End my DMP

sjtomkinson

Hiya,

I've been on a DMP with cccs now for over two years and since have got myself a better job and more pay. Looking to the future i want to repair my credit score, would it be best that I just continue with my DMP but pay more money into it or could i end my DMP and call my creditors and re arrange my own payments.? If i was to do this would this help me repair my credit score quicker than just staying on the DMP?

Hope you can share you views.

Many Thanks

delboypass

your credit will not repair until you have settled the debts.

Makes no differences if inside DMP or outside..

Im sure you would have to inform CCCS of any changes to your personal finances anyway as your budget would have changed

Deep_In_Debt

Your credit rating will be trashed for 6 years after you end your DMP regardless of whether you go via CCCS or directly to your creditors. The fact is, you've broken the terms of your original agreement by paying reduced amounts on your dmp.

Obviously by paying more into it, you will clear your debts more quickly but it will still take 6 years for it to drop off your file after your last payment.

I'm on a dmp and don't want credit again so am not bothered about my credit rating.

sjtomkinson

Thanks for the advise. I need to call csss so will speak to them about it. Its just a want to get a mortgage in a few years but just seems whilst this is over me i won't ever be able to get one.

Thanks again :-)