Help Requested

sazzyc10

Hi

We have recently entered into a DMP with payplan and i'm happy how its going and all creditors have frozen interest!!! So Happy but we didn't get into this situation by any fault of our own. When i had my daughter i ended up in psychiatric care for a while and when i was discharged my husband was made to give up work to look after me and my daughter. This put a huge amnount of pressure on our earnings going from nearly £40k a year to benefits. It took its toll and eventually folded 3 months ago when i nearly ended back up in hospital. Hence the fact we are now with payplan.
As i said i'm happy with how its going but i was wondering what people thought about putting a note on my credit file to point out why we had the difficulty. Do lenders even bother to read them?? I'm not looking to borrow any money until the end of our plan in Dec 2012 but just wondered how other people found it as we would like to port our mortgage after the end of our plan and i just wondered if it helped having the note on.

Thanks
Sarah

Tixy

Hi

Glad to hear you have set up your DMP and its going well.
Generally I believe that unless you actually dispute a debt then putting a notice of correction on your credit file doesn't usually do a lot of good. Potential lenders would read them but I don't think they would take the circumstances into account. And as your debts will be paid off before you will be applying for credit.a new mortgage anyway I think they would not help at that stage.

Others may have different experiences though.