Newbie -help with my dmp and debts

damian24

Hi all, not really new to the site but new to posting, anyway just wanted some help with my dmp, about 6 months ago i arranged a dmp with payplan on debts of about 25k, i had to leave my job due to serious knee injury which caused me to become classed with 17% disablity and ad no income other than benefits. the knee pain etc made me go on pain killers and depression medication to help me sleep etc and basicaly the last 12 months for me have been a bit of a blur, anyway im better now and will be starting a new job within 6 weeks, which is fairly well paid, but i need a car for the job, my two questions are 1- is it possible to get car finance whilst on a dmp and 2 will my credit rating improve and if so what time frame, im starting my own challenge to try payoff my debts within 3 years so when could expect to have a good credit rating, i dont think i have any ccjs or defaults although i didnt speak directly with my creditors due to my medication etc, i just left it with payplan to deal with, i know the creditors will be annoyed but do you think if i told them my situation woiuld they have any leniency and forgiveness and help me repair my credit- good luck to everyone on here you are all my inspiration and i would be willing to give anyone any advice onarranging a dmp etc. thanks in advance

locutus2003

Bumping for you - sorry I can't offer advice but hopefully if this gets back on the front page again someone else more experienced will be able to help!

Good luck

rayday2

Best thing you can do is to check your credit history and see what is on there. If there are any defaults or late payments it will take 6 years for them to disappear off your history.

You should know about CCJ but again they will be recorded if not. I use Checkmyfile.co.uk which shows all 3 of the agencies and I went through Quidco and got a little of the cash back its about £15 a quarter if you want to longterm keep an eye on your history.

CCCS_Sarah

Hi Damian,

As rayday mentioned it usually takes about 6 years for everything to clear off your credit file. I have attached a link to a booklet that explains a bit about credit files, have a look over you might find the information useful.

Credit Explained Booklet

You need to really ask yourself a couple of questions about buying a car on HP, is this essential? No other way of getting about? If there is no other way round it you would need to talk to Payplan and ask what there views are. Buying a car on HP would increase the length of the DMP as the car would need to be treated as a priority, this would mean less money going towards your creditors.


If you need anything else give me a shout

damian24

thankyou for your responses il look into them now

take care guys