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Arrangement to Pay
dichmau5
Posts: 15 Forumite
Hi,
Quick credit file Q!
My husband had issues years ago (10 years +) and set up a series of repayment arrangements with various creditors.
A couple of his debts show on his credit file as red and have AP listed. Now they are settled and from a long time ago.
Will these stay on his file for good or will they drop off? Im assuming having AP's on will affect his credit worthyness?
We are trying to arrange a remortgage and want to ensure we are in a good position before we try.
Thanks for any advice in advance.
Quick credit file Q!
My husband had issues years ago (10 years +) and set up a series of repayment arrangements with various creditors.
A couple of his debts show on his credit file as red and have AP listed. Now they are settled and from a long time ago.
Will these stay on his file for good or will they drop off? Im assuming having AP's on will affect his credit worthyness?
We are trying to arrange a remortgage and want to ensure we are in a good position before we try.
Thanks for any advice in advance.
0
Comments
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They will drop off 6 years from the settlement date if the account was never officially recorded as a default on his file.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Ok thanks for your help. That is in fact worse then that being defaulted! As at least that would have dropped off, it was more than 6 years ago.
It seems you make one step forward and 2 steps back
Do you have any idea if an AP on the credit file showing as settled stop a mortgage application?0 -
May or may not do. Depends on the mortgage company policy and how old it is. It's certainly not a good thing to have though.
Regards the default, yes it is could be seen as a bit daft that if you actually default you get a clear credit report sooner.
In fact there are quite a few threads on that issue here, where people are arguing that APs are inaccurate and unfair and a default should have been applied. Particularly in the case of people with long term DMPs etc where it is a big issue.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Ok, thanks so much for your advice. One was from 1998 and the other 2002. Both settled one in 2011 and the other 2012.
Back then he was advised to offer before a default was issued, long term this hasn't paid off!
Thank you again. x0 -
They will drop off 6 years from the settlement date if the account was never officially recorded as a default on his file.
Would this be from final payment as I had a ruling aganst me from FOS that they could report AR in red for the whole term I agreed 12 years in my case plus 6 after that the AR is still on every month0
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