Debt management plan defaults

tomreds

Hi all. Does anyone know whether there is a period of time post default/arrears on the credit record where the impact becomes better? I know it takes 5/6 years to come off the record, but does the negative impact reduce at all if even 6 or 12 months have passed? Just trying to time when to submit a new application.

[Deleted User]

Every day will improve your position.

You need to assess your position as a whole so you apply for the right product with the right lender at the time.

[Deleted User]

If you're in / just out of a DMP then 6 or 12 months down the line is not really the time to be applying for major credit - a credit builder card or basic SIM only mobile contract perhaps