Two daft DMP questions

cheese_cake_2

Thinking of doing a DMP and just looking for information at the moment.

1. One loan is with the bank that I have my current account with. I don't want to move current accounts and I don't want to pee off my current bank. Can that loan be excluded from a DMP to continue as normal?

2. I have a rewards credit card that I put food, petrol and the usual monthly spending on, but I always clear the whole balance each month and I've never paid interest on it. I just use it for the rewards that goes towards Christmas presents etc. Can I still keep that card and run it in the same way if I'm on a DMP?

Deep_In_Debt

Your loan with the bank must be included in your dmp. You would need to change your back account and include this debt in the dmp. All unsecured debts must be included in a dmp.

bottleofred

Totally agree with deepindebt. You can't sign up for dmp and leave some debts off and include others.

littlebigspender

Hi there,
I was advised to move banks as most of my debt was with the bank I had my current account with, also definately include all debt in your DMP, I might be wrong but if your creditors find out you have "debt" that isn't included on the same DMP as them they might not freeze interest/might refuse reduced payments as on the DMP. Not sure on the card, I cut mine up when I started my DMP but I do know you can't get new credit once on a DMP as it breaks the T&C's of the plan (getting new debt) but as you already have this I don't know the answer. I would just cut it up if it was me and not have to worry abouot that debt not going away!! Hope that helps, good luck!