DMP advice/help

pepperzoid

Hi,
First forum post i will keep it as short as possible.
I have been in a DMP for approx 2 years with a current debt of around £8000 to different lenders.
My debt came about from my partner losing his job and using my details to apply for numerous payday loan companies without my knowing until it was too late. He did this to try and hide the fact he had lost his job. I have paid off approx £4000 towards the debt since the beginning however obviously my credit score has took a massive hit.
I am doing my best to keep a check on it each month and have managed to get a credit card & mobile phone contract which has helped and upped my rating by around 50 points.

I just wondered what peoples advice would be and whether there's anything im missing or that you would do differently?
There are defaults on my credit file which ive been told stay in place for 6 years so is it just a case of waiting until it improves?
I'm on the electoral register.

Usuful advice would be greatly appreciated not just "kick him out" - it was a dark time in his life and he knows it was very wrong however we all make mistakes and there's no point in dwelling on it we are just looking to the future and trying to improve our situation.
Thanks for your time

[Deleted User]

Time is the main healer here.

Additionally, use your card regularly and pay in full each month.

Finally, ignore your credit score and whatever you do, do not take any action based on how it moves up or down.

pepperzoid

thanks for the reply.

So when it comes to me dreaming of one day having a mortgage will it only ever be a dream or is it a possibility and if so how long are we talking before any bank would consider me?

Currently work full time and salary of £20,400 with 1 dependant child.

glentoran99

There will always be options, the longer you wait the cheaper those options, when the defaults are gone its like they never existed

National_Debtline

Hi

For a mortgage application your deposit size and affordability are really important factors, as well as allowing time for your credit history to improve. Ideally for defaults to drop off your credit file as glentoran says.

You could also think about paying into a Help To Buy ISA if you haven’t bought a property before. I’m not sure that would be viable while you’re in a DMP but perhaps once you’ve paid off your debts.

James
@natdebtline

pepperzoid

Yes I'm definitely hoping to get into the help to buy savings scheme I'm jus waiting until I'm in a position to pay in the first months maximum of £1200 to take full advantage of it.
So hopefully in another 4 years when the defaults come off I can look into a mortgage. In the mean time I will focus on saving saving saving.
It has really been getting me down but it sounds like it's not as huge as it feels and I just need to give it time.
Thanks everyone