So Confused !!!!!! Should I do a DMP

SCANIA2000

I put a thread on Saturday asking advice on a DMP. I have read alot of comments and never slept again last night I just dont know if it is the right thing . Can you loose your house !!!!!! Do they make you go bankrupt.
I keep going to fill the form in on the CCCS website but come back out.
I have just tried to take a loan but the interest rate is 24.9% . :mad:
As anyone been able still get car finance on a DMP, as my car will need to be changed again in 2 years as I am on a passport plan .
Please help !!!!!

tigerfeet2006

Take a deep breath and don't panick. Get a cuppa and sit down and do the Debt Remedy or pick up the phone and speak to National Debt Line. They will help you through this.

~Beanie~

Hi Scania

Don't panic!! Fill in the form on the CCCS website, you don't have to commit to anything and it gives an indication of a possible solution for you, you don't have to take the advice. I've filled it in lots of times and never actually done anything it suggested.

You will not lose your house and you are very unlikely to be made bankrupt if you set up a DMP. Taking a loan is generally not a good idea either, you are just shifting the debt from one place to another.

Have you posted an SOA yet to see if anyone on here can help?

Deep_In_Debt

Hi
CCCS will not allow you to take further finance whilst on a DMP so unfortunately, they will not allow car finance.

You won't lose your house and as long as you keep up payments you are unlikely to be made bankrupt.

Don't panic!

bargainbetty

What is a passport plan? If your car has to be replaced every two years, then you are only accruing more debt.

I echo the 'don't consolidate into one loan' comments - you are over a barrel right now, and you'll end up paying double what you owe.

Speak to the CCCS. You pay nothing for the advice, and they can really help you.

Try putting up a SOA here too, lots of wonderful people here will help you for free too.

X

SCANIA2000

Deep_In_Debt wrote: »

Hi
CCCS will not allow you to take further finance whilst on a DMP so unfortunately, they will not allow car finance.

You won't lose your house and as long as you keep up payments you are unlikely to be made bankrupt.

Don't panic!

Thank you for your advice !!!! Its just so scary !!!!
I owe one creditor 21,000 will they except the DMP.
Do you still manage to live !!!!! I have a young child and would still like to get her xmas and birthday pressies.I know we would have to cut down !!!
I will phone CCCS and ask them about my car situation.