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MakingProgress

Financial Stuff For PC

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Hiya folks,

Well in the past my finances have not been the greatest, but I'm doing my best to turn it all around and I'm making payments and getting stuff sorted.

I've just signed up for the full Experian account (£15 a month) so I can monitor my credit report and see what's what.

Just wondering how this kind of thing can affect future applications? I have a few settled credit accounts and one unsettled on my file (although I'm pretty sure it needs updating as I think it is settled), do even settled accounts create any kind of issues?

Times may be tough but I'm thinking of my future and trying to get my finances sorted, not only for future applications but also for mortgage, credit cards etc.

Any advice appreciated :)

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If you have debt but you are coping and paying it off through a plan that you have formulated then that's fine, lots of people are in this situation and as you say, times are hard.

I think problems arise when CCJ's are involved or you have been declared bankrupt etc. Whilst this is normally based on the individual I think the main thing they look for is if there is so much debt and pressure that you might be open to corruption.

In short if it's in hand you should be ok, if you have defaulted on payments and have had the courts involved then it may go for a review and be a bit tougher...

The only people who can truly give the thumbs up or thumbs down are the recruitment/vetting department of the force you apply to.

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Just an update on this. Got one default account (low amount of around £110) from a very old mobile broadband contract and this is being paid off. I'm aware the defaults (settled or not) stay on your file for 6 years.

With having settled default accounts, could that possibly hinder any future application? Anyone else been vetted with defaults?

Just thinking ahead that's all.

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Probably not but as everything is treated on a case by case basis only the relevant vetting department will give a definitive answer.

If you are not in the recruitment process already then the chances are you will probably have paid the defaulted amount off before you get to the stage of financial vetting!

I wouldn't let it stress you out too much, especially as it is done and you can't really change it and plus, as you say, it's not a massive amount either.

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Looks like I've picked up another default on my file, partly my fault but the company in question did not reply to my messages (email).

I know any chance of me coming a PC are a long way off yet, but even so, this is something I could do without.

Does anyone know if a company can withdraw a default? I know they will stay on file for six years otherwise :(

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Does anyone know if a company can withdraw a default? I know they will stay on file for six years otherwise :(

Yes they can but companies rarely do unless it was keyed erroneously. Once you've discharged the outstanding debt they'll mark it as 'Settled'.

You are correct - it will remain on file for six years.

Email isn't a satisfactory medium for communication regarding such important matters. You should really correspond only in writing - i.e. by post - keeping a copy of the letter and any certificate/proof of posting.

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Just an update on this.

Trawling through my credit report and I'm trying to weed my way out of some of the very low value defaults and get some things updated, oh to be an adult eh!

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Thanks mate.

Just a few black marks and some outstanding stuff. There is no rumour of PC recruitment anytime soon but If I sort my finances out, it's one less thing to worry about in the long run.

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