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    • risko
    • By risko 6th Oct 17, 10:55 PM
    • 11Posts
    • 0Thanks
    risko
    Non-Defaulted Accounts on Debt Arrangement Scheme (DAS)
    • #1
    • 6th Oct 17, 10:55 PM
    Non-Defaulted Accounts on Debt Arrangement Scheme (DAS) 6th Oct 17 at 10:55 PM
    I am currently three and half years into a DAS (debt arrangement scheme) and should have enough money saved in around six months to pay it off completely (18 months early!)

    The payment plan has been paying off six different debts - an overdraft, two loans, and three credit cards

    I decided to check my credit report on Experian, and noted that four of the accounts went into default at the beginning of my DAS, as I expected.

    Two of the accounts, however, have not been defaulted but are marked "Debt Management Programme'. I have been reading that, without defaults, these accounts would stay on my credit report for another six years after being settled. One article suggested that it would be a good idea to request that these accounts are defaulted (obviously backdated to the beginning of my DAS) as this will cause them to be completely removed six years after the default date.

    Is this true? And is it even likely that the creditor will do it?

    Thanks!
Page 1
    • sourcrates
    • By sourcrates 7th Oct 17, 11:10 AM
    • 12,714 Posts
    • 12,055 Thanks
    sourcrates
    • #2
    • 7th Oct 17, 11:10 AM
    • #2
    • 7th Oct 17, 11:10 AM
    Hi,

    Yes by all means, you can write and ask the creditor to default you, and back date the default.

    If they refuse, take the matter to the FOS and/or the ICO for resolution.

    Companies do not have to default you, but it is considered unfair and detrimental to yourself, if they don't treat you in a fair manor.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • risko
    • By risko 8th Oct 17, 10:31 PM
    • 11 Posts
    • 0 Thanks
    risko
    • #3
    • 8th Oct 17, 10:31 PM
    • #3
    • 8th Oct 17, 10:31 PM
    Thanks sourcrates!

    Is it true that these debts would drop off my credit report quicker if they were defaulted than if they were flagged as 'DMP' and then settled?
    • StopIt
    • By StopIt 9th Oct 17, 9:54 AM
    • 1,449 Posts
    • 1,239 Thanks
    StopIt
    • #4
    • 9th Oct 17, 9:54 AM
    • #4
    • 9th Oct 17, 9:54 AM
    That is correct.


    A defaulted account drops off your file 6 years after the default, as that is counted as an account closure.


    An account with a DMP or more commonly an AR Arrangement to Pay flag is counted as a live account, so will show those flags for 6 years after you finish paying the account. That's why it is actually better to just get a default than the longer term damage these flags cause.
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