Just a quick dmp question..

TeetersOnHeels

Hi All..
Have been trimming, and cutting down for a few months now, but in July the interest on my MBNA card will be going up to 29% from 0% and I know I won't be able to make the payments. Have tried getting 2 0% balance transfer cards, but been unsuccessful. Have done the CCCS debt remedy thing online and it recommended a DMP. My question is, my mortgage is on a fixed deal til July 09, will my current lender still be prepared to be my mortgage provider or will I have to look elsewhere? Has anyone else had this problem or am I just worrying unneccessarily?
Thanks!

hooby_groovy

Hi

Your DMP won't affect your current mortgage as long as you are making the monthly repayment and are not in arrears.

The mortgage, or any secured loans, won't be included in the DMP

However, your credit record will be damaged by going on a DMP as in my experience MBNA will default your account which will stay on your credit file for 6 years, this will affect your ability to swap mortgage providers from 2009.

carlos700

Hi i was interseted to know this to i am about to start a DMP and my fixed rate morgage it with be ending next year i usually stay with the same provider but swap deals i am wondering will my present provider still allow me to do this ?

churchrat

hi
we run are own DMP and have a mortgage with c&g. although we have not missed patyments on the mortgage for several yrs we are not able to swap to a different company or take out a lower deal with c&g. I would be interested if you amange to find a better deal
keep posting!

TeetersOnHeels

Have just been on the DMP support thread, and it seems Rayday has managed to get a reasonable deal on a mortgage, which makes me a little less worried about starting my DMP.....:j