DMP and Mortgages

[cathwyn]

Hiya, Im new so sorry if have posted this in the wrong place.

 

 

I am on a DMP with CCCS and have been for almost 7 years.

2 pregnancies also which meant reduced payments for a year and a half, so still have a long way to go.

 

My experian credit report is very good, no defaults.

 

Car finance shows 2011 payment not received for 1 month, then balance settled month after.

Unsure why they classed as missed payment because it was all agreed with the company before that payment had been due.

Egg shows as settled, no missed payments, but am still paying them although now through Barclaycard.

 

Noddle report not v good. 1 out of 5. Default with Arrow, dated 29.06.07 re MBNA cr card.

So due to drop off end of the month, although I am still paying them.

Previous car finance showing same as experian.

Closed account with MBNA which went to Arrow, shows default.

Egg showing again as no missed payments and account closed.

 

Equifax shows the same accounts as above. No credit score as have to pay for that.

 

I am also paying CL finance (HSBC) which isnt showing and RBS Tesco which isnt showing. (fallen off?)

 

My main question is could I apply for a mortgage once the default falls off? If so would I be asked/or have to say that Im on a DMP?

 

If it was just me and my husband we would just carry on renting.

But my oldest boy is Autistic and I think better to move now as he doesnt like unfamiliar places.

He knows the way home now from school and anything different he goes crazy. Older he gets, it could get worse.

 

I know we can afford it as it would work out a lot less than what we are paying for rent.

Weve both worked since school and if the worst happened would take any job to make ends meet.

.although I do know it isnt as easy to get a job as it used to be.

 

Please can I have some advice?

 

Thank you.

 

Cath.

[sequenci]

Hi Cath, you won't need to tell your lender that you're on a DMP - but they'll likely want to know how much you owe - and how much you pay each month to those creditors.

 

Don't worry about Noddle, it's not very widely used by lenders. Experian and Equifax are the main players.

[cathwyn]

Hiya Sequenci,

 

Thanks for the quick reply.

 

Egg shows as settled in 2008 and no balance (although has gone to barclaycard which isnt on the reports).

 

Arrow Global is the only other one showing as open but will drop off end of June.

 

MBNA shows as closed but default on June 2007 so that should also drop off.

 

None of the others are showing(CL Finance and Tesco). So I wouldnt have to mention those?

 

Although I have only the one account with a payment going to CCCS on it. Hmmm.

[sequenci]

You'll only need to mention the creditors that you actually owe money to. Do be mindful that you *must* be truthful with the information listed on the application. A credit file doesn't always hold all of the information about one's situation - it isn't a statutory requirement for a creditor to even place information on them!

[BRIGADIER2JCS]

Approval of a mortgage application will much depend on income, and a credit profile showing active and well managed credit accounts, having to little data on file is has as much impact as adverse data because prospective lenders have nothing to assess you on.

[dx100uk]

have you ever sent these dca's you are paying these debts too a CCA request?

 

dx

[cathwyn]

I know, thats why I wanted to ask. Never had a mortgage before so wasnt sure what exactly they asked. Ill have to see if I can find a sympathetic bank!

 

Thank you so much.

[cathwyn]

Brigadier, Hi.

 

I have a current account showing as good and up to date etc. My husband had a mobile phone on contract for me (needed as pregnant last year and with my autistic son). Ending end of June. I can try for a contract in my name then and possibly upgrade to normal current account (instead of basic, but no o/d though).

 

dx, No I know have read about that on other threads but I dont know. Will it just make more trouble for me? Most of my cards/loans were opened late 90s so not sure where I would stand. I dont mind paying them as I did run up the debt, but I do feel angry that they wouldnt help me when I asked them for help.

 

Another thing which wont help Mortgage situation is that we took a car out on finance. My son started receiving mobility and we thought would get a car but pay it off with the money rather than hire on the motability. If his walking improves we would stop getting the money but would still need a car. We thought we were doing the best thing for him and the finance guy advised it wouldnt affect the mortgage, we have since learnt otherwise..I have sent off PPI claims though?

