Has anyone been able to remortgage within a DMP? My fix term ends in 4 years and I’m really stressing 
my DMP won’t end for 9 years at the rate I’m paying it off..
my DMP won’t end for 9 years at the rate I’m paying it off..
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11 days ago i found this thread. My dmp has been confirmed this morning and my head feels light!!! Thank you for sharing, and anyone struggling....please contact them, the relief is something else
Yes I have managed to get a mortgage with a DMP. You will need a specialist lender if it’s still active. I’d contact a broker who is experienced with bad credit. Depends what the SVR is on your current mortgage as to whether it’s worth going into that or remortgaging so you can see nearer the time but you should have a range of options.Has anyone been able to remortgage within a DMP? My fix term ends in 4 years and I’m really stressing
Hi everyone, I wrote on here a little while back but still haven't actually taken any steps towards dealing with my debt 
I have so much fear, about everything, the overwhelm is paralysing.
I've just turned 31 and feel like such a failure, I know things need to change but it's so hard knowing where to start and I feel so alone. My relationship ended 6 months ago, I hate my job, rent a flat that doesn't feel like home and my 0% periods have ended on all my credit cards. The interest has made me realise just how out of control it is, and that I've been reliant on credit for too long.
I really want to move, but rental prices have increased so much plus I don't even have a deposit built up at the moment. I've even realised I may have to consider a shared property, as I don't have the option of moving back "home" (complicated family!), but that has it's own challenges.
Every possible option feels terrifying, that I'll make the wrong choice. Doing nothing can't be an option, I can't keep on like this. But if I enter a plan of some sort, how will it affect my living arrangements? Will I be stuck here? Would I need to tell my landlord? What about work? I'm a civil servant (v. low level, definitely not who horrible headlines are aimed at
) but can poor credit affect that? I have no hope of buying a house in the imaginable future so that's not a worry, though what's if I somehow manage to have a relationship, would any decisions I take now negatively impact them?
Yep I know it's weird I'm concerned about someone who doesn't exist and may never exist, but this is where my mind goes. Overthinking, catastrophising, getting myself worked up.
Sorry for the super long post, once I started typing more has come up, but maybe just putting it out there will mean I can breathe a little easier, maybe even sleep tonight?
I have so much fear, about everything, the overwhelm is paralysing. I've just turned 31 and feel like such a failure, I know things need to change but it's so hard knowing where to start and I feel so alone. My relationship ended 6 months ago, I hate my job, rent a flat that doesn't feel like home and my 0% periods have ended on all my credit cards. The interest has made me realise just how out of control it is, and that I've been reliant on credit for too long.
I really want to move, but rental prices have increased so much plus I don't even have a deposit built up at the moment. I've even realised I may have to consider a shared property, as I don't have the option of moving back "home" (complicated family!), but that has it's own challenges.
Every possible option feels terrifying, that I'll make the wrong choice. Doing nothing can't be an option, I can't keep on like this. But if I enter a plan of some sort, how will it affect my living arrangements? Will I be stuck here? Would I need to tell my landlord? What about work? I'm a civil servant (v. low level, definitely not who horrible headlines are aimed at
) but can poor credit affect that? I have no hope of buying a house in the imaginable future so that's not a worry, though what's if I somehow manage to have a relationship, would any decisions I take now negatively impact them?Yep I know it's weird I'm concerned about someone who doesn't exist and may never exist, but this is where my mind goes. Overthinking, catastrophising, getting myself worked up.
Sorry for the super long post, once I started typing more has come up, but maybe just putting it out there will mean I can breathe a little easier, maybe even sleep tonight?
Hi, I entered a debt management a few years ago which is luckily now paid off and it was the best thing I ever did. Your existing landlord doesn't need to know, nor does your job. A new landlord may see it on a credit check however I had no problems in moving whilst I was in a debt management. I was just honest, I'd never missed a payment while I was in my debt management, I was working so I felt like it didn't really effect me. I went through stepchange and they were amazing, don't use a company that charges a fee. Just pick up the phone and ring them, I promise you'll feel so much better.Hi everyone, I wrote on here a little while back but still haven't actually taken any steps towards dealing with my debt
I've just turned 31 and feel like such a failure, I know things need to change but it's so hard knowing where to start and I feel so alone. My relationship ended 6 months ago, I hate my job, rent a flat that doesn't feel like home and my 0% periods have ended on all my credit cards. The interest has made me realise just how out of control it is, and that I've been reliant on credit for too long.
I really want to move, but rental prices have increased so much plus I don't even have a deposit built up at the moment. I've even realised I may have to consider a shared property, as I don't have the option of moving back "home" (complicated family!), but that has it's own challenges.
Every possible option feels terrifying, that I'll make the wrong choice. Doing nothing can't be an option, I can't keep on like this. But if I enter a plan of some sort, how will it affect my living arrangements? Will I be stuck here? Would I need to tell my landlord? What about work? I'm a civil servant (v. low level, definitely not who horrible headlines are aimed at
Yep I know it's weird I'm concerned about someone who doesn't exist and may never exist, but this is where my mind goes. Overthinking, catastrophising, getting myself worked up.
