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DMP Payments now exceed my minimum payments on each of my Credit Cards

ginormousflares
ginormousflares Posts: 238 Forumite
in Debt-free wannabe
Hey everyone. Was looking at my Credit Card statements this last month and I have noticed that that my DMP payments are greater than my minimum payments. Now I was wondering if my Credit Record should start repairing itself? I need to get another free trial to check. Ive already used Experian so will have to find another free trial. I will let you know how it goes. GF
Debt Apr 06 Huge Debt Now Small in Comparison :D:eek:Debt Free Date March 2011
Proud to be dealing with my debts DFW Nerd 793:D

Comments

  • System
    System Posts: 178,439 Community Admin
    10,000 Posts Photogenic Name Dropper
    Not too sure mate, good question though.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • rayday2
    rayday2 Posts: 3,960 Forumite
    A DMP usually effects your credit history because of the defaults registered. Some credit companies mark your file as in "an arrangment". The easy one to suss out is that the further in your past the defaults are the better. But when companies stop marking things as in an arrangement over to meeting normal payments is one I am honestly not too sure about.

    Usually people have come off DMPs when it gets to that stage so sorry I don't know the end of my DMP is many years away!
  • hypno06
    hypno06 Posts: 32,296 Forumite
    10,000 Posts Combo Breaker
    I don't know the answer, hun, but it is a pretty good step in the right direction!!

    :T
    Successful women can still have their feet on the ground. They just wear better shoes. (Maud Van de Venne)
    Life begins at the end of your comfort zone (Neale Donald Walsch)
  • SarahNeedle1872
    SarahNeedle1872 Posts: 6,166 Forumite
    Another one with no clue...... but good news on the payments though!!!
    'We are all in the gutter, but some of us are looking at the stars' - Oscar Wilde
  • Gemmzie
    Gemmzie Posts: 14,876 Forumite
    Not sure being in a DMP shows for every creditor, some of dad's say "arrangement", some have defaults and some don't say anything :confused:

    However, I would say, be ready for interest to go back on :(
    No longer using this account for new posts from 2013
This discussion has been closed.
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