DM marker as bad as an AR marker?

dazla

I have been advised by MBNA that a Debt Management marker on my credit file is just as bad as an AR marker. i.e. the DM marker will also remain on my credit file for 6 years following the settlement of the debt. Can anyone confirm if this is correct?

To give some background to this, my MBNA debt was part of my payplan debt management plan, which has been running for 3 years. Earlier this year MBNA threatened to default me because my payment to them was reduced by £2.00 a month following my yearly review with payplan. To avoid a fresh default I removed the MBNA debt from payplan and started to pay MBNA direct under a self managed debt management plan. At no time during the arrangements for this new setup did MBNA warn me that they would change the way they reported this debt with the credit reference agencies from a DM marker to an AR marker. I'm not happy about this and have made a complaint to MBNA. Someone just phoned me from MBNA and said there is no difference between a DM marker and an AR marker although I said I disagree. Can anyone advise please?

glentoran99

I cant see it would make any difference, you probably would have been better off taking the default as it will be gone from your file sooner

dazla

glentoran99 wrote: »

I cant see it would make any difference, you probably would have been better off taking the default as it will be gone from your file sooner

But MBNA have said that defaults are far worse than AR's. I do agree with that but what I want confirmed by someone independant is does a DM marker remain on file for 6 years following the date of settlement. It does make a difference if it doesn;t remain on file for 6 years.

glentoran99

dazla wrote: »

But MBNA have said that defaults are far worse than AR's. I do agree with that but what I want confirmed by someone independant is does a DM marker remain on file for 6 years following the date of settlement. It does make a difference if it doesn;t remain on file for 6 years.

Yes it will remain on your file until 6 years after settlement, A default is worse however it drops off your file 6 years after default whether debt settled or not

dazla

glentoran99 wrote: »

Yes it will remain on your file until 6 years after settlement, A default is worse however it drops off your file 6 years after default whether debt settled or not

Ah OK,thanks. The MBNA rep. told me that the default would remain for 6 years after the date of settlement

dumpyboy

What ever you do you must not believe a word mbna tell you they wanted more then was offered pro ratio after starting court proceedings I paid them more aganst the advice of debt mangement company 18 months later it fell apart as the others wanted increase and would not except mbna haveing more so in 2010 I ended the dmp a lot took settlement ones that were not defaulted went back to normal terms and conditions and now 4 years later mbna are my worse got ar markers for 16 to 20 years fos rejected the complant as I agreed to pay mbna more so be very wary of doing this

dazla

dumpyboy wrote: »

What ever you do you must not believe a word mbna tell you they wanted more then was offered pro ratio after starting court proceedings I paid them more aganst the advice of debt mangement company 18 months later it fell apart as the others wanted increase and would not except mbna haveing more so in 2010 I ended the dmp a lot took settlement ones that were not defaulted went back to normal terms and conditions and now 4 years later mbna are my worse got ar markers for 16 to 20 years fos rejected the complant as I agreed to pay mbna more so be very wary of doing this

Thanks...MBNA really are hard work, they threatened to default me when their payment was reduced through payplan by £2 a month ( I was paying them £70 a month anyway).

dumpyboy

Yes I know they think they a law on to them selfs , soon as others found mbna were getting more they got the hump I paid mbna 196 per month

glentoran99

how did they find out?

dumpyboy

When they did there 6 months reveiw or yearly of the payments made to them and others income and expenditure form and payment to credits form