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havent paid credit card for 3 years

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  • 20-01-2009 7:25pm
    #1
    cranky bollix
    Registered Users Posts: 583 ✭✭✭


    I have been away for the last few years and neglected to pay off my card.when I rang up the bank,they said my account had been cut off and referred to a debt company of some sort, and fowarded me to someone else who said that I owed 1500.500 of which was interest (I think).So I started to put money away to pay it off in one go , however now I have found myself unemployed.Its not much money but Im still finding hard to pay it off.

    How much damage will this have this have done to my credit rating.will this affect me if I want to get a mortgage in the future.
    Please help.


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    #2
    bills
    Registered Users Posts: 952 ✭✭✭bills


    well in fairness of course its going to effect you in the future. Its not going to look good that you didnt pay for 3 years:confused:


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    #3
    Mr. Presentable
    Closed Accounts Posts: 9,496 ✭✭✭Mr. Presentable


    I think the credit rating limit is 7 years. So, if you pay it off tomorrow, you'll be good to get a loan again on the 23rd of January 2016.


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    #4
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    cranky bollix wrote: »
    I have been away for the last few years and neglected to pay off my card.when I rang up the bank,they said my account had been cut off and referred to a debt company of some sort, and fowarded me to someone else who said that I owed 1500.500 of which was interest (I think).So I started to put money away to pay it off in one go , however now I have found myself unemployed.Its not much money but Im still finding hard to pay it off.

    How much damage will this have this have done to my credit rating.will this affect me if I want to get a mortgage in the future.
    Please help.

    Order an ICB report and find out whats on it.


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    #5
    cranky bollix
    Registered Users Posts: 583 ✭✭✭cranky bollix


    bills wrote: »
    well in fairness of course its going to effect you in the future. Its not going to look good that you didnt pay for 3 years:confused:

    Ya I know , you tend to forget about this when your on a beach somewhere sunny.

    In 7 or 8 years Ill be just about ready to get mortgage so maybe im not too bad.:D


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    #6
    cranky bollix
    Registered Users Posts: 583 ✭✭✭cranky bollix


    ICB report looks like the best idea thanks for that, I didnt know it was possible to get one of these.


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    #7
    Brainz
    Registered Users Posts: 205 ✭✭Brainz


    Believe it or not this might not even show on the ICB it depends what credit card company you where with. .

    if this is the case then you could be in the clear and have yourself a clear credit rating . . .

    if it is the case that your icb is clear you might be best off getting a solicitor to do a judgement search to make sure that there hasnt been a judgement registered as it has been passed over to a collection agency -

    If there has been a judgment registered well then you could be in a tricky situation if you ever go to get a mortgage . . .


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    #8
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    Brainz wrote: »
    Believe it or not this might not even show on the ICB it depends what credit card company you where with. .

    if this is the case then you could be in the clear and have yourself a clear credit rating . . .

    if it is the case that your icb is clear you might be best off getting a solicitor to do a judgement search to make sure that there hasnt been a judgement registered as it has been passed over to a collection agency -

    If there has been a judgment registered well then you could be in a tricky situation if you ever go to get a mortgage . . .
    What's this judgement lark ?


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    #9
    Brainz
    Registered Users Posts: 205 ✭✭Brainz


    basically when you dont pay your bills and it is passed to a 'debt collector' if the cant get payment they go to court to start legal proceedings to get the money the owe if the cant recover this they can register a judgement against you.


    quoted from MABS
    The worst thing you can do is ignore the summons, do nothing and hope that it will go away. The creditor will almost certainly apply for a judgment against you and will proceed to enforce this judgment to get their money. Ignoring later summonses that ask you to attend court to explain your circumstances could result in you facing prison, even though the debt itself is fairly small, as you may be considered to be showing contempt for the legal process.


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    #10
    cranky bollix
    Registered Users Posts: 583 ✭✭✭cranky bollix


    I havent heard anything from them in 2 years.the last thing i recieved was a letter telling me to contact the debt collectors office which i didnt do because i was away.i did contact the bank when i returned however who basically just told me what i owed.Im currently trying to pay off this ridiculous debt so that i can avoid any further action.
    thanks for all your help


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    #11
    Bottle_of_Smoke
    Registered Users Posts: 9,770 ✭✭✭Bottle_of_Smoke


    cranky_bollix wrote:
    So I started to put money away to pay it off in one go

    What was the logic behind that decision?


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    #12
    cherryghost
    Moderators, Technology & Internet Moderators Posts: 17,133 Mod ✭✭✭✭cherryghost


    No wonder the banks are in trouble, its all your fault.


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    #13
    cranky bollix
    Registered Users Posts: 583 ✭✭✭cranky bollix


    Bottle_of_Smoke wrote: »
    What was the logic behind that decision?
    I was getting paid cash,workin 9-6 mon-fri , no time to go to the bank , this seemed like an easier option.


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    #14
    partyguinness
    Registered Users Posts: 8,207 ✭✭✭partyguinness


    nipplenuts wrote: »
    I think the credit rating limit is 7 years. So, if you pay it off tomorrow, you'll be good to get a loan again on the 23rd of January 2016.


    Thats not strictly true.

    The bad debt shows up on their checks alright. It doesnt mean that they will not give you a mortgage, loan etc. They will just take it into consideration in deciding whether or not to grant loans/mortgage to you.

    Of course thats on the basis you have paid it off.

    Its small figure amount and you can just blag your own excuses on why it wasnt paid.


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    #15
    Bottle_of_Smoke
    Registered Users Posts: 9,770 ✭✭✭Bottle_of_Smoke


    cranky bollix wrote: »
    I was getting paid cash,workin 9-6 mon-fri , no time to go to the bank , this seemed like an easier option.

    Pay off what you can when you can directly to the overdrawn account. If you're saving money in your sock drawer you're getting no interest (and its very tempting to dig into when you're broke) and you will be charged interest on the amount overdrawn. So you pay more on an outstanding bal of 1500 than 1K

    You could get postal orders in the post office & with some credit cards you can lodge directly to them at the post office.


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