Arrangement to Pay on credit file with defaults

ca7csu

Sorry for posting another thread.
I have just checked my credit file, and one of the creditors I thought I had a default with is actually an Arrangement to Pay.
The Defaults are nearing 6 years, what happens with the Arrangement to Pay, and what is the best way to deal with it to get a clean slate?

chanz4

ap's stay on for 6 years from settled if still active and no default

ca7csu

So is that still a negative mark on my credit score?
Would i be best off paying the actual card off as best i can now?

chanz4

ap's are classed the same pretty much as defaults, you couldnt keep to the payments

endora

ca7csu wrote: »

So is that still a negative mark on my credit score?
Would i be best off paying the actual card off as best i can now?

Yes, it is a negative mark and no, it won't make any difference if you pay it off or not at this point, not unless you offered them an F&F conditional on default removal and they accepted it, great care would have to be taken when doing this to ensure that
a) they don't come back demanding the rest of the balance in the future and
b) the default is actually removed from your credit file.

If you defaulted some years ago it may be worth just waiting for it to drop off after 6 years, which will be the case regardless of how much you pay.

ca7csu

endora wrote: »

If you defaulted some years ago it may be worth just waiting for it to drop off after 6 years, which will be the case regardless of how much you pay.

Thanks for that
The Agreement to pay started in October 2006!
I have a default from the same time too - which should be dropping off in Oct 2012.
My concern was that the the AP would remain on.