We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Can I have an ISA if I have a DMP with StepChange?
Galsy1001
Posts: 6 Forumite
I have a DMP with StepChange and a very poor credit score. Can I still open an ISA in this financial position?
0
Comments
-
Are you are paying interest on you debts? If yes, why do you want a savings account?MSE: Repay debts or save?
0 -
I have a DMP with StepChange so no interest being charged. I am trying to negotiate a deal with them and save some money0
-
In this respect an ISA is no different from a normal savings account, but why do you want it to be ISA?
0 -
By the time someone starts a DMP all debts should have been defaulted and therefore interest stopped.grumbler said:Are you are paying interest on you debts? If yes, why do you want a savings account?MSE: Repay debts or save?🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
Balance as at 31/08/25 = £ 95,450.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
EssexHebridean said:
By the time someone starts a DMP all debts should have been defaulted and therefore interest stopped.grumbler said:Are you are paying interest on you debts? If yes, why do you want a savings account?MSE: Repay debts or save?Well, I'm no expert, but I did google before replying:Most creditors will agree to reduce or stop interest and charges, but they don’t have tohttps://www.stepchange.org/how-we-help/debt-management-plan.aspx
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards