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04-04-2019, 22:47   #1
dinny1982
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Cabot financial, CCR and mortgage approval

I am or was hoping to get mortgage approval. So ordered my icb, which is clear and has been clear for years as was required for job I'm in. Ordered ccr assuming the same, only this shows a loan taken out in 2007 bought by Cabot in 2011 and still showing active on my ccr. Contacted cabot who have agreed to write it off now 8 years after zero contact with me..they had wrong address and contact details. This will now remain on report for next 5 yrs as written off

I was young and foolish back then and unemployed and I know you cant default on loans. I've had 8 or 9 loans and credit cards since and never had one missed payment. I had cleared all cards and loans in hope of getting mortgage approval.

Now it appears I will have to wait 5 years.

I was hoping for a mortgage if max 80000 as I have 100k.

Has anyone any advice? Thanks for reading essay
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10-04-2019, 04:25   #2
jayjay2010
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Hmm this doesn't sound right. If they agreed to write it off that long ago, I really don't think they should be reporting it now. I think you should definitely take this further and get them to investigate the issue.
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10-04-2019, 07:50   #3
dinny1982
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Hmm this doesn't sound right. If they agreed to write it off that long ago, I really don't think they should be reporting it now. I think you should definitely take this further and get them to investigate the issue.
Thanks for reply. I moved from where I was living in 2009, lost my job and lots of other things. 2011 Cabot bought debt in 2012 and never once had contact with me. So it remained active in hope I'd make contact apparently.

Only I saw ccr and contacted them itd always be active. It was finay written off day I called them 26 of March 2019.

Seems unfair a debt so old I've to start 5 yra blacklisting from now.
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10-04-2019, 07:56   #4
bleary
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Only I saw ccr and contacted them itd always be active. It was finay written off day I called them 26 of March 2019.

Seems unfair a debt so old I've to start 5 yra blacklisting from now.
Sorry its not clear Did you pay it ?
How much was it for?
Tbh a bank is looking for indicators that you are responsible and reliable.
You 'forgot' about this outstanding debt for years, you only contacted them when it might effect your new loan, they're not great flags
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10-04-2019, 08:04   #5
bleary
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Rereading your post it's clearer you didn't pay it even though you have 100k in savings
They agreed to write it off as bad debt, the consequences are 5 years of an impaired credit record.
And sorry but by your user name you were 27 when you fell into problems hardly a young kid.
I'm struggling to have much sympathy in this case.
You can always try to get a loan through a broker. The issue will likely be not the defaulted loan but how you dealt with it since.
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10-04-2019, 08:40   #6
Dav010
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I could be wrong, but statute of limitations is 6 years from last contact, then it stays on your credit history for 5 years after that, so wouldn’t that mean it will correctly be on your CH for another couple of years?

I’m struggling to see your side of this, you defaulted on a loan, the loan company had to wait a certain time before registering the default, and that default stays on your record for 5 years meaning, due to previous form, you are a lending risk.

Last edited by Dav010; 10-04-2019 at 08:45.
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07-11-2019, 15:55   #7
Striker10
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Hi Dinny1982,

Why don't you correct/amend it on CCR report for this write off loan?
Do you know actual contract end date for this write of loan on CCR report?


You may complete the online application form to request an amendment to your Credit Report at
http://www.centralcreditregister.ie/...bmit-a-request.


The decission will take between 20 and 40 days.

Best of luck!
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08-11-2019, 22:56   #8
the_syco
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Quote:
Originally Posted by dinny1982 View Post
Contacted cabot who have agreed to write it off now 8 years after zero contact with me..they had wrong address and contact details. This will now remain on report for next 5 yrs as written off
Quote:
Originally Posted by dinny1982 View Post
I have 100k
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Originally Posted by dinny1982 View Post
Has anyone any advice?
Have you considered paying the loan?
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