Unusual situation : is it possible to have a loan while on a dmp?

another_casualty

Hello

I'm trying to sell my flat, which is presently on the market .
I have a dmp, with Payplan . In 2018, the six year period ends.

I won't give an s o a , simply because once my home is sold, the equity will clear my debts and I will be debt free for once.

The problem I have ( apart from being very skint) , is that I would like to borrow £5-10,000 to help with basically everything .
Of course, if I was lucky enough to get it, I would pay that off straight away also when my home is sold.

A couple of things to note are: I have a mortgage with Santander , I have a homeowner loan with white label which has £16,000 outstanding.

I was wondering , if I should ask white label for more?
Other than that, I don't really want another secured loan on my property.

Believe it or not, last year my credit score with experian was really good. I bank with nationwide, but am frightened to ask for an unsecured loan.
You may have seen my other thread , 'quit everything...'

Please advise

Thanks

DCFC79

You do realise your credit score isn't all that, yes it may have been really good but that's as far as it goes, lenders don't see it and the other agencies will rate you differently.

[Deleted User]

another_casualty wrote: »

Believe it or not, last year my credit score with experian was really good.

I believe it, as your score is meaningless.

Isn't it against the terms of a DMP to get further credit?

another_casualty

Thanks dc. Yeah , it's basically shot to pieces

another_casualty

Deleted_User wrote: »

I believe it, as your score is meaningless.

Isn't it against the terms of a DMP to get further credit?

Thanks zx . Yes, you're right. I was just wondering,as I was doing something dangerous ( Google ) . Apparently, there seem to be loans for people with bad credit problems who don't get credit searched thoroughly .

[Deleted User]

Any loan advertised for people with bad credit will be a guarantor loan, a huge APR, or an outright scam with an advance fee. Don't take any of them.

another_casualty

Thanks again zx:)
It seems like it's best to struggle I guess .

[Deleted User]

It normally is. And your future self will be very grateful to you.

another_casualty

One thing I was thinking about, is to just get my overdraft increased for a few months , till my home sells . ( not supposed to have overdrafts either )

another_casualty

Deleted_User wrote: »

It normally is. And your future self will be very grateful to you.

Yes , you're bang on

another_casualty

I wonder if nationwide would increase my o/d for a few months.
Not sure whether to ask or not .
I'd forget about the loan , which is now a bad idea.
It'd be for , say £2,000 max instead of £1500 I'm on at the moment .
Any thoughts ?