SRA Character and Suitability (Credit Report)

[AA699]

Hi. So I have defaulted on two payments (one on a student overdraft account and one on a phone contract). It has been a couple of years and I am currently in the process of settling these two defaults. They are both on my credit report and I have a low credit score. How will this effect my chances of meeting the SRA's character and suitability?

 

[TCLA Community Assistant]

Hi. So I have defaulted on two payments (one on a student overdraft account and one on a phone contract). It has been a couple of years and I am currently in the process of settling these two defaults. They are both on my credit report and I have a low credit score. How will this affect my chances of meeting the SRA's character and suitability?

When you say two defaults, were these recovered through a debt collection system or did you just receive financial charges/fines that you then had to pay off on top of the debt (but you managed that directly with the suppliers rather than a debt collection agency)?

 

[AA699]

Hi. So I have defaulted on two payments (one on a student overdraft account and one on a phone contract). It has been a couple of years and I am currently in the process of settling these two defaults. They are both on my credit report and I have a low credit score. How will this effect my chances of meeting the SRA's character and suitability?

When you say two defaults, were these recovered through a debt collection system or did you just receive financial charges/fines that you then had to pay off on top of the debt (but you managed that directly with the suppliers rather than a debt collection agency)?

These are not being recovered through a debt collection system. I am now directly making payments to the bank and the telecom provider in instalments without any financial charges, interest or fines.

 

[TCLA Community Assistant]

These are not being recovered through a debt collection system. I am now directly making payments to the bank and the telecom provider in instalments without any financial charges, interest or fines.

Then you are fine - this is not an issue at all. There probably wouldn’t be any lawyers at all if we went off what are late payments.

 

[AA699]

Then you are fine - this is not an issue at all. There probably wouldn’t be any lawyers at all if we went off what are late payments.

Thank you so much!