how long do u have 2 wait until banks and other companys write the det off. i owe about £40,000.i have not been made bankrupt and 4 the last five years ive made it very hard if not impossible 2 be contacted. also when could i apply 4 credit again eg morgage
2006-09-12 00:18:04 · 9 answers · asked by steve o 1 in Business & Finance ➔ Credit
i live in the u.k
2006-09-12 00:57:29 · update #1
Come to INDIA and get loan again and again from the Bank
2006-09-12 00:25:51 · answer #1 · answered by aryanada 1 · 0⤊ 0⤋
It sounds like you could benefit from meeting with a credit counsellor. Fortunately, this service is completely free in the U.K. This is normally 10 years in the U.S.
I recommend calling one of the charities in the directory below. They each have a free telephone number and many locations throughout the U.K. They can show you how to rebuild your credit so that you can be eligible for a lower mortgage rate.
2006-09-12 02:15:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Well if u file for Bankruptcy it will be on your credit record for 7 yrs in the United States but in Hawaii it's 10 yrs. I know that's what I did 11 yrs ago. U can only file for Bankruptcy once. U should see if a credit counselor can help u out before u decide to file for Bankruptcy.
2006-09-12 00:33:46 · answer #3 · answered by KeeOMee 3 · 0⤊ 0⤋
sometimes they don't write them off, so you will hav ethem on your credit forever. did you know that they can show a payment was made and keep you on the books as long as they want. The law says that as long as a payment is made everyone 3 or 4 years then it starts the time over so they make sure a payment shows. I think you are screwed.
2006-09-12 02:59:44 · answer #4 · answered by 51ain'tbad 3 · 0⤊ 0⤋
Selling a debt is big business these days. Some of these places will chase you for ten, or more years. When they can buy the bad debt for five percent of the value, if they get anything is is a profit! Good luck!
2006-09-12 00:25:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Better try to work something out to pay it off. This will haunt you for the rest of your life. It will follow you to retirement years from now and they can garnish your social security check. Statute of limitations no longer protects you.
2006-09-12 00:25:10 · answer #6 · answered by normy in garden city 6 · 0⤊ 0⤋
you are in debt and applying for mortage again is unbelievable! try to settle whatever debt 40,000 £ is damn a lot dude! oh you are screwed. can't help you that much sorry!
2006-09-12 00:24:05 · answer #7 · answered by Cool Z 5 · 0⤊ 0⤋
minimize you lifestyle to everything cheap, get a better job and aquire professional advice, oh yea, cut up any cc you still have
2006-09-12 00:27:23 · answer #8 · answered by pawn 1 · 0⤊ 0⤋
ten years
2006-09-12 00:22:28 · answer #9 · answered by Anonymous · 0⤊ 0⤋