Can't decide if a DMP is good for me right now or not

userwasabouttodmp

So, long story short, I've never missed a payment, which I believe is holding my poor credit score together. Now, my minimum payments each month break me (£500). My total income is 1700, but my partner only gets 500 from universal credit as we are currently living at home with my parents. We do however pay 500 rent to them. 

We are being made homeless (as of late March) and need to find somewhere quickly. Obviously we will get more universal credit help when we do officialy pay rent. My payments to creditors however needs to reduce for us to be able to afford this. 

My question is, are we better off with a bad credit record and less money, or a DMP that will more than likely default a card and loan I have?

MFWannabe

This needs moving to the Debt Free Wannabe page 

peb

@enthusiasticsaver not sure if main DFW page or a housing page?

enthusiasticsaver

I think it needs to stay on DFW page. 

enthusiasticsaver

Have you approached any rental agencies? You need to prioritise housing costs over unsecured debt so I would sort this sooner rather than later while your credit score is still ok. It takes time for defaults to show on your record. Can you both save as much as possible to get a deposit together and maybe miss a £500 payment to your parents to get the deposit together? They will do a credit check. Your boyfriend needs to prioritise getting a job, any job in the meantime to get some cash in. Can you sell anything to raise money? 

enthusiasticsaver

I have asked this to be moved to the main DFW page.