Mortgage with DMP

[twoofus]

Hi,

 

I am after some educated views/advice around a DMP and getting a mortgage.

 

I have had a mortgage for over 13 years but unfortunately also a DMP for 8 years

 

As my DMP has been in place for this amount of time my Credit file is actually very good and completely free from anything including defaults, arrears, and any trace of any of the debt making up the DMP.

 

I have approx 2 years to go on the DMP with approx 10k outstanding.

 

My question is

what is stopping me remortgaging and buying a new house?

 

 

I've had a considerable salary increase in recent years and can afford a much bigger mortgage so would like to move house.

 

 

I accept that in some ways this also means I could pay off my DMP quicker,

but having lived with it for 8 years and suffered all the consequences on my actions relating to debt

I feel I am entitled to a bit of a break or at least to be treat 'normally'.

 

If there is nothing on my Credit file to suggest any debt,

I've actually had no defaults in over 6 years so don't have to declare it,

and there doesn't seem to be a question on the mortgage application forms that ask if you have a DMP so again I wouldn't be disclosing it.

 

Any mortgage experts have a view or any advice

 

Thanks

[dx100uk]

you are 100% correct.

 

 

whos the DMP with

and who are getting paid through it?

 

 

if the debts are with DCA's

and you never sent things like CCA request to each one

or ever looked at reclaiming stuff like PPI etc

you could well be quids in after reclaiming

and lose many of your debts to if they prove unenforceable.

 

 

let go see if you old threads give any clues.

 

 

dx

[twoofus]

The DMP is through CCCS, and I have about 5 creditors left.

 

Never looked into PPI and don't know what you mean about CCA!!

 

I just wondered if there are any stories of people getting mortgages with a DMP in place where there credit history is clear

 

Thanks

[dx100uk]

yes

whats not showing you don't tell them about mortgage wise.

 

 

CCa request

 

 

blindly paying a creditor could be seen as being cash cowed

who says you owe the debts anyway?

are they all with DCA's now?

 

 

the CCA request should tell you if you have PPI to reclaim?

 

 

can you list those paid through your DMP please?

[twoofus]

Hi,

 

Sorry I'm a bit slow on picking all this up as it's a long time since I even considered applying for credit and yes I have been blindly paying creditors through my DMP but what else could I do?

 

I guess my moral view is I initially took debt on then couldn't pay it so I went on a DMP all interest was frozen and I paid an affordable amount. My debts are all now with different companies to which they started so if thats what you mean by DCA then yes that's who they are with.

 

I will start to look at the PPI stuff but at the moment I just want some support on martgages and any positive experiences of those in my position.

 

I would also like anyone 'in the know' about the mortgage approval process to tell me what will happen as part of that process and where if anywhere my DMP may be highlighted.

 

List of original creditors and who I now pay (Still Outstanding):

 

Yorkshire Bank - Apex Credit Management (£5800 outstanding)

MBNA Ltd - Moorcroft Debt Recovery (£1750)

BOS Credit cards - Lloyds Bank (£960)

First Direct - NCO Cabot (£650)

Yorkshire Bank Card Service - Apex Credit Management (£350)

Egg Card - Link Financial Outsourcing (£290)

Argos Card - Lowell Financial (£250)

Capital One - Capital One (£120)

 

Creditors now cleared through DMP:

Yorkshire Bank (BC) - Apex

Shop Direct - Debt managers Ltd

Next Directory - Moorcroft

First Direct - Moorgate Loan Servicing

NCO Shop Direct - NCO Cabot

YB PLC - Yorkshire Bank

 

Thanks

[dx100uk]

Yorkshire Bank - Apex Credit Management (£5800 outstanding) - apex don't buy debts - who are their clients.

MBNA Ltd - Moorcroft Debt Recovery (£1750) - moorcroft don't buy debts - who are their clients.

BOS Credit cards - Lloyds Bank (£960) - send a CCA Request

First Direct - NCO Cabot (£650) - CCA Request

Yorkshire Bank Card Service - Apex Credit Management (£350) - apex don't buy debts - who are their clients.

Egg Card - Link Financial Outsourcing (£290) - CCA Request

Argos Card - Lowell Financial (£250)- send a CCA Request

Capital One - Capital One (£120)CCA Request

 

 

throw the morality card out the windows

those debts that are not still being paid directly by you to the original creditors have been most probably sold to DCA's

so why sell a debt on...probably because the balance is mostly penalty charges and PPI etc all reclaimable - you don't owe all the money they claim

 

as for the mortgage

what is not showing on your credit file

you don't tell them about

you are under no obligation to tell them about any DMP you are in

 

but looking at your debts and whom you pay

to me 80% of them are being paid to DCA's = most probably being cash cowed.

 

use our search CAG box of the red top toolbar

and type in cash cow and get reading

you'll soon get the idea

[twoofus]

Not sure what you mean by they don't buy debt who are their clients?

 

Are you saying that I should put a claim in against all the creditors for PPI and for all of the debts sold on I should request the CCA?

 

With the CCA is this so that if they cant provide it they cant enforce the debt?

 

Thanks

[dx100uk]

Not sure what you mean by they don't buy debt who are their clients?

Moorcroft and apex see their letters

 

Are you saying that I should put a claim in against all the creditors for PPI

- no await cca return

 

and for all of the debts sold on I should request the CCA? Yes ASAP

 

With the CCA is this so that if they cant provide it they cant enforce the debt?

Correct

Thanks

 

Not all DCA's buy [own] debts

Some only chase for their client [the debt owner usually the original creditor]

[twoofus]

Hi,

 

Moorcroft are acting for MBNA and Apex for Yorkshire Bank.

 

I guess the debt is still with the initial creditors then and these DCA's are just pursuing it for them but what difference does this make to me in regards the DMP?

 

Also have you heard of anyone getting a mortgage whilst on a DMP

 

Thanks

[dx100uk]

Hi,

 

Moorcroft are acting for MBNA and Apex for Yorkshire Bank.

 

I guess the debt is still with the initial creditors then and these DCA's are just pursuing it for them

but what difference does this make to me in regards the DMP? none

Also have you heard of anyone getting a mortgage whilst on a DMP

 

Thanks

 

 

I've answered that question in every one of my posts already.