Debt arrangement scheme credit reporting

Yfc_2

Hi does anyone know if a debt arrangement scheme DAS should still show after 6 years from start date?

sourcrates

Hi,

The defaults associated with a DAS should be gone after six years.

John1429

My experience has been that some credit card companies have logged on my credit file paying on time and others cards/loans defaulted. I would have preferred defaulted for all as they would disappear after 6 years. Also the DAS has only this month started to appear on my credit file (use Clearscore) and this is 30 months since it started.


In answer to your question it seems the DAS remains on for a few years after completion.


The following is taken from a DAS website:
'What happens to a credit rating when your DPP is complete?

Being on A Debt Arrangement Scheme will stay on your credit record for the duration of the DPP term and a few years. For a while after you make your final payment getting credit may be hard. This could be a problem if you need to obtain credit for a mortgage, and you would have to take steps to start rebuilding your credit rating before you started applying for mortgages. You must be prepared that it could take as long as three years or more for you to return to a good level where lenders will consider offering you credit again.'