Facing up to it all

[sandostrich]

Before I start, can I gently ask that if you want to berate, criticise or ask questions not to gauge further information but to convey your incredulity please, pass this thread by. I am well aware I have made many stupid mistakes.

This story actually begins over a decade ago. I was homeless as my family died young and I was sofa surfing, living in my car and sometimes renting a room. One year I had about 15 different addresses.

I found getting credit easy and I used it to escape my reality, mostly, but sometimes also to help with necessary living costs. By the time I came to buy a house in 2005 I had a load of debt from loans and credit cards but still managed to get a mortgage. I repeatedly defaulted on my mortgage until I finally sold the house in 2013.

There must be umpteen unpaid store cards, credit cards, loans and other debt on my credit file, I haven't dared look for ages and ages. It must be beyond abysmal, really.

Since I haven't been able to access credit for nearly a decade many will now be very old.

I am horrified at how bloody stupid I was but my question is, how on earth to begin sorting my credit file out so I might in the future have a chance of obtaining a mortgage?

First thing is to get a copy of your credit file from experian or Noodle (google them - you may need to pay a small sum though I think nooodle is free)

You may find that some of the debts have fallen off your file as under the statute of limitations which means many debts can't be chased after 6 years without contact between lender and borrower. Some debts may have a county court judgement attached to them in which case they may still be perusing you for them but even then they are likely to accept a reduced sum in full and final settlement.

Get your credit report. Things may not be nearly as bad as you think.

Good luck. I hope things work out for you.

Many thanks. I am embarrassed things got this bad.

Get your credit file.
Add up every single penny you owe

• by lender
• by type
• by interest rate

anything that you are paying the minimum, convert the direct debit to a standing order right away. Anything that has lapsed, talk to them and see whether they will support you through Step Change

it will be a 5 year process
but you'll do it

come back with some of the numbers and you'll get detailed support

You need to check as soon as possible if you can, I use noddle and it's free. A family member of mine had a similar situation and ignored it all. She was stopped for speeding and they did a check on her and found out she had a CCJ against her and was arrested. She soon sorted it out offered to pay all companies a small sum each month. Most companies will accept anything no matter how small as if they take you to court (expensive for them) and court finds you have made an offer the likely outcome is they will be made to take that offer anyway and would have wasted money taking you to court. Failing that you could file bankruptcy

Don't be emabarrassed OP there are lots of people in similar situations for all sorts of reasons.

Take a deep breath, find your credit file and work out what you're still being chased for and what you want to do about it. After al this time you'll probably find those companies who are still chasing are open to negotiation.

Been thinking about you OP. How are you getting on? I hope that things are better than you expected.