DMP & Mutual Support Thread - Part 10

And_Dream_of_Sheep

glitterunicorn wrote: »

I have a question in regards to Credit Ratings/Mortgages if anyone can help me out.

I'm 25 at the moment and I don't have a mortgage. My credit rating is obviously shaky at looks to be the same for 6-8 years (I'm hoping closer to 6!).

I'd like to look for a house before that time but what are the chances of me being accepted for a mortgage? My DMP would be finished before I would consider this.

Do I need to wait the 6-8 years? Or is this done case by case? I'm not worrying too much just now but in 3-4 years I will be.

Hi glitterunicorn,

I'm in a similar position (although I'm 30 so you've got more breathing space than I do!)

My understanding is that mortgages are tricky to obtain for those of us who have made serious debt mistakes in the recent past (six years) so I'm aiming to pay off my debt by December 2016 and then spend six years saving for a deposit. At this point I'll be 38 and all of my terrible credit history will have dropped off my credit file which will put me in a much better position for gettnig a mortgage.

When's your debt free date? At 25 you have plenty of time to save for a deposit and wait for your credit file to improve! I wish I was still 25 and having my LBM rather than spending spending spending! :mad:

Good luck! :T

Triangle

Thanks for the welcome.

Feel like there is so much to do getting ready for this DMP, it's quite overwhelming. And not easy with two little people hanging off me all day

Today's task is to get rid of SKY, knocking £40 off my budget.

SquirrelNuts

Triangle wrote: »

Thanks for the welcome.

Feel like there is so much to do getting ready for this DMP, it's quite overwhelming. And not easy with two little people hanging off me all day

Today's task is to get rid of SKY, knocking £40 off my budget.

Hi Triangle,

On the Sky front, instead of completely closing your account you can convert it to 'Freesat from Sky'. There are no subscription costs but I think there is a one-off £25 to convert the card.

This gives you access to all of the terrestrial channels e.g. ITV, BBC etc and also a whole bunch of Free to Air channels using the your same box and dish :beer: To get an idea of the channels available, you can pull your card out of the box and surf the channel list to see what still gets displayed..

Alternatively, you could flog the sky box and remote control separately on ebay or gumtree!

Squiz

minkeymootoyou

After 4 months and many an email very have finally accepted my dmp. I told them that charging £16 interest on my £22 payment. It will never go down. Took a while but was worth it.

blisteringblue

SquirrelNuts wrote: »

On the Sky front, instead of completely closing your account you can convert it to 'Freesat from Sky'. There are no subscription costs but I think there is a one-off £25 to convert the card.

Not quite true. If you already have a card it will automatically carry on working as "Freesat from Sky" the cost is only when you don't have a card at all. Ie you buy an old box from fleabay.

Solve-it

Thanks for replies Guys and Triangle keep positive - this has gotta end up all GOOD! :-)
I trried ringing PO money collections team and they are only open 9-5 also the number they have given does not work over 4 yes 4 mobile networks - deep joy - I phoned their C/S team tonight and was told ring the C/S number btween 9 and 5 that should accept mobiles and they'll put me through - quite laughable - will update tomorrow.

Have had HSBC cc statement tonight saying no interest but if I dont pay full amount they will go to collections agency - oddly these were my main bank and I have had no response at all to my letters or confirmation that they aknowledge SC.

I think it really is a case of sit tight and wait a bit until the payments start to be collected and sent out by SC.
Be nice to know where I stand with these last 2 though - all the others have aknowledged and accepted so far - some for only a year at first but thats all ok.

Ist like heading up a slippery slip road but hopefully once on the motorway things will trundle on in the right direction. :-)

Triangle

Thanks Blisteringblue and SqurrielNuts, we've actually got a FreeSat box to use instead so no need at all to stay with Sky. It's ridicuous really as we hardly any watch any of the channels you can't get on 'normal' TV - I only really got it for the record and rewind function and of course you can have that on freesat recorder boxes!

Felt really good to cancel (even though they were VERY hard to deal with!) and got a good deal with another provider for phone and broadband.

Solve-it wrote: »

Ist like heading up a slippery slip road but hopefully once on the motorway things will trundle on in the right direction. :-)

Love this!

Tx

Karen777

Almostthere78 wrote: »

:

Hi, if you scroll back a few pages there is a link to a newspaper article where Halifax state that they automatically freeze interest for DMPers, refer to it in a letter and see what they say!

Hi - I can't find this - can someone post the link if you know where it is?

Cheers
Kaz.

Solve-it

Got through to HSBC re Credit card and was told quite simply "its all in hand dont worry"
Thats the kind of phonecall thats worth making.
:-)

teeni

I have 3 accounts with Halifax, 2 current accounts and a loan account, they froze interest instantly on the 2 current accounts, after taking advice from on here I rang them and asked why they treated the loan account differently and they said it was to prevent me having a default but if I wanted it to they would , and they refunded the interest they had already added after agreeing to accept the payment offered.


in fact all my creditors have now agreed to stop interest except Barclaycard who have told me they will charge 3% per year


you cant win them all , I may challenge this in a few months but only 6 weeks in I am happy at the minute that all offers have been accepted