We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Arrangement to Pay on credit file with defaults
ca7csu
Posts: 30 Forumite
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?
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?
0
Comments
-
ap's stay on for 6 years from settled if still active and no defaultDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
-
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?0 -
ap's are classed the same pretty much as defaults, you couldnt keep to the paymentsDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
-
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 thatSo 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?
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.0 -
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.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards