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desperate !!!!!!!Is It Possible in dmp
poptart1_2
Posts: 224 Forumite
:rolleyes: :rolleyes: IS IT POSSIBLE TO DO A DMP AND EXCLUDE 2 DEBTS, these are linked to my bank where i have a current account which i would dearly like to keep, i dont have to pay for them myself as my parents have agreed to pay them for me so i can hold on to my account with this bank, so in theory they will not be on my SOA and will not be affecting what i can pay on the DMP.
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I don't really know, I'm afraid. Why not ring CCCS and ask them? Or go on the DMP thread, someone on there is bound to know.Finally Debt Free After 34 Years, But Still Need to Live Frugally
Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS0 -
I don't know if you got your answer yet, so just in case not...
My DMP terms (with the CCCS) clearly state that you must disclose all of your debt to them and not give any creditors preferential treatment. Also, you must not enter into any additional credit whilst in your DMP without their prior agreement. Basically, you can't sideline a debt that you choose and pay it off once you start your plan.
My advice would be to sort that first or own up to it... and yes, that will mean changing your current account. Sorry!
We had several debts with the same bank as our current account/mortgage and all we have left running with them now is the mortgage. The transition worked well for us
Hope this helps
Newgirl0
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