Debt, no idea where to start

blisteringblue

Bedsit_Bob wrote: »

I think you will find that's wrong.

A default falls off your file after 6 years, whether the debt has been cleared or not.

No I said great if they default on day 1, but with AP markers that simply doesn't happen. I have 2 creditors that have already written to say they will not default me. They won't charge me interest if I maintain my current levels during this period but they will not default me.

Yes, 6 years after the default, but if there is no default it's 6 years from final payment.

ConsumerWizkid wrote: »

DMPs aren’t themselves registered on credit reports, but lenders can add a marker to your credit agreements to show you’re repaying your debts using a DMP.e

Very true, I'm 8 months in to my DMP and my credit file shows a mixture of

AP markers, Defaults and DM markers. Now I bet you can all guess what DM stands for

ConsumerWizkid

AP & DM are kinda the same deal yes Bedsit Bob. However the reality to a lender is that an AP implies that the consumer took responsibility for their debt and managed it. A DM marker shows that they couldn't do that and had to get someone else to manage their finances for them.

lizzy23

ConsumerWizkid wrote: »

AP & DM are kinda the same deal yes Bedsit Bob. However the reality to a lender is that an AP implies that the consumer took responsibility for their debt and managed it. A DM marker shows that they couldn't do that and had to get someone else to manage their finances for them.

well i'm on a DMP with Stepchange and my credit file shows arrangement to pay markers , or default none say DMP

ConsumerWizkid

That's great! :j

Former_MSE_Andrea

Hi! Look at our MSE Debt Help guide - hopefully that'll help