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Impact of credit card debt on future mortgage

  • 06-09-2015 9:28pm
    #1
    BrowmThomas
    Registered Users Posts: 206 ✭✭


    Hi,
    Sorry to hijack the thread - my story -
    I had a credit card with mbna. I genuinely thought I had repaid it BUT they sent me letters to repay and the interest added and I think the final correspondence with them was for between 3 and 4 thousand euro! (At the time I couldn't repay as I had been screwed out of a large deposit for a business i was going to set up!)
    Stupid but I ignored mins as it wasn't high on my priority list.
    2 years later Cabot started contacting me. I agreed over phone to repay €2000.
    I just opened a statement from them that total repayment is 4 thousand and I have paid €2200.
    I recently ran a credit check and mbna shows.
    Question - I want to get a mortgage in the next 2 years - do I stand a chance??? Do I repay them the remainder of the 4 thousand??


Comments

  • #2
    slimjimmc
    Registered Users, Registered Users 2 Posts: 7,786 ✭✭✭slimjimmc


    Post split out from Consumer Issues and moved to own thread in Banking etc


  • #3
    NIMAN
    Registered Users, Registered Users 2 Posts: 34,088 ✭✭✭✭NIMAN


    Don't know what advice is right, as you won't find out for sure until you put your mortgage application in.

    But I think it's safe to assume that the credit card details will show up on your history.


  • #4
    BrowmThomas
    Registered Users Posts: 206 ✭✭BrowmThomas


    I had posted in another thread where advice was given about Cabot. Someone was told not to pay them.

    Basically I will have 25/30 thousand for a deposit by summer next year and have set up a savings account etc but am worried the credit rating will go against me. (I will be looking for around 150 thousand) Bank have proof I repaid my business loan in full with no problems. I had one other loan years ago that I paid too.


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