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Changing DMP
craftingqueen_2
Posts: 695 Forumite
We are changing from Payplan to Stepchange after 9 years will the creditors will be able to re-register the debt again on our creditscore?
Proud to be No. 61 in the DMP mutual support group.
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craftingqueen wrote: »We are changing from Payplan to Stepchange after 9 years will the creditors will be able to re-register the debt again on our creditscore?
No, won't make the slightest difference !!
Most likley all defaults have gone now after 9 years, they cannot be reregistered.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thank you sourcrates for your quick reply.Proud to be No. 61 in the DMP mutual support group.0
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Does this mean you can start improving your credit score now or Wil creditors still be able to see you are in a dmp?0
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Does this mean you can start improving your credit score now or Wil creditors still be able to see you are in a dmp?
If all the debts have fallen off your credit file, no one will be any the wiser.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
do you mind if i ask why your changing? i've been with payplan 5 years and my yearly review is tomorrow and i already know they want to pressure me into swapping to an iva so i am thinking about changing provider too0
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In our opinion Payplan have changed for the worst (Yes i know they have been fine with other people).We have never missed a payment, increase payments each year to the point our payments are higher now than they ever were for 3 x less debt , that we started with. We do not want an IVA ,they just won't take no for answer. Payplan might work for some not for everyone.Proud to be No. 61 in the DMP mutual support group.0
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Why not go it alone now rather than jumping to someone elses tune? all the hard work has been done setting up the plan,0
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Just a reminder there is the DMP mutual support thread (part 11) which can offer help, advice and suggestions about DMP's.
In terms of switching or even just running a DMP, make sure you know your balances and verify either with creditor or through noddle at least every 3 months to ensure
1.money is being credited appropriately and your balance is reducing
2. Interest is not being added
3. The DMP company isn't using your payments to prop up their dodgy deals (never use a paid provider, free ones are just as good)
SazDebt -it's a fight that I'm winning, dealing with debt one day at a time.
Estimated DFD August 2018 - 2031 - now 2027 :T
Guide dog Tess, missing Scotland 2 years
DMP support no438.0 -
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craftingqueen wrote: »We are changing from Payplan to Stepchange after 9 years will the creditors will be able to re-register the debt again on our creditscore?
9 years!!! Why are you still paying them? The debts come off your credit file 6 years after default and that's when you make full and final offers with whatever you've managed to save.
Have you gone through the possibility that these debts cannot be enforced in court? If they can't be enforced then there is no need to pay them anything more at all.
9 years ago I had debts I couldn't pay and they have since been written off as uncollectable.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0
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