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Old Oct 20th, 2017, 05:34 AM   1
WackyMumof2
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Debt Cleared and STILL Can't Win


So the fridge freezer is on it's way out and is needing to be replaced. I'm trying for this:
https://www.noelleeming.co.nz/shop/w...rod115491.html

I had a bit of a hard time about 10 years back and ended up on Welfare though no fault of my own - in fact it was on a medical. Our Welfare system SHOULD have helped with the debt as I had it prior. Finishing work was outside of my control and they refused to help with honoring the payment I was making - at the time, $35 a week. Dad did what he could until I had no choice but to let my debt go to Collections while I spent a couple of years putting what little I could on it and trying to get back on my feet. I managed to find someone a couple of years ago to pay those debts and it's costing me $42 a week - the alternative was Court and $150 a week so I can't complain and my current debt is a year out from it's final payment date (18 months at the most), no defaults, I'm paying $48 rather than the requested minimum, back at work on my feet, studying AND I'm paying it comfortably. The payment goes out each week and I don't even notice it. Weekend Sale and treat myself (we kind of need it too) and $13 a week is really, really affordable considering I was paying double that this year for my Chriscos. Win right? So WHY did it come back as declined? Turns out it was the bank loan I had paid. I'd rung for a settlement amount and paid the $986 settlement figure. It's been clear for 2 years and the system at the bank's end SHOWS that. Neither me nor the bank understand how it's shown up on the finance system. So annoyed because that screws me over for at least 5 years. I don't get it, debt free and have been so for the last 2-3 years. The requirement before I could HP goods were 12 month minimum. I've far exceeded that. Not a single debt in that time - not even $5. Good credit, bad credit, clear history, paid debt whatever, I can't win.

It's not a complete loss I guess. They are happy to process it with my mother or FIL against my name (similar to a Guarantor but not quite) but that's just more pissing around. My mother is a 3 hour drive away so it means pissing around with a phone call. She wants to buy me a house but can't afford to - she feels bad in general because she's got no spare cash to get me something nice but I'm an adult and I don't want her to spend her money on me. I'm going to talk to her tomorrow though. She wants to help in some way but I REFUSE to let her buy me anything. If she is happy to do this (there is no risk for her) then I'll be over the moon and it helps out me. There will probably be the occasional Public Holiday where a payment fails process and all that will mean is a phone call from the company just to let me to process it though - which doesn't worry me. Argh, just frustrated. TRYING to get back on my feet and start sorting a credit history again for my Real Estate and there seem to be more hurdles than anything.



 
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Old Oct 20th, 2017, 10:58 AM   2
Wobbles
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I'm not sure about over on NZ but here in the UK it's 6 years before it's clear on your credit file and even if you pay off those debts it still shows and you are a risk.

I had the same back in 2008 when I got made redundant and heavy pregnant. Through REALLY bad advice I let it go to collection to get a better payment plan (BS) but it screwed me over until after the 6 year period!



 
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Old Oct 20th, 2017, 17:47 PM   3
WackyMumof2
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Quote:
Originally Posted by Wobbles View Post
I'm not sure about over on NZ but here in the UK it's 6 months before it's clear on your credit file and even if you pay off those debts it still shows and you are a risk.

I had the same back in 2008 when I got made redundant and heavy pregnant. Through REALLY bad advice I let it go to collection to get a better payment plan (BS) but it screwed me over until after the 6 year period!
I think for a Consolation Loan minimum period is 12 months. I don't really know as there was only one company that were willing to take a chance (it was only $4500). The downfall to that is 30% interest per annum but hey, it's paid. The problem is they aren't willing to NOT, they need another name against me for security. Which I guess is fair enough. Letting it go to collection wasn't done lightly. Ringing Mum later so fingers crossed!!



 
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Old Oct 21st, 2017, 15:36 PM   4
Zephram
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The problem is that it went to debt collections. I have no experience of this myself, but Im in NZ too, and have heard horror stories about debt collections and never being able to escape it. Have you tried calling the debt collection agency and getting it taken off their books? 10 years is definitely too long for it to be showing up.



