Credit Rating & DMP help

DoctorFan

Hey - I've been in a DMP since August last year and was wondering, if possible it was possible to improve my credit rating while in the DMP or do I have to wait till after?

National_Debtline

Hello there,

Your credit rating is generally a culmination of various factors including your outstanding debts and items such as mobile telephone contracts. Some utilities firms are now also starting to process information on credit files too.

As you are under a DMP it is likely that your creditors would have either placed later payment, arrangement to pay or default markers on your account - or a combination of. You can help by ensuring that your ongoing commitments (such as a mobile account) is paid on time but realistically you may need to accept that your file is likely to be hindered for a while.

We've a useful guide to credit referencing which you can find here:
https://www.nationaldebtline.org/EW/factsheets/Pages/05%20EW%20Credit%20reference%20agencies%20and%20credit%20reports/Default.aspx

Best wishes,

David @ NDL.