Changing hire purchase on debt management plan

Billywilliams

I've recently set up a debt management plan to repay credit cards and an unsecured loan.
I have a hire purchase agreement for a car which is not included in the plan. I would like to change my car with a new hire purchase agreement.
This will reduce my monthly repayments and also the fuel expenses as I'm looking at an electric car, allowing me to repay my debts sooner
However, my concern is, would this be seen as applying for new credit which I have agreed not to do?

sourcrates

Billywilliams wrote: »

I've recently set up a debt management plan to repay credit cards and an unsecured loan.
I have a hire purchase agreement for a car which is not included in the plan. I would like to change my car with a new hire purchase agreement.
This will reduce my monthly repayments and also the fuel expenses as I'm looking at an electric car, allowing me to repay my debts sooner
However, my concern is, would this be seen as applying for new credit which I have agreed not to do?

Hi,
A DMP is a voluntary agreement between you and your creditors to repay your debt, its an un-official agreement agreed by all parties, you would not need to consult any of them if you wanted to change your car, its not really any of there business, if you need a car you need a car, right !!