Me and the wife ran up hefty CC balances when we owned our own house 4 years ago, mine was 5 grand, hers was a bit less.
She was offered a settlement of 2500 last month, but because of the move we just couldn't risk it. My settlement was offered at 3500.
We weren't daft with our money at all, but both suffered long term back injuries within 2 months of each other, and we were living off CC until we got back to work. It didn't happen, we had to sell the house, lost 55k equity because we sold at the top of the housing crash. But paid mortgage off at least.
We've been carrying these debts ever since, the debt keeps being passed to different 'agencies' for collection, we speak to them, explain the circumstances, and it gets kicked back just to start again.
I've been paying 20 quid a month for 4 months now. They won't take money off Rachel because our incoming/outgoings don't stack up. Her account is on hold.
She was offered a settlement that we were paying, but due to the move costing us a few quid we didn't want to risk it and let them know that we'd pay in 3 months due to moving house etc.
Thinking my Credit rating would be shot, 6 months ago I set up an Experian account, fed in all my details and got as close to a perfect score as was possible ??
Applied for a CC to boost my rating but was declined ?
Just applied again now, and it went straight through.
It's all smoke and mirrors
The plan is to pay Rachel's off in the next 3 months, we'll still have the money when we move, but it knocks a huge hole in our 'buffer'. I'll just keep paying 20 a month and keep offering settlements until they accept one.
Paying this new CC off in full every month will help keep my rating high as well won't it ?