Partner looking at debt management plans

Willing2Learn

PayDay loans definitely.  I am not sure about mobile phone bills.

She should also complain about irresponsible lending for the payday loans.  Lots of people are receiving their money back plus interest. See below:
How to get a payday loan refund – with template letters that work

[Deleted User]

Willing2Learn said:

PayDay loans definitely.  I am not sure about mobile phone bills.

She should also complain about irresponsible lending for the payday loans.  Lots of people are receiving their money back plus interest. See below:
How to get a payday loan refund – with template letters that work

Just checked that list, Safetynet credit was one of the payday loan companies, Infact, when she told me about this company, I immediately told her to call to stop it, she was re lending with them every month because she couldn’t afford to repay the mental interest rates, it’s now paid off so I don’t know where she would stand, but we worked out, that a £250 loan from them cost her over £1500 in interest, over a 8-12 month period.

KeithP

Why has this thread appeared on the Parking Board?

Willing2Learn

The links I provided all go to the right place.  I just double-checked all three links.

Willing2Learn

I think a 'board guide' may have moved it error.  There are no other possible way it could have happened.

[Deleted User]

Willing2Learn said:

I think a 'board guide' may have moved it error.  There are no other possible way it could have happened.

Yep, was definitely in the credit rating section when I posted lol? 

[Deleted User]

Admin, can this be moved back to the relevant place? It was originally posted in credit files, and has been moved.

soolin

There has been a glitch reported where threads are randomly moving and this might be one of them. I have moved it back now (hopefully) 

[Deleted User]

soolin said:

There has been a glitch reported where threads are randomly moving and this might be one of them. I have moved it back now (hopefully) 

Yep! Seems to have gone back😄

MinuteNoodles

If you're applying for a joint mortgage one of the applicants being in a debt management plan is going to be fairly catastrophic, especially now when lenders are reluctant to lend. Payday loans and defaults are bad enough as it is but a DMP can be even worse. Also once you have linked finances, which you would have because of a joint mortgage, her bad credit record has an impact on your own as you are deemed to be financially linked. 
In regards to a consolidation loan, which is what I think you're more talking about, she's going to struggle to get one at a decent rate so it would probably be better for you to apply, if you don't have the money spare, and to give her a formal loan setting out the date of the loan, the purpose of the loan, the amount, the payment terms, any interest and what that amount is, due date and any penalties for not complying. Doing it that way if you split up and she doesn't pay at least you have the ability to pursue her for the debt. Also remember that any finance either you or she takes out would reduce the amount you can borrow on a mortgage to buy a property.