DMP - Default and Late Payment records on credit file

freeofdebt1977

Currently I am in a DMP with Stepchange they have been fantastic. I entered the DMP in January 2018 and have paid off almost 10k up to now. Most of my creditors defaulted my agreements with them in early 2018 but one is still marking my credit file with a Late Payment entry. Should I ask them to default or just leave it? I won't be debt free under my present circumstances until 2023 when the DMP will be complete. The DMP has given my life back and taken the horrific financial stress away to a large extent. I just want to be in a position when I come out of the DMP that my credit file will be in a better situation not long after that. Any advice would be appreciated.

sourcrates

Hi,

You should write and ask them to default you in line with guidance.

If you don’t, those AP markers will be there 6 years after you settle the debt.

freeofdebt1977

Thank you for your reply, I have multiple creditors within my DMP should I ask all to back date my default to January 2018 if possible? most of them are showing as UC status. Additionally if the account has a default marker on it does it fall off my credit file after 6 years from my default or stay on until the balance is cleared? I just want to find out if it's better they all default as if they state late payment until the balance is cleared my credit file will be wrecked until 2029.

EssexHebridean

As far as I know it's the date of the default when the 6 year clock starts ticking.

freeofdebt1977

Most of my creditors defaulted my agreements with them in early 2018 but a number of them are still marking my credit file with a Late Payment entry. Should I ask them to default or just leave it? I won't be debt free under my present circumstances until 2023 when the DMP will be complete.