Monzo arrangement

Snafflepup

Monzo came to me a few days ago before I had really read advice on here as I was struggling in my overdraft for a while. I have a flex credit card with them as well, which ive never missed. Now they approached me and said would I like to make an arrangement in which they will freeze interest and repayments for 6 months. Now I am concerned they are adding an ap marker,even though I didnt understand that. I assumed they were just giving me a break.now what do I do? I have now planned after getting advice on here that i have to default my other credit accounts and then dmp but will this ap marker make things worse? They have said they will default my account in 6 months if I cannot make a payment. Its £558 in total and one fo the smallest debts I have.. i just didnt know the fall out

ManyWays

If you are worried about an AP marker then you should ask Monzo, I don't think us guessing will help and the chance of someone in your exact situation (small amounts, Monzo, flex, overdraft) replying is very small.

But if you know/want the other accounts to default, isn't the simple answer here to just pay nothing to monzo and let them default after 6 months? If that happens, any previous AP markers don't matter. 

Snafflepup

So if it is an ap marker will any if those then be replaced by default markers. Thank you. 

ManyWays

It doesn't replace the earlier AP markers but every month a marker is added for that month - eg paid, AP, default etc Once a default is added, the 6 years until it drops off starts from there