[richywilts]

ive got poor personal credit due to an old student overdraft defaulting me im in need of a new van in next month or two any ideas best places to go to either lease or buy with bad credit obviously im limited company but u get director credit checks thanks

[LT carpet cleaning]

Yes of course, you have bad credit due to an "old student overdraft".

 

[chris turner]

Wife/girlfriend?
Get them to take out a loan then loan it to you.
I did this to get my first van as girlfriend had a near perfect score so she got a loan at rock bottom prices and lent it to me. I then paid the monthly loan amount into her account.
You can draw up a loan agreement to make it more 'official'.

[rosskesava]

ive got poor personal credit due to an old student overdraft defaulting me im in need of a new van in next month or two any ideas best places to go to either lease or buy with bad credit obviously im limited company but u get director credit checks thanks

You've been a student in the last 6 years then? 

[richywilts]

ive got poor personal credit due to an old student overdraft defaulting me im in need of a new van in next month or two any ideas best places to go to either lease or buy with bad credit obviously im limited company but u get director credit checks thanks

No but because it never got paid back even though I have now cleared it its defaulted recently my credit had got near excellent then experience changed there scoring then this default happened and its knocked it right back

You've been a student in the last 6 years then? 

[rosskesava]

After 6 years it should not be on your credit rating. That is how the system works.

A default is when you don't pay. Not when you do.

Or are you saying that you've cleared the debt but were still paying it off in the last 6 years?

Do you mean Experian and not 'experience'?

[dazmond]

ive got poor personal credit due to an old student overdraft defaulting me im in need of a new van in next month or two any ideas best places to go to either lease or buy with bad credit obviously im limited company but u get director credit checks thanks

why do you need a brand new van?

save up and buy a second hand van and pay cash like most of us do.you can get a half decent van for 3k-4k if you look around.

if you want to improve your credit rating.get a credit card and pay it off in full every month for a year or so and thatll improve it a bit.

[andyM]

As Ross has said a Default is if you miss a payment or don't continue payments.
If you believe that information on your credit file is incorrect/ out of date then get in touch with the credit scoring company (Experian in this case?) and submit a Notice of Correction.

[chris turner]

It takes 6 years from the date the debt was 'satisfied' for the default to be wiped from your credit file.
Being a student loan it was probably many £1000s and took years to clear.
I defaulted on a credit card when I was 21, cleared the debt by 23 but spent the next 6 years unable to get even a mobile phone contract.
So from the point I defaulted on the debt to the time it had finally disappeared from my credit file was 8 years.
I'm now nearly 31 and have just got my credit rating up to a 'good' standard.
In richys case I could imagine much bigger time scales of being blacklisted depending on the size of the loan.

[Stoots]

Yes it should be removed from your file if the default was issued more than 6 years ago. If it hasn't been you need to get in contact with the credit agency's and get it removed.

I've only just got a default removed myself. I was declared bankrupt 12 years ago and hadn't been able to get anything since apart from a basic bank account. Somehow  I managed to get another default some years after bankruptcy  from a catalogue company and that's only just come off my file last September. 

Sign up to experian check what is on your file and when it will be removed. Then wait till that time and don't ever get into the same mess again. In the meantime buy a van

[DaveG]

There are 2 "free" credit ref websites, where you can check yourself out.

www.noddle.co.uk

www.clearscore.com

[richywilts]

just to clarify it wasnt a student loan it was a student bank account that id used the £1500 overdraft on never bothered to clear it then it began building up interest and went to roughly £1900 debt collecting company started chasing me for it finally began paying it off when got out of prison paid it but in the meantime its defaulted me somehow plus some old contract phone that i dont remember ever getting in 2009 that had a default against it but has recently came off in decemeber

ive recently got couple of credit cards to help build credit but anything else ive ever had on finance etc been paid couple of late payments here n there nothing major tho

i was just wondering if anyone had any links or experience of using such firms due to there own circumstances im looking to just change from 2 vans to one bigger one really and moving forward id like to just have a newer van so hopefully less issues and downtime

[Mick Kent]

Not everyone is single with only a rented flat to run with no wife or kids like you Dazmond. If we was we would all be laughing and saving  sadly mortgage, family costs etc stop some people from being able to save.

