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DIP got, but now a creditor reappeared on files
5 Posts
29/06/2021 - 11:10 am

Hi, wonder if anyone can help.

we have a 15% deposit DIP with Kensington. House sold and on a hunt for a new one.
we Are in a DMP ( which we can clear with house sale) and all defaults 3 yrs old.
but just recently a debt collector company have now decided to report our account to the credit references they’ve had it since 2017 and haven’t been reporting.
I don’t know what date they are going to put the default down with but i think it may be 2019 as reduced payments were made back then. Im devastated as the original creditor didn’t seem to of defaulted me so it’s up to the debt company to make the decision. This will then affect the Kensington DIP
the debt company has said if we pay the balance off they won’t report it, but as it’s in the DMP will
Kensington not like it being paid off?

157 Posts
29/06/2021 - 11:23 am

Hi there,

It is difficult to give a very specific opinion without having all of the absolute details to hand. The date of the default has to reflect the date you “defaulted” and you can complain to the company (and follow up to ICO if the data is recorded inaccurately)

Most lenders (including Kensington) would certainly want to see satisfactory conduct of your DMP, although if the creditor did not form part of this then they did not and it will no doubt be reported separately.

I am unsure if you are being told the entire truth with regards to the assertion that repaying the debt will mean it will not show, as that is not standard practice.

Stay close to your credit file across all 3 main agencies and ensure your broker is supporting you with regards to lender suitability. Kensington are a reputable lender but they are very clear on what they will accept and wont accept with regards to criteria.

Good luck

5 Posts
29/06/2021 - 11:23 am

Thanks for the reply, the debt is part of the DMP, I’m just worried if I pay it off it goes against me as I’m not paying the other creditors too, even tho there’s less creditors and a lesser balance.

it definitely says they won’t report if I pay it off, seems a tactic to make me pay maybe.

157 Posts
29/06/2021 - 11:24 am

Certainly sounds like a tactic, assuming you are using a firm such as Stepchange I would also communicate with them.

Good luck

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