DMP worry

Evie0207 · 24 February 2018 at 11:21AM

I need some advice desperately.

I'm on a DMP with a few different credit cards, store cards and a loan. The loan is with Natwest but it's a joint loan with my partner.

I'm on the DMP by myself and was told it's fine that's it's a joint loan as it's in my name too so it's on the DMP. I've been paying towards it for a few months now but my partner is receiving letters from Natwest threatening legal action and it's really stressing me out.

I rang them and they said just ignore them. But I feel I shouldn't, I'm not getting any but he is getting serious ones.

Where does he stand with this? I don't want his credit ruined because of my mistakes or bailiffs at my house

debt_doctor · 24 February 2018 at 1:34PM

Hi,
I'm afraid his credit rating will be affected as you have a financial link between you (the loan). When he applies for credit, the potential lender can look at his details and yours to decide whether to lend or not.

The other angle is a little more complicated - Is he paying the balance of the normal monthly payment (ie full contractual payment minus your DMP payment)? Or is he paying in full? Or half?

DD

DMP worry

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