New credit card on a DMP

getting_there_slowly_4

Hi all, I'm currently a year into a DMP with £27k of debt over credit cards, overdraft and a loan.

My work circumstances have changed and I spend around £200 a week on travel expenses from my own funds. I get this back but it's usually around 2 weeks after the expense, so there is always at least £200, and usually £400 of money floating around in limbo and not in my account.

Can i get a credit card to help with this? I'd use it for my travel expenses and pay it off when they get returned to me so no danger of running up a high bill, but would anyone touch me with my DMP on the go? Limit would not need to be any more than £500.

I end up having to borrow cash just to get to work which I really want to get out of the habit of doing.

Thanks
gts

Tixy

As part of your DMP you will have agreed not to take on any more credit.

If you creditors find out then they could stop co-operating with your DMP. If your DMP provider is one of the free ones and find out they may stop administering your DMP.

All that said - to answer whether anyone would actually lend to you - its likely that you have had a number of recent defaults on your credit accounts (from within the last year) and you may have arrangement to pay markers. You are probably unlikely to find a card provider that would accept you. I guess a subprime lender might.

But it doesn't seem worth jeapodising your DMP for. Could you talk to your employer about the situation - ask them if they can pay expenses more frequently or a chunk upfront and the balance after the expense. Or ask if they could give you a business credit card that you could use.

stephane_2

If you are on a DMP with 27k worst of debt....I doubt that anyone will touch you. Better check your credit report to see how everything is being reported.

getting_there_slowly_4

thanks for the advice, the dmp i'm on is based on agreements made direct to creditors . Not much chance in getting a works card or an advance on the costs either.