defaulting??

debie150403

Hi

I didnt find work after graduationg as soon as i hoped and struggled o keep the payments up on my credit cards. I went to the citezans advice bureua who wrote to the creditors and negoiated a new lower minimum payment for me which i have been paying ever since. How is likely to have affected my credit rating??

Many thanks
Debxx

chanz4

it will trash it for the next 6 years

thriftymomma

You are most likely on an "Arrangement To Pay". This will stop you getting credit whilst it appears on your file. All may not be lost for the future though. Stick with it.

paulmcerlean

sign up to credit expert and take a look for yourself - it is free for 30 days. taking control will only help you.

stella2009

thriftymomma wrote: »

You are most likely on an "Arrangement To Pay". This will stop you getting credit whilst it appears on your file. All may not be lost for the future though. Stick with it.

I was under the impression that the 'Arrangement To Pay' marker will stay on there for some time. It will show a 'Special Instruction Start Date' and 'Special Instruction End Date'.

I also thought this was just as bad as a default.

Anyone comment further???

nomoneytoday

It won't do your credit record much good, but sounds inevitable, and better than some of the alternatives.