Rebuilding Your Credit

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Valued Contributor
fishbjc
Posts: 2,693
Registered: ‎11-30-2007

? about DMP

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‎10-23-2012 10:25 AM

If one is involved in a dmp, and decides to discontinue it early, does the bureau status go from MANAGED BY DMP back to being managed by consumer?  Just wondering....

EOS CCA, COX COMMUNICATIONS, MEDICAL, CURVES, CALVARY, GAS AND ELECTRIC COLLECTIONS....GONE

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Mega Contributor
RobertEG
Posts: 14,597
Registered: ‎03-19-2007

Re: ? about DMP

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‎10-23-2012 12:46 PM

It's not automatic, as the CRA has no way of determining such a status. 

It would require the party who reported that information to update their reporting. 

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Super Contributor
marty56
Posts: 5,660
Registered: ‎10-06-2007

Re: ? about DMP

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‎10-28-2012 08:56 AM

IMHO no.  My reason is that long after I finished DMP, the comment about being in one is still on my CR.  Not to worry though since as far as I know it has not impacted my ability to get new credit.

06/15/2012 FICO: EQ: 798 TU:785
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Shogun
Posts: 7,372
Registered: ‎04-15-2011

Re: ? about DMP

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‎10-28-2012 09:09 AM

Are you in a better situation where you no longer need the DMP?   If so then it's time to get serious and pay those debts off.  I was in your situation, but my DMP program absolutely crashed my credit.  It wasn't till I got out from under them that I was able to actually get some stuff cleaned up.

Starting Score: 504

Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
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