Jump to content

 

BankFodder BankFodder


minimal-c

"DEFAULT" or "ARRANGEMENT TO PAY" which is better

style="text-align:center;"> Please note that this topic has not had any new posts for the last 1802 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Hi everyone

 

I have a dilema I could use some advice with.

 

I challenged a Default with QuickQuid for a previous PDL which was Defaulted in 2012.

 

My argument was that they had failed to act responsibly by preventing me from setting up a payment plan until after the account was sold and a Default had been filed.

 

 

Had they agreed upon a repayment plan the account would have been settled within a couple of months without any Default being registered or the account being sold on.

 

Ultimately my complaint was escalated to the FOS who, in agreement with QuickQuid, have agreed the best course of action would be to set up a repayment plan,

remove the Default from my Credit File and update it to "Arrangement To Pay".

 

 

Although I am more than happy to see the Default gone and clear off the balance my concern is how much negative impact the "AP' status with have on my credit file.

 

If i was able to clear the balance after 6 months and close the account it would still show the "AP" status for a further 6 years, however, the Default will be gone in 3 years.

 

How detrimental an affect will the "AP" status have on my file? Would it be worth while accepting this agreement or better waiting out the Default?

 

Thanks Guys

Share this post


Link to post
Share on other sites

well I had a similar situation a few years ago , all my defaults have now dropped off but because I was makred a AP on one it is still affecting my credit score 4 years after I had paid it

Share this post


Link to post
Share on other sites

thats my worry.

 

I think the best way would be to present them with this concern, without agreeing to the proposal, and see if a better solution can be agreed upon.

 

If not i will just wait out the Default

Share this post


Link to post
Share on other sites

Hi and welcome to CAG

 

This is a difficult choice to make but here's my 2p

 

A default shows to potential creditors that you are a higher risk than others.

 

An Arrangement to Pay shows potential creditors that while you are in financial difficulties, you are trying to sort them out.

 

I think the bigger problem is that your file will show that you had a payday loan and that puts off creditors a damn site faster than any default or ArP


If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

Share this post


Link to post
Share on other sites

Thanks SilverFox, Yes defo.

 

And as it stands the fastest way to get the PDL of my credit file is to wait out the default.

 

I am going to try an renegotiate a better deal with them, if possible.

 

I have been quite fortunate so far and had 4 Defaults removed from my Credit File, through sheer perseverance.

 

I have this and another to get the full house, so to speak.

 

Hopefully perseverance continues to pay off

Share this post


Link to post
Share on other sites

ask for both

 

a defaulted date in the debt summary

 

that way the account will vanish on its 6th birthday

and the monthly AP marker too

 

sad thing with AP without a default is its there for upto 12yrs and can be seen in the history

 

that can holds the PDL record there for 12yrs too

[


please don't hit Quote...just type we know what we said earlier..

 

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...