DMP and more credit....

crafty1

Hi, I have a quick question.

If you applied for more credit whilst on a DMP and were accepted, how realistically would your creditors in the DMP find out?

I know you shouldn't more credit etc, but i would be appreciative if someone could answer my question!

Thanks x

sharp82

If the credit is underwritten by the same company they might find out.

crafty1

Thanks, would they have picked that up at the time of issuing the card?

John1993_2

There's a fair chance that it'll appear on your credit report, too, which they can then see.

I can't imagine a circumstance where it'd be worth the risk.

sharp82

You would think so.

It all comes down to the companies involved, and their processes I suppose. I imagine you would apply for a card with 'company A'. The card is underwritten by the same company you are in debt to 'company b'

I don't think the underwriters would know you are in a DMP. They would just tell company A, that you already have a card with company B. It would then be up to company A to check.

This is all hypothetical though!

crafty1

I have a credit card debt with capital one(in my name) which is in a joint dmp. My husband has just applied for and been accepted for a luma card - underwritten my capital one?

tinkerbell73

Tale of woe here - don't apply for credit while on a DMP you pay through the nose for it and it starts the process all over again. My ex left me with 50k of unseccured debt of which i have paid off 25k in 8 years and brought up our 3 children with no help from him what so ever CSA are a joke (another story) - i started with a small cc then a catalogue for emergencies and now a few years on the monthly repayments are killing me and have had to restart my DMP :-( i am hoping the original creditors don't pull out as bankrupcy and loss of my job is the only option :-(