What happens after six years from default?

[Johnp]

Re: What happens after six years from default?

cheers NID - the only agreement we had was to pay all our creditors £5 a month via CCCS, which is an informal agreement. Thanks for your post will see what they say then start threatening them with the ICO!

[Johnp]

Re: What happens after six years from default?

Forgot to mention that the f&f settlement offer is dependant on them cleaning the credit file up otherwise ill only pay them £5 a month

[Never-In-Doubt]

Re: What happens after six years from default?

cheers NID - the only agreement we had was to pay all our creditors £5 a month via CCCS, which is an informal agreement. Thanks for your post will see what they say then start threatening them with the ICO!

Ermmm if you had a DMP then they can and will add AP markers, a DMP is an informal arrangement with them but to the lender it is a formal payment plan which authorises them to accept lower payments thus affecting your credit markers.

Did you complete the DMP for so many months or did it never start?

By the way, F&F with default removal is rare - I doubt you'll get that lucky tbh mate - good luck though

[Johnp]

Re: What happens after six years from default?

Hoya niddy the payment plan has remained in place now for a couple of years. Always thought it was an informal agreement. Not sure why we weren't just defaulted but either way I will update my post with the outcome. I've given them 14 days to accept the offer

[cardiac arrest]

Re: What happens after six years from default?

it seems some banks argue they are unable to offer reduced payments unless they issue a Default Notice, while other Banks happily accept reduced payments and only issue the Default Notice when they sell the account on ...often years later.

[Johnp]

Re: What happens after six years from default?

Thanks cardiac. The system favours those who don't pay over those that struggle on and try to pay something. Will keep you all updated. Thanks!