Is an 'AP' marker more damaging than a 'Default'


I entered a DMP in December 2021.
Lender one has agreed to backdate by default to 31/Dec/2021 as a gesture of goodwill.

Lender two I still have a complaint open with as they didn't default me until January 2023. My question is what is the best outcome I should ask for?

Backdate the default to when I started the DMP under the old ICO guidelines?

OR ask for AP to be recorded as technically lender two accepted the payment arrangement which I kept to. For reference payment arrangement would be recorded Jan 2022 to March 2023 where I paid the outstanding balance?

Many thanks


  • MorningcoffeeIV
    MorningcoffeeIV Posts: 1,925
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    Backdate the default.

    An AP is just a polite way of saying default, but has a longer impact.
  • Nasqueron
    Nasqueron Posts: 8,395
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    The guidance which is not a hard rule, is default after 3 contractually agreed payments being missed but lenders don't have to do it, though a polite ask may well sort it. Do note going in guns blazing (not saying you did, just as a reference for other people) is not likely to help as they are under no obligation to back date it.

    Agreed with MorningcoffeeIV though, an early default is better as it will drop off sooner, particularly as you had a DMP
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