 

Think we might have to concentrate on getting rid of car finance and debts first..(although the house we like is fabulous and suited to us all ))

 

Sorry Im pouting now.

[BRIGADIER2JCS]

Hi cathwyn,

I think you are doing the right thing, get the PPI sorted and the car finance.

 

The greatest draw back on mortgage finance even subprime lenders are looking at

far longer periods of good++ credit management often 2-3 years longer than the usual

3 years.

 

A failed application now would I think cause problems for the future.

[dx100uk]

dx, No I know have read about that on other threads but I dont know. Will it just make more trouble for me? Most of my cards/loans were opened late 90s so not sure where I would stand. I dont mind paying them as I did run up the debt, but I do feel angry that they wouldnt help me when I asked them for help.

 

I question the logic of paying a debt, not showing anywhere on any cra file, that you have not sent for a CCA request upon

 

I have no wish to put down any free dmp charity, but, they never do any checks

 

dx

[cathwyn]

Thanks Brigadier.

 

Its not what I wanted to hear but I did know that would be the answer..Thanks to all of you for your time and advice

 

Anyone with a magic wand, Id appreciate a few numbers on the lottery this weekend ;-).. lol..wouldnt we all!

 

Cath

[BRIGADIER2JCS]

Thanks Brigadier.

 

Its not what I wanted to hear but I did know that would be the answer..Thanks to all of you for your time and advice

 

Anyone with a magic wand, Id appreciate a few numbers on the lottery this weekend ;-).. lol..wouldnt we all!

 

Cath

Sorry we cannot offer more advantageous advice cath, good luck and best wishes for the future!

 

Brig.

[cathwyn]

dx, so if I just use one of the letters ive seen on this forum and a £1,00 blank Postal Order with payment copy CCA only on back of it?

 

To the original debtors or DCA? only to the ones not on credit report? could the ones not on credit report get funny and put a report on?

 

Sorry for blunt questions, typing one handed holding the baby!!

 

Thank you for help

[BRIGADIER2JCS]

CCA request letter in the CAG library, PO for £1 marked for statutory fee only the DCA has 12+2 working days to comply.

[cathwyn]

Thanks, will try and sort that out tomorrow then

 

Cath

[dx100uk]

adapt the following text to YOUR details.

DO NOT SIGN THE LETTER!

get a £1 BLANK Postal order

write on the back

for statutory £1 CCA FEE ONLY.

post the two off by !st class post, get proof of posting from PO counter

they have 12+2 WORKING days to comply.

 

firm demanding money

 

street,

 

town,

 

county

 

postcode

 

 

 

Dear Sir/Madam

 

 

 

Re:- Account/Reference Number 12345678

 

I do not acknowledge any debt with your Company or Associates

 

This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreement relating to the above account, together with any other documentation the Act requires you to provide, including a detailed statement of the account.

 

 

 

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.

 

 

 

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

 

 

 

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection From Unfair Trading Regulations 2008 (CPUTR).

 

 

 

I enclose a postal order in the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

 

 

 

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

 

 

 

We look forward to hearing from you.

 

 

 

Yours faithfully

 

Mr A N Other

[cathwyn]

To all the ones I owe money to or just the ones not showing on credit report? though they might have dropped off...does it matter about a default with them? does that prove the debt?

 

Thanks.

[dx100uk]

whomever you wish

just remember that mobile phone debts & bank accounts are not covered by the CCA act.

 

as for defaults. makes no odds.

if whomever you are paying or are trying to spoof you into paying

does not have an ENFORCEABLE CCA, you should not be paying them!

 

might be an idea to start a thread for each of your debts...

 

dx

[cathwyn]

Ok, thanks. Will try and sort tomorrow or weekend.

 

Thanks everyone.

[sequenci]

bank accounts are not covered by the CCA act.

 

 

Bank accounts are regulated, they are just exempt from Part V of the act - this covers the form and content of the agreement. A CCA request should still allow for a statement of account and suchlike to be sent - just no credit agreement.

[dx100uk]

yea save the £1 for the sar that will be needed.

 

dx