DMP & Mutual Support Thread - Part 11

make_the_change

Quick question.... we are hoping to look at a property in a couple of weeks and I have just started a self managed DMP.... I am in a panic that we will fail the credit checks.... Is this likely?

bsclp118

If its for rental credit checks you won't have any problems.

I just got a new rental property a few weeks ago and I'd had 2 months of token payments, 1 month DMP payment.

I think it's been covered before, but they can only see what is public information - i.e CCJs, IVA, bankruptcy. So even if you have defaults that wouldn't be public and shouldn't effect their credit checks.

Hope that helps :-)

make_the_change wrote: »

Quick question.... we are hoping to look at a property in a couple of weeks and I have just started a self managed DMP.... I am in a panic that we will fail the credit checks.... Is this likely?

Bouncybubbles

Hi all hope you are all enjoying this fine sunny day! Just a quickie to say I have managed to re-mortgage today! I know its not a massive deal but it has provided such peace of mind for the future! As we are on DMP I knew we would have to stay with current lender and current monthly amount is £513. However on calling them and enquiring about alternative products for when ours ends in October I was delighted to be told I could remortgage now ready for October! I have managed to secure a 5 year fixed (which is what we wanted) which should last longer than the DMP and hopefully the defaults allowing us to start afresh and possibly move home or mortgage! however whilst the DMP is running I know I haven't got to worry about finding an alternative lender etc. To top it all the new deal is £70/month cheaper!!! :eek:

LadyMorticia

Hey everyone.

Bathroom has been stripped and a new toilet put in. Plasterer is coming tomorrow to do the walls and put the floor down, then everything gets put back on Wednesday and the electrician is coming on Thursday. Phew.

However, now we don't have any hot water as the boiler is reading error code F75 (according to the builder dude) and our boiler is in the loft so I can't get up there. Gas company should be here this afternoon to have a look.

We also have a leak in our kitchen. The builder said that when he went to turn the stopcock off, his hand was soaking and it appears to be in the pipes in the kitchen walls so the sink and units will nee to be ripped out. Sigh. That's '50s buildings for you I guess though!

On the plus side, I got a default notice from Capital One today.

sourcrates

LadyMorticia wrote: »

Hey everyone.

Bathroom has been stripped and a new toilet put in. Plasterer is coming tomorrow to do the walls and put the floor down, then everything gets put back on Wednesday and the electrician is coming on Thursday. Phew.

However, now we don't have any hot water as the boiler is reading error code F75 (according to the builder dude) and our boiler is in the loft so I can't get up there. Gas company should be here this afternoon to have a look.

We also have a leak in our kitchen. The builder said that when he went to turn the stopcock off, his hand was soaking and it appears to be in the pipes in the kitchen walls so the sink and units will nee to be ripped out. Sigh. That's '50s buildings for you I guess though!

On the plus side, I got a default notice from Capital One today.

HI,


Leaky pipes are easy peasy to fix, once you've found the leak that is !!!


Boiler may not be so simple or cheap though sadly !!

KID77

Well done BouncyBubbles, thats great news.

I am envious as we are stuck with NRAM at the minute and unable to change xx

System

Congrats BouncyB - that's great news and a great saving. Our offer is due to expire in March next year, perhaps I'll give them a call and see if they can do anything for us yet.

LadyM - congrats on your default and hope issues get sorted quickly!

scared1

Hi

I see the reply above for somebody who has just started a DMP but mine started 7 years ago- 1 year left. Will it effect my rental credit checks?

I'm having a terrible time right now as I have just spilt up with my wife and urgently need to find another place to live.

We currently privately rent and there has never been a late payment or missed one (although all in her name). I also own a house 200 miles away which I rent out and the mortgage has never been late or missed in the 10 years I've owned it.

My situation is I am on a debt management plan and my noddle credit score is 1 (530) which I think is the lowest. I have no bankruptscy, IVA, CCJ etc just defaults and a payment plan.

I have to fork out over £200 for credit checks to rent a flat and my question is - will I pass one?

I really do not know what I'm going to do if I can't get credit to rent.

Any advice appreciated.

Thanks

bsclp118

I'm pretty sure this has been asked before and aslong as its just defaults and not CCJs/bankruptcy etc its still fine as they only have he right to look at public info.

Having said that I'm sure someone will correct me if this is wrong.

Estate agents are the worst. Me and my partner paid £300 referencing fees and they were ringing us up at 3pm the day we were supposed to move in to get us to chase up the references. The cheek of it! Good luch though!

scared1 wrote: »

Hi

I see the reply above for somebody who has just started a DMP but mine started 7 years ago- 1 year left. Will it effect my rental credit checks?

I'm having a terrible time right now as I have just spilt up with my wife and urgently need to find another place to live.

We currently privately rent and there has never been a late payment or missed one (although all in her name). I also own a house 200 miles away which I rent out and the mortgage has never been late or missed in the 10 years I've owned it.

My situation is I am on a debt management plan and my noddle credit score is 1 (530) which I think is the lowest. I have no bankruptscy, IVA, CCJ etc just defaults and a payment plan.

I have to fork out over £200 for credit checks to rent a flat and my question is - will I pass one?

I really do not know what I'm going to do if I can't get credit to rent.

Any advice appreciated.

Thanks

Pickle29

Hi everyone
We are currently 2.5 years into a DMP, not missed a payment... However, hubby is now off sick with work based stress and is hoping to not go back there. He is employed as a contractor through an agency and has registered for work with other agencies today. But does anyone know..
will he be entitled to ssp and if so, doe he claim from his employer or from the benefits agency?

Also, has anyone reduced their DMP payments due to sickness/ reduction in wages and how did it go? I'm really worried because it's been going really well but I know we can't keep up what we currently pay stepchNge and not sure when to tell them ( this months payment will go on 10th and we can just about do it I think!) but I know we won't be able to after that

Many thanks in advance