dmp questions... long, sorry

Jolinar

Donedoingdebt wrote:

Sorry, this is not quite correct. Your creditors will normally default your account within a month or 2 of you not paying the minimum monthly payment. So using the above example, if your DMP is 5 years then you will have just over a year left with a default on your credit file after you've finished your DMP. In my case, the defaults were from June to December 2000. So, my defaults are now starting to drop off my credit file even though my DMPs last until 2009.

That's interesting thanks for that, I've heard that some do the defaults afterwards, I certainly hope it is as you describe

Gforce_2

once again thanks for all the answers so far, I'll let my friend know. I don't know if he is going to go for a dmp though he's really worried about all the phonecalls at the beginning.