Rules of DMP - How do you read this????

JoJo_Sparkly

Hi

Sorry for being a bit dense but I'm on a DMP with CCCS (since Dec 2006) and am about to finish a fixed term period with my mortgage which means the rate is going to go up considerably. I wrote to CCCS about this asking if it was possible to get a new mortgage without breaking the No more credit rule of the DMP or would I need to stick with my current mortgage with Halifax. this is their reply:-

this is the answer to your question - Thanks for letting us know. You will need to do another budget review when you have a new mortgage so that we can amend your income/expenditure accordingly and assess your monthly payments. Please contact us when you have changed mortgages or alternatively, we will contact you in March. Regards

Now I read this as its ok to go ahead and apply for a different mortgage
- do you read it the same??? Just don't want to balls up my financial arrangements now that I've got them up and running. If it seems I'm being pathetic, I know I am - end of a bad week, but terrified to make my situation any worse.

doodah

it sounds to me that they're saying go ahead and apply for a new mortgage. if your mortgage payments stay roughly the same with the new one, i wouldn't have thought the payments to your creditors would change drastically. i'm sure someone a bit more helpful will be along soon!

livinginhope

Hi there jojo,I think as long as you aren't applying for more money on your mortgage,all is OK.If you are just changing to another rate there will be no problem,but it may free up some more money for your DMP this is why they will need to update your SOA.
LIH

System

I agree I would think it would be fine to change mortgages. If and I repeat if you cannot maintain your current payment arrangements i.e. they go down some of your creditors may get arsey for a while but with the CCCS in your corner I'm sure you will be fine.

Lenny