Are dmps worth it?

debtmountainclimber

Hi this is my first forum post as i'm in financial difficulty and have been advised by national debtline that a dmp is my best way forward so i am wanting to here from some of u who are in dmps about the pros and cons of them i've been reluctant to enter into one as i've been scraping by for the last 2 years as me and my gf wish to move in together actually we want to buy a house together but because of mortgage restrictions weve been stuck for the last 2 yearsboth living in our own houses and seeing each other when we can made more difficult living 20 milea apart and my gf working shifts but were still vvery much together but i woukd like to here if anyone has been throuvh btrying to get a mortgage while having a dmp? Any help greatfullly received thanks

fermi

Perhaps ask for opinions on this thread?

DMP Mutual Support Thread - Part 7

Soph86_2

I think it entirely depends on your circumstances. Bear in mind though, that if you go on a dmp you won't be able to get a mortgage (at least without extortionate rates) for the next 6 years.

I'd suggest completing a full SOA (there is a link somewhere on a sticky on the DFW board) so that the helpful people on here can look at your income and expenditure - it might be that you can cut back without going on a dmp.


Soph x