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Doing DMP Can I include Bounce back Loan?
Looking4silverlining
Posts: 97 Forumite
Can anyone tell me for sure if I can add my bounce back loan into my DMP? I am a sole trader and I took it out with Santander that holds my business account. The documentation was e mailed to me and I can't access that e mail at the moment.
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Comments
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A bounce back loan is just another unsecured, non essential debt, that you can add to a debt management plan if you wish.
The lender retains their right to take recovery or legal action, just the same as any other lender.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-letter1 -
Thank you. Im going to close this thread now so that we don't all get confused. Thanks very muchsourcrates said:A bounce back loan is just another unsecured, non essential debt, that you can add to a debt management plan if you wish.
The lender retains their right to take recovery or legal action, just the same as any other lender.0 -
You can`t, but I willLooking4silverlining said:
Thank you. Im going to close this thread now so that we don't all get confused. Thanks very muchsourcrates said:A bounce back loan is just another unsecured, non essential debt, that you can add to a debt management plan if you wish.
The lender retains their right to take recovery or legal action, just the same as any other lender.
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-letter1
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