Im trying to get a mortgage.
In 2003 I was unemployed and was unable to pay my loan that i had for my car through tesco. I explained my situation- they amended my payment plan and because i missed 3 payments whilst it was being sorted out they defaulted my credit file.
At the time i didnt realise the seriousness of this as they assured me it was ok so long as i could repay a small amount each month until i got a job. I insisted i would pay as much as i could and when i got a job again i settled the arrears and payments were kept up to date.
When i checked my credit file the follwing month my loan was defaulted with a owed balance of 5003 which included all the interest and it said was on a payment plan.
They didnt inform me of this. So for the next 3 months i saved as much as i could and with the help of everyone i settled the loan in full including all the interest for the duration of the laon (that annoyed me as they didnt credit anything back)
Im now told that this is on my credit file for the next 6 years from when i settled it.
I cant get the slightest bit of credit and i have no credit at all in my name now. I have managed to save enough money to go for a mortgage with my partner but because of my default on my credit file everyone refuses me and i dont know what to do now. Im at despair with the whole situation.
Im good with my money and have been told i have an excellent credit rating apart from the default. Had i known that they were going to default my credit file for 6 years i would have come up with the money someway or another to avoid this.
Is there anything i can do? or am i just written of for a year.
The only people who were willing to help was tml (the mortgage lender) and they want a 2k fee for even applying but guarantee i can get a mortgage.
Thanks for any help you can give or any advice on a lender.
Marc