Default on Credit File rather than AP or DM...

svenls

Evening All,
Although I am hardly a prolific poster, I have found that being a regular observer of the comings and goings on here has helped me with my through the first few months of my DMP. I count my blessing about how relatively painless my experience has been.

I am having a few issues with Lloyds TSB with whom I have just had a 6 month review where it was agreed to keep the agreement as it was (no charges and 0% - told you it had been painless!!). However, just seen my statement online and there are charges on there for both... another lunch hour on the phone tomorrow I guess...

I have just read on another thread about Defaults on your credit file being better than an AR (Arrangement to Pay) or DM (Debt Management Programme) as the AR or DM will stay on for 6 years from the date of the final payment, where as the Default clock starts immediately.

I have 1 Default and 5 AR/DM. Is it possible to request these accounts be defaulted to start the 6 year clock ticking now??

I will probably write to my creditors anyway, but wondered if anyone had done this and is it actually a good idea or am I missing something??

Credit rating is shot to pieces already, but would like to try for a mortgage sometime in the future...

cif85

I have asked Natwest to do something similar and Default me instead of an AP marker, as otherwise it would be on my credit file for 9 years!! I sent them off a request by letter, detailing why I thought it was fairer to Default me.

They replied only today saying they will amend my credit records. As far as I'm concerned, my record is shot to pieces anyway with other defaults - I just want it clean as fast as possible so I can finally get myself a mortgage!

As far as I've read on these boards, an AP marker is almost as bad as a default, but as you say, stays on your file for much longer. It's supposed to be a temporary arrangement (I think the ICO say 6 months) so in theory it shouldn't matter - but in practice, it does, as AP markers are left on far too long.

svenls

cif85 wrote: »

I have asked Natwest to do something similar and Default me instead of an AP marker, as otherwise it would be on my credit file for 9 years!! I sent them off a request by letter, detailing why I thought it was fairer to Default me.

They replied only today saying they will amend my credit records. As far as I'm concerned, my record is shot to pieces anyway with other defaults - I just want it clean as fast as possible so I can finally get myself a mortgage!

As far as I've read on these boards, an AP marker is almost as bad as a default, but as you say, stays on your file for much longer. It's supposed to be a temporary arrangement (I think the ICO say 6 months) so in theory it shouldn't matter - but in practice, it does, as AP markers are left on far too long.

Thanks for the reply, I will be drafting my letters this evening and get them in the post tomorrow... wish I had done it 8 months ago when Capital One defaulted as soon as my DMP was set up, hey ho...

I suppose a default is a default, having 5 is no worse than having one... or is it??