didn't exist. Says - Revoked - Scheduled removal date - July 2018
Friends First - Revolving Credit Account- was 10k debt but before I ceased payments I had it down to 1k. Says balance 0.00 . Status is - assigned to another party. Scheduled removal date -September 2018
Avant Card. Says latest balance date €5540 and last date 6 January 2013. I have been paying this at a rate of 110 euro per month to avant card and now Cabot financial. They froze interest. Status is element written off. Scheduled removal date Jan 2018.
I'm just hopeful , and would be very appreciative to hear of what would be the approach to take on these debts particularly the Friends First ( should I ring Friends First and ask who owns the debt now ? ) ,
and the Ulster Bank MasterCard ( approach them with a view to making payment arrangements ? Have always been amazed they haven't pursued me as I have my current account with them so they have my details )
and the Mbna/Avant card. Is that all I can do there?
I know I should have them cleared but I couldn't and then as I was forced to change addresses frequently through a period of instability , I took the easy option of not informing them to get some peace. I'm keen to try and improve my situation and want to get a mortgage in the future ( I have one technically but in name only ) .
I'm not ' young ' anymore and still want a future - 36
Apologies if I have sounded sorry for myself, not my intention at all! Just want to sort everything, do the best for my credit rating, and hopefully be in a position to move forward.
Many thanks in advance.
.................
Trying to fix it.
A few positive things from what you say.
1. You have repaid friends/family .(that is very important).
2. You have worked your way back to a reasonable position.
3. You wish to repay debts , as best as possible.
4. You have kept Mortgage up to date.
.................................................
a. On mortgage, sounds like you have signed but no benefit from it?
If its a case brother got benefit because you co-signed , have him pay it or pass any benefit to you.
b. Friends 1st. Have sold the rump of their book to I think Everyday finance.
Everyday may come back to you (but since you changed address and amount is small) it is unlikely. ie forget about it.
c. Ulster , again looks like debt is now written off ,so let sleeping dogs lie.
d.Mbna/Avant/Cabot.
As things stand it will take you 4+ years to finish that.( I think that is too long to be hanging)
Unless you can clearly afford 110 per mth for 4+ years ,I would renegotiate.
eg offer 110 for 2 years as full and final settlement or circa 2,000 up front.
They will yowl but if no you send no funds for a couple of months ,it is amazing how your offer becomes attractive.
..................
Keep all communication in writing and keep copies/notes of everything.
When you get closure with Avant , you can then look at contacting Ulster/Friends First to then sort them at YOUR pace.
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