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Notices of corrections aymz1983

Posted: Mon Mar 06, 2017 8:27 pm
by xXCcsc918Xx
Hello



I'm beginning to think about home ownership and mortgages and everything that comes with it. So I've trawled through my credit report, looked at my current outgoings to see where I can fit back (in so I have a long record for affordability).

By the time I want to start applying (beginning of 2020) there will only be (and I don't intend to change this!) one default which would drop off end December 2020 and which I will settle this year, and one CCJ.

The CCJ isn't in relation to finance, or any loan c refit card etc. Rather I'd hired a car, scraped a wall and had to pay. Only the solicitors (I assume and hope acting on behalf of their client) never accepted any of the payment proposals I put forward, even when supported with evidence that that is what I could afford. I even offered a 50% lump sum with the balance paid over the following 3 months but this wasn't accepted. Anyway, this went on for months, where they would not accept any of my proposals nor give me any way I could begin to make payment, which I'd also requested. In the end - and I'm aware this is to my own detriment - I snapped and said that if they're not going to accept any of my proposals they might as well take it further as the court will set a payment which I knew would be in the range iof what I first offered (it was). Which they did with no further word to me, and now I have the CCJ.



As this is not due to all off until November 2021, is it worth putting a notice of correction on my file to say that this doesn't relate to a finance agreement and that its not a case of won't pay but that I wasn't allowed?



Thanks



Amy

Posted: Tue Mar 07, 2017 1:55 am
by xXCcsc918Xx
Sorry for any errors in grammar and spelling - typing on iPhone!

Posted: Tue Mar 07, 2017 1:17 pm
by coreball14
It is awful this has happened to you, especially as you were willling to pay. You could add a notice of correction to your credit report but in reality it won't make much difference to the process of applying for a mortgage. Banks are not really concerned with the cause of the judgement, I'm afraid.



It looks like you intend to apply for a mortgage before the judgement comes off your credit report. I would have thought at that time that the jusdgemnt being so old means you will have access to some mortgage lenders but not all of them. It might be best to have repaid the judgement before you intend to apply for a mortgage, although not neccessary.

Posted: Wed Mar 08, 2017 4:26 am
by aurignacian
I would avoid putting a notice of correction on your report as it could cause more harm than good.



The fact the CCJ wasn't related to a traditional debt isn't necessarily relevant as the principle is the same.



The best thing is to let your broker know the details and let them manage that with a lender.

Posted: Wed Mar 08, 2017 1:28 pm
by convergent
3 years in advance! I think this is the most prepared I have ever seen.



Forget the notice of correction, they do more harm than good. IF a lender is interested in it, they will ask about it. But sometimes defaults/CCJs will just go through and be automatically accepted where as a notic of correction will always result in the application getting kicked out for manual underwriting.