DMP - think I made a mistake

Experian_company_representative

Credit history data is only visible to lenders who take part in the data sharing. Landlords, letting agents etc do not take part so they cannot see your credit accounts. All they can see is publicly available data such as court judgments, bankruptcies, IVAs, DROs.

As a result, a default cannot affect an application to rent a property.

By the way, credit report scores are not included in statutory credit reports because these scores are not seen by lenders. A statutory credit report is a copy of the data in your name a lender could see.

The scores you can get from the CRAs are simply a boiled down version of your credit report data, produced as a useful guide for you. Lenders' scores are based on different recipes using extra ingredients!

James Jones

TakingControl

Why don't you post a SOA and people can help identifying where you can make some savings?

As for the renting, did you have a look on gumtree etc where you can rent from private landlords who might not make a credit check?

Mookiemoo_2

Its a bit difficult to do an SOA

Income GRoss - 450 per day plus VAT

Outgoings - depend on where I'm working - if I have to work in london - high commuting and hotel costs. Outside london - cheaper hotels, lower fares. If I can WFH, no expenses.

I have to have unlimited BB at 60 per month - the rest is the usual insurances etc and groceries. I don't buy clothes etc

Hannah_10

If my posts have been deleted you can take down her blatant dig at persons paying less than £750 a month on her first post too.

TakingControl

Surely you should be able to do a SOA based on your last 12 month average?

If you mean BB = broadband then £60 a month is huge. :eek: I work from home and I have BB and landline and unlimited landline calls at anytime for £19.99 a month

Mowgli87

Landlord Credit Checks have nothing to do with your credit 'rating'. I mean jeez, I rent a 750 a month one bed flat, my credit 'score' is 190 (Very poor) and I have NEVER had an issue renting properties. EVER. I have only had to give references. Look in to this some more, because you are either mistaken, or there is another reason these landlords dont want to rent to you - and you need to find out what that is.

If you have £15k in the bank, pay it towards your debts and get back on track with your creditors. DMP's are usually for people in financial difficulty who cant meet their minimum payments/financial obligations. If you have that much money then I cant begin to understand why you went onto a DMP.

Is there an underlying issue here? The people on MSE are very helpful, but your story is a little bizzare, which is why people may not be very forthcoming with friendly advice.

Watalie

Mookiemoo wrote: »

Its a bit difficult to do an SOA

Income GRoss - 450 per day plus VAT

Outgoings - depend on where I'm working - if I have to work in london - high commuting and hotel costs. Outside london - cheaper hotels, lower fares. If I can WFH, no expenses.

I have to have unlimited BB at 60 per month - the rest is the usual insurances etc and groceries. I don't buy clothes etc

Mookie - I don't mean to sound rude - even though I will...

My OH is a contractor too, on a rate similar to you. Shock horror - we rent a penthouse (ok, it's a small one!!) for £720pm.

We also, on his rate, manage to save a fair whack every month. His client pays 45 days in arrears, it's not difficult to have enough savings to cover the fallout between contracts.

With regard to broadband, we have it via BT with the phone and tv and it's less than £60pm.

And it's easy to do a SOA (aim for a min of 18 working days per month to give you some leeway)

dancingfairy

I'm a little confused here. Why are you doing a dmp? you don't seem to be a suitable candidate at all.
You have 15k in the bank - presumably you could keep some to pay some of your expenses between contracts and hit the debt with the rest?
You have equity in a house (don't know if you've tried to release this).
You appear to only declaring some of your income to Payplan so you can get a dmp and putting the rest through your company.
You appear to be able to pay the debts at the moment so why you didn't carry on paying as much as you could when you were workingand then try and arrange a payment plan when unemployed or try and pay down the debts as possible when working so when unemployed you would have more options I don't really understand.
You didn't understand the implications of a dmp for some reason.

I'm just confused by it all to be honest.
df

Mookiemoo_2

No, no underlying issue

If I am working, I can pay everything on time but after expenses have very little left.....

Then when I come towards an end of a contract, I am left with the last months payment - usually about 8K and no immediate hope of work. If I just pay rent and bills that will last about 3 months.

Every time until now I had a contract lined up before fdinishing the next one - so I never worried. Except I've been out of work three weeks (start 6 month contract on monday) and was facing just the above situation

The DMP allowed me to pay my liabilities but also put something away should I be out of work. Which is WHY I considered it

The 15K is just two months money which is now being used to catch up payments but in six months time if I don't get an extension I'll be biting nails to see if I get a new contract

Mookiemoo_2

60 a month covers sky , unlimited calls including international and unlimited BB