What to expect when you complete your DPP
Your DPP comes to an end when you've completed all the agreed payments in the plan, or you make a lump sum payment equivalent to the outstanding amount due.
All your creditors will write to you to confirm that your DPP is coming to an end shortly before the scheduled date for completion. Your details will be removed from the DAS register and the creditors will be informed that debts included in the DPP are repaid.
If you're paying through your wages, the DAS administrator will let your employer know that the DPP is complete, so that payments stop. You're now no longer liable for any debts included in the DPP, as well as any interest or changes which would have accrued after the start date.
Credit referencing agencies and DPPs
When credit referencing agencies (CRAS) create your credit file, they're essentially building a picture of how you behave financially. Banks and credit card companies can then decide whether to give you credit based on their information.
Get in touch with a credit rating agency to see what your credit score is. There are three main ones in the UK:
You can get a one-off credit report from each of the CRAs online or by post for as little as £2. Once you've received the reports check all of the details and compare them. These should show you your credit history for the last six years.
Understanding your credit file
The next thing you should do is check your credit file. Each agency provides guidance on how to read your report:
Checking your credit file
Once you're comfortable reading your report, check the following:
- All debts included in your DPP should be listed as starting on or before the start date for your DPP
- Make sure that all the debts included are now showing as completed
- If there are any debts that were included in your DPP that are still showing as outstanding you should write to your creditor to ask them to update this
- If there were exceptional circumstances, such as redundancy, that led to your debt you can also request to add a note to your file called a ‘notice of correction’ which lenders are required to read