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Debt Management plans

navboy
navboy Posts: 3 Newbie
edited 5 May 2012 at 4:12PM in Debt-free wannabe
I entered a Debt management plan during my divorce. I have now sorted myself out enough to be able to afford to come out of this. Does any one know if this is possible?? I would however need a loan, which I am able to afford to repay, to clear the remaining existing debt but not sure if a bank would even consider me for another three years?????
Grateful for any feedback.

Comments

  • Grumpelstiltskin
    Grumpelstiltskin Posts: 5,879 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Who is your DMP with? Not one of the fee charging companies I hope. If it is kick them into touch NOW.

    You won't get a loan so you will have to forget that.

    Have you read this?

    https://forums.moneysavingexpert.com/discussion/2077631
    If you go down to the woods today you better not go alone.
  • Deep_In_Debt
    Deep_In_Debt Posts: 8,579 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    A loan won't actually be clearing your debt as you'll be taking more on.

    You can come out of a dmp and either do it yourself or go with one of the non-fee charging companies such as CCCS or Payplan if you are not already with them.

    Good luck.
    Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free :)
    Mortgage free since 2014 :)
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