paying off student overdrafts

celligraphy

Hello I had two overdrafts when I was in college about 5 years ago and well I never paid them (I was poor at the time) and I think they got sold onto debt companies anyways now that I'm working I wish to pay off these debts and clear up my credit history I forget who the companies were , any advice on what to do thanks

newacc2015

celligraphy wrote: »

Hello I had two overdrafts when I was in college about 5 years ago and well I never paid them (I was poor at the time) and I think they got sold onto debt companies anyways now that I'm working I wish to pay off these debts and clear up my credit history I forget who the companies were , any advice on what to do thanks

After 5 years, they may already be written off. Your credit rating only lists your debts for 5 years. The debts might be written off.

Buy your credit rating from ICB and see if they are written off. Personally I would ignore them as if the agencies didnt collect the debts off you by now, they probably wont

celligraphy

Thanks for that I 'll have to go online now and see if I can get the credit check , either way I would like to help pay back someway

newacc2015

celligraphy wrote: »

Thanks for that I 'll have to go online now and see if I can get the credit check , either way I would like to help pay back someway

As a Bank, you have to factor in bad debts. It is part of doing business. AFAIK if you actually go and try to pay off this debt. It will be put back onto your credit rating and you will damage it again. The black mark is already gone after 5 years. Engaging your bank will only make the situation worse

If you really want to do something good. Write a cheque to VDP, not some debt collection agency who brought you debt for 10 cent in the euro knowing you most likely weren't going to pay it

celligraphy

newacc2015 wrote:

If you really want to do something good. Write a cheque to VDP, not some debt collection agency who brought you debt for 10 cent in the euro knowing you most likely weren't going to pay it

Sorry what's vdp? I was young stupid and broke and I really regret it , hindsight is a wonderful thing

LeinsterDub

celligraphy wrote: »

Sorry what's vdp? I was young stupid and broke and I really regret it , hindsight is a wonderful thing

Vincent DePaul

goldenhoarde

Saint Vincent De Paul =vdp

Plus the banks may be gone eg dankse nib

Raking over the coals may start the fire again leaving you with five more years of bad credit history

celligraphy

Oh ok didn't know they buy into debts , but will do thanks

celligraphy

Just thought I would update this revieved my papers from icb, and it just says no data found is this a good or bad thing thanks ?

slinky2000

I had the same when applying for a mortgage, the bank accepted it as a good thing.

dobsdave

celligraphy wrote: »

Just thought I would update this revieved my papers from icb, and it just says no data found is this a good or bad thing thanks ?

It means you have no credit history whatsoever. good or bad.

newacc2015

celligraphy wrote: »

Just thought I would update this revieved my papers from icb, and it just says no data found is this a good or bad thing thanks ?

It means it is gone. If you have had a loan within the last 5 years it should show up on the credit report. In your case it looks like it has been written off and gone off your report. You dont have to worry about it if you go to apply for credit in the future