Questions!!

kken

Ok, have decided to take matters in hand because living with this stress is not funny!
Will sort SOA today sometime so you all can have a look and give me the benefit of your wisdom.
Just a couple of quickies-I really dont want to go bankrupt as dont want to lose the house but what if cccs say its better than a dmp.
Also, can i change electricity suppliers for better rate with present arrears?
Does going for a dmp then automatically prevent you from obtaining credit in the future if you are clear of debt? I am not thinking of jumping back into debt when we clear this it is just that i can envisage situations when you might need to pay for something in installments.
One other thing, we have a loan with welcome at £136 a month but last month could not pay it so cancelled dd. It was due out on 1st and we will be able to pay before months out due to pay but they managed to take it out on our debit card which we had once used about a year ago to pay them. I didnt think they could keep your card details and certainly not do this. It has put our overdraft over its limit at £5 a day charge and a £25 charge for going over. I have had new cards ordered so they cant do this again but can they do it in the first place?

bank_of_slate

Thanks kken, make sure you use the https://www.makesenseofcards.com/soacalc.html tool, format it for MSE and make sure your amounts and APRs are accurate
...Linda xx

fermi

kken wrote: »

Just a couple of quickies-I really dont want to go bankrupt as dont want to lose the house but what if cccs say its better than a dmp.

You don't always lose the house. How much equity do you have?

kken wrote: »

Does going for a dmp then automatically prevent you from obtaining credit in the future if you are clear of debt? I am not thinking of jumping back into debt when we clear this it is just that i can envisage situations when you might need to pay for something in installments.

The lenders will default you accounts and the record of that will stay for 6 years. After that your credit record should be clean. You would need to build a credit history again which can be tricky, but you won't be permanently excluded from credit.

Jvic28

kken wrote: »

can i change electricity suppliers for better rate with present arrears?

I changed suppliers with arrears. My arrears were sent to a DCA which is now on my DMP.

kken wrote: »

Does going for a dmp then automatically prevent you from obtaining credit in the future if you are clear of debt?

It will depend on your individualt circumstances but any history of late payments/defaults etc will stay on your credit file for 6 years so that will have an impact on your credit rating.