Default credit card - mortgage advice needed please :(

puresoulmmm

Long story short, took credit card out around 2022 for €1500 maxed it out was paying it of .. lost a parent then my job and my rented house unfortunately I was a mess. My last payment made was January 2024, - fast forward I got my life together got a permanent job, and called today to see if I could make the payment in full, they advised me my loan had been sent to Cabot and that I could only ring them and pay on the 13th October as they haven’t received my file yet.

Before this hard time myself and partner had saved 26k and continue to do so. We will be newly weds next year and would like to buy a house. We qualify for the help to buy and first time buyers scheme. Have I ruined all chances for myself & partner?

Please try to refrain from hate as I’m already giving myself the worst time. & thank you 🙏 in advanced to anyone willing to give me any advice

L1011

You won't get a mortgage next year. But you could in the future, relatively near future too.

Pay the card off, and make absolutely sure it shows as paid on your Central Credit Register file.

Don't take out any more credit in the interim. Pay off any credit cards - if you still have them - in full every time every month.

Keep to the other "applying for a mortgage" account sanitisation rules - no gambling, savings amounts regular and don't withdraw from the savings account, etc.

After ~18 months, go talk to a mortgage broker. 1500 can be explained, particularly if settled in full. And you're only going to be part of the risk profile on a joint mortgage too.

lawred2

https://www.boards.ie/discussion/2058370331/default-credit-card-mortgage-advice-needed-please

Huh

Last payment was January of this year.

You've saved 26k.

Why on earth were you saving like that while not paying your credit card debt :/

puresoulmmm

my wife to be is Irish and I am an Irish citizen who only moved to the country in 2021(my mother is Irish) I got the card to start my credit, when I arrived I couldn’t get a SIM card in contract

puresoulmmm

thank you very much I appreciate your comment! Extremely helpful.

frank730

if the bank said you can now only pay to cabot it means the debt is written off, which will be held on CCR database for 5 years and all lenders can see this, get a free copy of your own CCR report first and see how bad it is. you are not getting a mortgage next year for sure.

Geuze

https://www.boards.ie/discussion/comment/122651088#Comment_122651088

It doesn't work like that in Ireland.

"I got the card to start my credit"

There may be a concept in the USA or other countries of using a credit card to establish a credit profile.

That does not happen here.