cccs question

SILENTLUCIDITY · 23 June 2006 at 4:47PM

this is my first post i am in a lot of debt and have spent a while reading the forums it seems as tho that getting cccs style plan is my best bet if i do this will it affect my ability to get a mortgage in the future

Wonder_Girl · 23 June 2006 at 4:58PM

Hello and welcome.

Having a Debt Management Plan will NOT show on your credit file, so in its self would have no adverse affect upon your credit file and anybody looking at your file would not know you had a DMP.

Hope that helps

WGx

TallGirl · 23 June 2006 at 5:18PM

I disagree with that, if you cannot keep up your contractual payments and have to enter into a DMP it will by most creditors get reported to the credit reference agencies.

CLAPTON · 23 June 2006 at 5:19PM

if you can't pay the monthly amounts due (e.g. minimum payment on a Credit card or the agreed monthly payment on a loan) then your creditors are likely to default your a/cs. this will show on your credit record for six years. while this will not necessarially prevent you getting a mortgage it will obviously be a factor that the mortgage company will take into account.

In_Search_Of_Me · 23 June 2006 at 6:33PM

Hi, When you say you have alot of debt dont worry most of us are so you're in good company (mine is approx 35,000). If you feel able I would suggest posting a statement of affairs so people can offer suggestions of where you can save money or cut down...I realise you may not want to which is fine (I never have!!) but people can give you specific advice if you do...alternatively get in touch with cccs/payplan etc & ask them what they suggest. Best to tackle it now...feels a whole lot better when you do. Big hugs & welcome...