Dmp

cycloneuk

I have been on a DMP for just over a year, most creditors have accepted the arrangement. I still have access to credit on 2 catalogue accounts and have a small vodafone contract, i have still been paying them, since they only had low balances.

I know your not really supposed to take any new credit on a DMP but i plan to settle my existing 20k+ of debt once i sell my house, and would like to try and rebuild my previously excellent credit file.

I was thinking of just purchasing some low value items every few months to keep the catalogue accounts active. Not sure how much that would improve my credit history with 3 defaults now on it, does it help at all once they show as settled?

I ran up the debt through a failed business.

Triggles

You're technically not supposed to. I guess you should ask yourself if it's worth the risk. If you doing a DMP through an agency of some sort and they find out, they could dump you. The whole point of a DMP is not only to reduce your debt but to give you time to learn new spending habits. Perhaps you'd be best letting the catalogue accounts go and getting a PAYG phone, so that you are not going against your DMP agreement, as I'm sure they've advised you not to access any more credit.