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DMP - credit repoerts
greytdog_2
Posts: 288 Forumite
I have just started (third month of) a debt management plan a the financial advisor, my question is that i have seen on a threat on here that it should not show as late payments/defaults on your credit score as it is an agreed plan with the companies involved. However, as i subscribe to experian at the moment i have viewed my credit file and it shows 2 months of defaults/late payments. Is this right? I did have a credit score of 998! and know i wont get away scotch free but am puzzled as to which of the above is correct?
0
Comments
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a DMP means that you have failed to maintain the T&Cs of the credit agreement (i.e. you are not making the minimum payments).
it is usually for the creditors to default the loans and this will show on your credit record for 6 years.
Its only an agreed plan in the sense that you have unilaterally said you can't keep to the contract T&Cs.0
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