Anyone been on a DMP and had no defaults???

LauraLou1985

Morning all!

Just out of interest, has anyone been on a DMP and NOT had any defaults put on their credit file???

podperson

Not that I've heard of I'm afraid By going on a dmp it pretty much implies that you are unable to make the required payments which unfortunately means that your creditors can default the account. Some may be nicer then others but if you have a few creditors (as most people tend to do) then it is highly unlikely that at least one of them won't default you.

Sunnylooloo

Hi

I am doing my own DMP and everyone apart funnily enough from Egg have registered a default or late payment on my credit file

Moglet

My partner has managed to avoid defaults from barclaycard but not the others.

LauraLou1985

I've pretty much accepted that the fact I'm on a DMP means I'll get defaults, I was just curious in seeing if anyone had avoided them.

My debts should (hopefully) be paid off in just under three years, would it be advisable to wait a few years after that to start rebuilding my credit rating by using MSE's tips or should I attempt to start rebuilding pretty much straight after the debts are paid off? I'm not planning on getting any more loans or credit cards EVER again but it would be nice to know that my credit rating isn't going to be permanently ruined!

mummytofour

I am dreaming of being debt free and will start re-building my credit asap. I am considering do it now with my cash plus pre-pay credit card they have a credit builder option but I am not sure if this will upset the CCCS who I have my DMP with.

roomtobreathe

Just started my DMP and 2/9 so far refusals to agree with the DMP and saying that it's likely to go to default.

Jinx

All defaulted me.....heyho, it appears to be the 'cost' of a DMP... In saying that by the time Im debt free theyll all be gone anyway..!!

LauraLou, Ive had a credit card for the last 2 years, its one of those extortionate interest ones, I just use it for the additional insurance on expensive items and pay it in full always. I dont know if it helps build my credit record, I also have a catalogue which is clear. Lesson learned the hard way re 'oh Ill pay it later' lol but it does mean records are not permanently trashed