 
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Old Oct 22nd, 2017, 04:13 AM   5
WackyMumof2
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Originally Posted by Zephram View Post
The problem is that it went to debt collections. I have no experience of this myself, but Im in NZ too, and have heard horror stories about debt collections and never being able to escape it. Have you tried calling the debt collection agency and getting it taken off their books? 10 years is definitely too long for it to be showing up.
That's the funny thing about it. They are showing up on the system (Baycorp and Westpac) that they were paid in full. Last time I had this problem I rung Baycorp and they dropped it as there was no reason for it to be there and were surprised it was still showing up - so that's wiped off the system. Pretty sure that was the Telecom bill I got fed up with disputing. I think Westpac work differently though so I actually have to go into the branch and get a letter stating that it's paid and get those details. But the one pissing me off I can't do anything about is GE. I think I only had $4500 in debt with collected Interest which I was pretty surprised about! I'll ring HQ for GE on Tuesday and see if they can remove that. They said to try again in a year to give it more time to 'mature'. Problem is, my fridge shit itself today didn't it? So given the nature of the situation and it actually being a pretty important bit of household appliance, hubby is going to do it. Still, I'll pay for it and I will try and get my name cleared anyhow. I need to get my credit re-established or this Certificate in Real Estate counts for nothing if they won't issue me with a licence.



 
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Old Oct 24th, 2017, 05:10 AM   6
Rhi_Rhi1
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It’s probably slightly different there but I know in uk once you screw up your credit score you’ve screwed it long term. It’s takes 6/7 years for any “major” issues to disappear. We have more than doubled our income in the last five years, but previously we were living hand to mouth and as such fell into arrears and have a few defaults against us. Our debts only totalled around 6k which are all now clear! However we can’t get a mortgage and won’t be able to for years. It’s a very depressing situation to be in. I understand the need but i wish it wasn’t so “computer says no” it would be very obvious to a human being that we are so very far away financially from the people that ran up the debt. But there ya go !



 
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Old Oct 24th, 2017, 05:14 AM   7
Wobbles
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Absolutely everything here goes against you - Even a 2.99 bill. I set up a DD on a credit account and it was due 2.99, I didn't realise it wasn't set up in time for payment and it red marked my file for alate payment. Minor but anything on there red can go against you with lenders. It's a pee take!



 
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Old Oct 24th, 2017, 07:13 AM   8
Rhi_Rhi1
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Yeah I agree ! Companies are also very quick to throw defaults at you! I had to have a default removed recently that was given to me by a car insurance company that I didn’t even have insurance with, I cancelled it at renewal and they just kept sending me threatening letters I must have cancelled it three times by letter by phone and finally fixed it by moaning on their Facebook page ! Hahah. Then I had to get the default removed .... “we can’t remove it “ this went on for a while.

one time I rang up to tell virgin media I was moving to sky and this was their notice. As soon as I got off the phone I was disconnected! They had immediately turned everything off... EVERYTHING. When I rang back to ask wtf. I was passed from pillar to post (language barrier didn’t help) until I was passed to debt department where they told me if I paid my bill I would be reconnected.... when I finally managed to convince them it was their error they still made me wait 48 hours to be reconnected. Then the debt letters started arriving for a debt I never had... very confusing.
These computer systems have a lot to answer for! Ughhh



 
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Old Oct 24th, 2017, 07:51 AM   9
Wobbles
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Oh we should have a ranting thread for this stuff my list is anything from BT (a house I didn't live in?) to 2.99 on VERY which effected me getting the best deal on a house ... 2 beeping 99. Application on table, house with an accepted offer I had no time to fight its removal... the offer I got was pretty close but defo not the point.



 
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Old Oct 24th, 2017, 07:59 AM   10
Rhi_Rhi1
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Oh ouch ! That really stings. Lucky you didn’t miss out on the house altogether! I’m dreading applying for mortgages, probably going to have to wait until the defaults drop off... I’ll be like 35! And our eldest will be 15 years old. Long time to stay squeezed in a three bed. Oh to have a time machine ! Lol

my local council sent me a court summons for 55p haha.



 
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