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Old defaults and a DMP
ACP021
Posts: 15 Forumite
I've got three old defaults which are all settled and due to reach their 6 years this Spring. However, I have one DMP which is continuing (from around the same time) and which doesn't appear on my credit records at all.
What's the best advice here in terms of what my options are and what might happen? Do I just continue to pay the DMP for the next X years until the debt is finally paid off? A lump sum settlement is out of the question at the moment. Should I be doing anything with the debt company after this time? Am I at risk of them suddenly deciding to take a CCJ or similar route?
Any words of wisdom would be gratefully received.
Thanks.
What's the best advice here in terms of what my options are and what might happen? Do I just continue to pay the DMP for the next X years until the debt is finally paid off? A lump sum settlement is out of the question at the moment. Should I be doing anything with the debt company after this time? Am I at risk of them suddenly deciding to take a CCJ or similar route?
Any words of wisdom would be gratefully received.
Thanks.
0
Comments
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Continue paying until you have repaid.
There is no reason for them to seek a CCJ, though they may well do if you were to stop paying. The debts would then be back on your credit files for another 6 years.0 -
Can you elaborate a bit on who your DMP is with, and how much is outstanding to how many creditors.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
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Thank you. It's approx £10k with Barclaycard (previously Egg)0
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