Credit file markers

Sparks_47

Hi all,

I'm seeking some advice on credit file markers.

I have been in a DMP for several years, (approx 6-7yrs) and now have just under 12k to pay off across 5 creditors.
The question I have is, if I was now to make a full and final settlement offer and the offers were accepted would a partial settle Vs full payment leave a marker that would make obtaining credit harder to obtain in the future.

Many thanks in advance.
M

nottoolate

not if already defaulted.

many here will try to brow beat you morally by saying a bank you did a partial settlement would never give you credit again. may or not be true bust most would rather be debt free sooner and avoid their previous creditors anyway.

B0B

If defaulted they will vanish from your file after 6 years. So the settlement type wont make much difference.

Westminster

You do need to check your CRA files to see who has or hasn't defaulted you as its not a guarantee that a creditor will default you and there seems to be a trend with some lenders to simply mark you as AP which substantially lengthens the pain as without a default, all that adverse information will be visible for 6 years AFTER you settle - not from when you start the DMP.