Considering a DMP

MEM62

rocktron_amp said:

I am considering a Debt Management Plan

rocktron_amp said:

I want to move from Hyundai to some other manufacturer. I will give back the vehicle after the terms and go with another car maker. How will a DMP impact my credit rating and therefore affect the ability to get the new car from say Seat or Kia or whatever finance company that deals with things like that.

Presumably you are considering a DMP because you are struggling with your current debt repayments.  You then say that want to get a new car (an expensive asset with a value that falls like a stone) and borrow to finance it.  If the former is true then you really should not be considering the latter.  When struggling with your current levels of debt, more borrowing is only going to dig a deeper hole.  You have to stop digging sooner or later.    

ayupmeduck

Does the other adult not work or is this just your SOA and you pay all the bills?

Grumpelstiltskin

I don't think the OP has had their lightbulb moment yet, I think they want to reduce current debt payments so they can take on more debt, nothing we can do until they understand it doesn't work like that.