Reply
Senior Contributor
fishbjc
Posts: 3,377
Registered: ‎11-30-2007
0

? about DMP

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....

Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: ? about DMP

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. 

Super Contributor
marty56
Posts: 5,679
Registered: ‎10-06-2007
0

Re: ? about DMP

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.

09/12/2013 FICO: EQ: 772 EX:813 TU:752
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: ? about DMP

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

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+