DMP - Scared about the future.

Squiggles2312

Hi all,

I have read many forums and wondered if I could ask some of you for advice.

I started dating someone from work at the beginning of the year (we have been friends a long while before) just as I entered a DMP. He doesn't know about my debt or my DMP (I didn't feel the need to tell him so early on).

I was renting a flat by myself, paying off my DMP and for the first time in years...happy!

My landlord dropped a bombshell last week that he wants to sell....I have contacted some estate
 agents in my area, who have said they wont even look at my application because I'm in a DMP.

My partner then suggested his rental is expiring this year, so why don't we move in together and rent before one day buying!

1. I don't know what to do about my rental situation. Has anyone got any advise when it comes to renting with a DMP.
2. I know I need to come clean and tell him about my DMP situation, as I have another 2 years left to pay. But selfishly scared he will walk away from me when he does know. 

Thanks all x

Grumpelstiltskin

Firstly just because your landlord wants to sell you don't have to move out when he wants.

Go on to the House Buying, Selling and Renting board for advice.

Secondly you should tell your boyfriend, if he leaves then he wasn't worth being involved with, you need to start your life together telling the truth.

Squiggles2312

Thank you for your response @Grumpelstiltskin!

sourcrates

Hope your DMP is a free one.

RAS

How come the EA knew about your DMP? This is an informal arrangement and doesn't show up on credit checks.

stu12345_2

good question cos a dmp isn't on your credit report,  you would worry more about ccj. and bankruptcy reports on credit file .

did you tell EA you had a dmp.

on a side note  I had an old girlfriend of mines about 17 years ago, I had a protected trust deed in Scotland, like an English IVA and I only had £15 allowance to spend at weekend at nightclubs etc , my leisure limit.

she asked why I only spend £15 max, I told her about my trust deed, anyway we split 3 months later, think she was after a solvent big spender boyfriend.

Rob5342

According to Stepchange letting agents can only see public records like ccjs and bankruptcy but defaults or details of your debts. Did they ask if you were on a dmp or did you tell them? 

It's only fair to tell him aboit the dmp as he'll be taking a financial risk moving in with you. Explain the dmp to him and when it will be paid off, then you both know where you stand and if you can make it work. Every relationship has difficulties to work through at some point. 

fatbelly

RAS said:

How come the EA knew about your DMP? This is an informal arrangement and doesn't show up on credit checks.

We've had a few posts like that recently, some on the housing board.

People seem to think they have to declare this.

Estate agents believe it's fatal to a creditcheck.

Of course, both beliefs are false.

sourcrates

Yep, only insolvency or bankruptcy will show on a credit check.

Debt management does not have to be declared.

sparks_2023

sourcrates said:

Yep, only insolvency or bankruptcy will show on a credit check.

Debt management does not have to be declared.

Just to clarify are you saying that on a rental credit check then defaults do not show ?

Sly72

Defaults will always show on your credit report for 6yrs from the date the debt was defaulted.