Welcome to the forum VeryWorried.

We're happy to answer DAS questions.

There is never a clear answer to this question I'm afraid. It all depends upon the attitude taken by an individual employer.

The Debt Arrangement Scheme, unlike trust deeds or bankruptcy, isn't an insolvency. It's therefore not likely to be viewed as seriously.

We've heard from few people over the years that they've been turned down for a position because of their credit status. However it perhaps is a more relevant factor within the financial services sector than others.

Thanks for the response.

I was wondering if maybe I should dispute the defaults on my credit file as they indicate that I have walked away from my debt and could therefore be misleading. One of my debtors has me noted as AP for Agreed Payment, rather than default. Do you think that I should ask my debtors to all do this? Or would it make no difference anyway?

Anything that goes on your credit file stays there for 6 years. I don't think you can dispute the default notices as you will almost certainly be technically in default.

Again every employer will have their own view. However, if you tell an informed potential employer that you have a DAS they will know your debts are under control.

Risk conscious employers are likely to be more concerned that an employee could be vulnerable if their financial situation was clearly out of control.

Thanks for your help.

So will the defaults drop off 6 years after they are first registered; or 6 years after I make my final payment, in which case I would still be paying off the debt for another 4 years after the default disappears.

Thanks

Hi VeryWorried.

I think they drop off after six years, but the truth of it is that none of us are credit record/rating experts.