My PIP says credit file cleared 3 months after paying lump sum DSA?

zxcvbnm

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Met my PIP for first tine today to discuss a potential lump sum DSA. My PIP says credit file is fully repaired 3 months after lump sum DSA is paid, assuming offer is accepted by creditors.

Is this correct?

This is news to me and I find it really surprising. It doesn't really add up to me.

My understanding was that anything on your credit file over the last 6 years is viewable. Therefore I would fully expect the fact that I have entered a DSA (albeit lump sum) to be recorded there and fully viewable for up to 6 years.

I'm just looking for a 2nd opinion from anyone out there in the know.

Depending on whether this is or is not correct would play a large part in me deciding on whether to pursue lump sum DSA or bankruptcy as my credit rating impacts job prospects as I work on finance.
 
Your credit record is only "repaired" in the sense that your debts would be cleared upon the completion of the DSA. However, your previous credit history would still be viewable for 5 years.

Jim Stafford
 
Thanks Jim. Ya. That's what I thought also. Maybe I misunderstood PIP. But didn't think I did. Will need to raise with him again.
 
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