[ChumBucket]

Not everyone is single with only a rented flat to run with no wife or kids like you Dazmond. If we was we would all be laughing and saving  sadly mortgage, family costs etc stop some people from being able to save.

Dazmond- the eternal teenager!

[Dave Willis]

Richy was a student at the School Of Hard Knocks for a couple of years too after studying to become a pharmacist  so probably didn't save a lot. Did he get a degree in dispensing?

[richywilts]

Richy was a student at the School Of Hard Knocks for a couple of years too after studying to become a pharmacist  so probably didn't save a lot. Did he get a degree in dispensing?

funny guy arent ya 

good job i can take a joke

[Spruce]

Unfortunately leasing is out as they are stricter with that than a hp loan.

[elite mike]

cannot see what the problem is Richy you got a nice home good van good business , you should be able to to get an aston martin 

[rosskesava]

just to clarify it wasnt a student loan it was a student bank account that id used the £1500 overdraft on never bothered to clear it then it began building up interest and went to roughly £1900 debt collecting company started chasing me for it finally began paying it off when got out of prison paid it but in the meantime its defaulted me somehow plus some old contract phone that i dont remember ever getting in 2009 that had a default against it but has recently came off in decemeber

ive recently got couple of credit cards to help build credit but anything else ive ever had on finance etc been paid couple of late payments here n there nothing major tho

i was just wondering if anyone had any links or experience of using such firms due to there own circumstances im looking to just change from 2 vans to one bigger one really and moving forward id like to just have a newer van so hopefully less issues and downtime

Jeeez. Richy, with you, and I don't mean this horribly, it's like extracting gold from teeth. Maybe explain it all from the start. It all makes sense now.

As said above, check out what is what by using Noodle which is free and then get advise on what to do next.

Really, you should have taken advice and abandoned the debt when you went to prison (and I'm not criticising you on that score at all - you've paid your debt to society). Doing that may sound wrong to many on here but those who give credit know the risks involved. If they don't like it when that risk comes happens, then they shouldn't take the risk.

As for debt collection agencies, my advice to anyone on here is to pay 30% off what's owed and then ask for a settlement figure of no more than 10% of the balance. If you stick to your guns, they will give in but, very important, get it in writing first.

If the debt collection agency writes to you more than once a month or makes more than one phone call a month, they are breaking the law. Also, if you can show by way of an income/outgoings statement that their suggested repayments are causing you hardship, you can lower the amount to repay each month to almost any figure you choose and provided you make that payment, they cannot issue a default notice.

[Spruce]

just to clarify it wasnt a student loan it was a student bank account that id used the £1500 overdraft on never bothered to clear it then it began building up interest and went to roughly £1900 debt collecting company started chasing me for it finally began paying it off when got out of prison paid it but in the meantime its defaulted me somehow plus some old contract phone that i dont remember ever getting in 2009 that had a default against it but has recently came off in decemeber

ive recently got couple of credit cards to help build credit but anything else ive ever had on finance etc been paid couple of late payments here n there nothing major tho

i was just wondering if anyone had any links or experience of using such firms due to there own circumstances im looking to just change from 2 vans to one bigger one really and moving forward id like to just have a newer van so hopefully less issues and downtime

Jeeez. Richy, with you, and I don't mean this horribly, it's like extracting gold from teeth. Maybe explain it all from the start. It all makes sense now.

As said above, check out what is what by using Noodle which is free and then get advise on what to do next.

Really, you should have taken advice and abandoned the debt when you went to prison (and I'm not criticising you on that score at all - you've paid your debt to society). Doing that may sound wrong to many on here but those who give credit know the risks involved. If they don't like it when that risk comes happens, then they shouldn't take the risk.

As for debt collection agencies, my advice to anyone on here is to pay 30% off what's owed and then ask for a settlement figure of no more than 10% of the balance. If you stick to your guns, they will give in but, very important, get it in writing first.

If the debt collection agency writes to you more than once a month or makes more than one phone call a month, they are breaking the law. Also, if you can show by way of an income/outgoings statement that their suggested repayments are causing you hardship, you can lower the amount to repay each month to almost any figure you choose and provided you make that payment, they cannot issue a default notice.

The prison sentence wasn't because of the debt - it was entirely something unrelated.