life after DAS any experiences?

Minnie82

So, that light at the end of the tunnel is getting brighter every day. 4 payments left to our DAS and we will be officially done.

I've been googling how to repair our credit file after DAS but there isn't a massive amount of info about the scheme. I believe we will be removed from the DAS register which means it will no longer be reported to CR agencies, our defaults start to fall off in December and will all (apart from 1 I've not long been given by Vodafone even though we were disputing the account and I was waiting on contact from them, it's now around 8 months old and settled) be gone by March.

What happens now? after the last default falls off will it still be visible that we had the DAS? I'm keen to repair our files as much as possible not for any reason other than mortgage in a couple of years (we have one now but moving I mean).

Has anyone out there been through this? It feels very odd.

sourcrates

DAS will be on the register for 3 months I believe, and on your credit file for 6 years in total.

Any defaults will be gone after 6 years also.
After that it will be like it never existed

Minnie82

Thank you,

Last payment is September and it'll have been 6 years in December since we started, can't actually believe it. I'm assuming the repairs to cr file won't be instant but we do have good payment history to our existing mortgage, mobiles and gas/electric so hopefully those will count for something.

misspuddleduck

Hi Minnie82
My DAS was completed in January of this year, my credit file shows as 'clean' and a score of 865. The relief of making that last payment is incredible! I have to say I think the DAS scheme is excellent, apart from the protection it offers it taught me a lot about managing money and discipline. Never again would I want to experience that horrendous feeling of dread you get when you realise how much debt you have.

Minnie82

Thank you so much for commenting. It's a relief to know it's all gone well for you so quickly. I know ours wont be that much better until the defaults come off but that starts at the end of December and should all be away by March which is super exciting. I agree it's a great scheme and we've learned loads and grown up a bit too all whilst paying back every penny and having a life still!

How long was yours over? Were your defaults gone by the time it ended?

misspuddleduck

Originally 10 years but due to illness and change of job it was extended for a further two years. Yes all defaults gone by the time I completed. One creditor showed as 'late payment', I requested this was removed and shown as 'settled' which they did.

I still can't believe it's all over the sense of relief will stay with me for a long time. I never have the urge to buy things I don't need and always go by Martins mantas... do I need it, can I afford it etc.

I now have an Aqua reward card, only for the purpose of building a good credit history. Direct debit set up to pay in full every month and only use it for a couple of small food shops each month.

RecentPost

Cant leave without passing on my congratulations! Well done

db2016

just wondering - what is DAS?



is it a DMP / debt solution? never heard of it

sourcrates

db2016 wrote: »

just wondering - what is DAS?

is it a DMP / debt solution? never heard of it

Debt Arrangement Scheme - only available in Scotland.


Its similar to a Debt Management Plan south of the border, but is a regulated solution that provides legal protection, and the mandatory freezing of interest.


Something similar is currently been discussed by parliament, that is likley to be implemented in the rest of the UK in the near future.

Minnie82

misspuddleduck wrote: »

Originally 10 years but due to illness and change of job it was extended for a further two years. Yes all defaults gone by the time I completed. One creditor showed as 'late payment', I requested this was removed and shown as 'settled' which they did.

I still can't believe it's all over the sense of relief will stay with me for a long time. I never have the urge to buy things I don't need and always go by Martins mantas... do I need it, can I afford it etc.

I now have an Aqua reward card, only for the purpose of building a good credit history. Direct debit set up to pay in full every month and only use it for a couple of small food shops each month.

Thats exactly what we plan to do, one cc to rebuild history and set up the full payment dd. So good to hear a positive story, the DAS seems to still not be a hugely understood scheme.