what would happen if you increased a provident loan

WASHER

heatherks wrote: »

i was told by cab that if i obtained any more credit knowing i was unable to repay it would invalidate my dmp before it was set up

I have heard this too, creditors will not look favourably upon anyone taking more debt out a few days/weeks before they enter a DMP, you may not get the interest frozen because of it. Creditors are not stupid, they will look at your recent spending and make the decision to freeze or not freeze interest if you have been spending hundreds days before you entered a DMP.

Its wise not to take any further credit/spend on the credit card just before you enter a DMP, if you are struggling with debts, offer a token payment or take advice from the likes of the CCCS.

Professor_Pat_Pending

"Its wise not to take any further credit/spend on the credit card just before you enter a DMP, if you are struggling with debts, offer a token payment or take advice from the likes of the CCCS."

This sounds very wise, I havent spent on any cards for a month or so, but have done a balance transfer (innocently trying to sort something out), mind you they have of course immediately made 3% out of it. Will see what Payplan say before deciding on a start date I think?