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Shall i go ahead?
LolStevo
Posts: 548 Forumite
I have sent my paperwork back to cccs to enter a dmp with them, the thing is i dont know if im doing the right thing?!?!
I have debts of around £3000 but only around £1000 of this is with collection agencys which i can agree a monthly payment to be paid every month. (3 dca's) i know they would be cleared by next year.
The thing is my overdraft, it is £1200 and always on the brink i have managed to get that back within the limits and keep it there and actually am in my limits for my credit cards.
I am a student at the moment so obviously not a lot of money but i will be getting a full time job in June next year so can pay more off?! i currently have 4 defaults on my credit report (im only 20!) so think a dmp will damage more? any advice please i dont know what to do!?!?
I have debts of around £3000 but only around £1000 of this is with collection agencys which i can agree a monthly payment to be paid every month. (3 dca's) i know they would be cleared by next year.
The thing is my overdraft, it is £1200 and always on the brink i have managed to get that back within the limits and keep it there and actually am in my limits for my credit cards.
I am a student at the moment so obviously not a lot of money but i will be getting a full time job in June next year so can pay more off?! i currently have 4 defaults on my credit report (im only 20!) so think a dmp will damage more? any advice please i dont know what to do!?!?
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Comments
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Hi Steve
The important thing to remember is that if your income increases, you will be able to make higher payments in your DMP. In the mean time, your debt will be decreasing and not increasing
Hopefully you have identified the reasons for the debt and won't fal in the same trap again.
Good luck
Leason learnt :beer:0 -
Hi Lol
I think you are doing the right thing - a DMP will discipline you in managing your money and will stand you in good stead for life after uni. The defaults will already have spoilt your credit rating, but you will be viewed more favourably by potential creditors if you can prove that you are on top of your finances. You will always be able to review your situation with CCCS and, if you find yourself in a position to settle all your debts, this will be a plus for you.
Good luck.:beer:
Rog2I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0
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