Sorry for the super long post, once I started typing more has come up, but maybe just putting it out there will mean I can breathe a little easier, maybe even sleep tonight?
Totally agree with this - it makes everything more manageable
Thank you so much for sharing your experiences, I really appreciate it. Going to sit down and work out exactly what I owe this evening and then make the call!
Stepchange also have a tool on their website that you can use before calling them, they'll ask a few questions and they'll advise what situation is best for you based on your circumstances, it will save on your account so when you call them, you don't have to answer the questions again.
Hi. I know this thread hasn’t been active in a while but I’m really hoping I get a response.
My sister and her husband, have managed to get themselves into nearly 1 million (yes 1 million pounds) worth of debt.
It sounds unbelievable - but they have. And £650k of that is on personal guarantees against their house (that her husband managed to sign without needing her signature- so she says to me). Long story short, they had a limited business, were not paid by their client for a number of weeks, and the husband made the absolutely catastrophic decision of raiding their savings/taking out more and more loans and allowing his contractors to work without being paid (on the promise the money would come good and he would pay people).
my sister is complicit in not stopping him and continuing to spend outside of their means (I mean really OTT spending).
they have been told by their privately hired debt consultant person that the best Thing for him to now do is declare bankruptcy. But he is refusing to- telling my sister he will apply for an IVA. Has anyone got any advice for me to support her? I’ve never known anything like it and am so worried for her even though this mess is collectively of their own making. Please help if you can!
My sister and her husband, have managed to get themselves into nearly 1 million (yes 1 million pounds) worth of debt.
It sounds unbelievable - but they have. And £650k of that is on personal guarantees against their house (that her husband managed to sign without needing her signature- so she says to me). Long story short, they had a limited business, were not paid by their client for a number of weeks, and the husband made the absolutely catastrophic decision of raiding their savings/taking out more and more loans and allowing his contractors to work without being paid (on the promise the money would come good and he would pay people).
my sister is complicit in not stopping him and continuing to spend outside of their means (I mean really OTT spending).
they have been told by their privately hired debt consultant person that the best Thing for him to now do is declare bankruptcy. But he is refusing to- telling my sister he will apply for an IVA. Has anyone got any advice for me to support her? I’ve never known anything like it and am so worried for her even though this mess is collectively of their own making. Please help if you can!
Wow what a mess. My aunt and uncle went through this, though not for anywhere near this amount. Sadly he did a similar thing and it ended in bankruptcy and divorce.
While bankruptcy isn’t ideal it will stop them coming for the debt, can they sell the house and move? It sounds like neither are willing to take advice, even from professionals, so I think all you can do is be an ear and remind her you are there for her. Their advisor is the best person to give advice, but until they are willing to listen all advice will fall on deaf ears.
Thanks for your reply @JoeBloggs
i can’t quite fathom the amount of money there is. £650k of this I know is on PG. it’s about the same value of their house and their mortgage is £427 so they have roughly around £100k equity each. Do you think they’ll be made to sell the house even though the debt is in his name? (Joint House and mortgage).
I think ultimately, you have hit the nail on the head. Neither of them are prepared to listen. I was contemplating calling a debt line to see if i can get some advise on their behalf but not sure they’ll even discuss it with me- or if my sister would even listen. I don’t think they get the level of debt they’re in. Im wondering if they will get stuff removed from their house and how quick it will happen. They’ve just had a CCJ listed against their business. I’m honestly having nightmares about it.
i can’t quite fathom the amount of money there is. £650k of this I know is on PG. it’s about the same value of their house and their mortgage is £427 so they have roughly around £100k equity each. Do you think they’ll be made to sell the house even though the debt is in his name? (Joint House and mortgage).
I think ultimately, you have hit the nail on the head. Neither of them are prepared to listen. I was contemplating calling a debt line to see if i can get some advise on their behalf but not sure they’ll even discuss it with me- or if my sister would even listen. I don’t think they get the level of debt they’re in. Im wondering if they will get stuff removed from their house and how quick it will happen. They’ve just had a CCJ listed against their business. I’m honestly having nightmares about it.
They probably are best to file for bankruptcy if the equity in the house won’t cover the debt etc. that’s a nightmare but can happen easily! I’m not sure an IVA would be suitable if unlikely they can repay the debts owed at this stage
As a married couple you are jointly connected and therefore liable. They may not be forced to sell but it could have a charge placed which mean if they do they will lose the cash.
Things don’t move that fast as there are processes but the repossession of goods doesn’t drum up much cash.
I think you need to step away, this isn’t your problem nor your mess to sort. Be there for them but sadly adults have to learn lessons and this will be a very big on. They have an advisor and they need to listen to them.
Yes I was thinking that no one would accept him for an IVA given that amount of debt. He’ll never be able to pay it back. I’m so worried she’s going to lose her house but she keeps telling me she’s just a year to buy him out before they can force her to move…. I’m not sure that’s right and how she can be so certain!
As the debts been taken out against the house, how does she plan buying him out. The house is the collateral if he can’t pay.
Sadly I think she’s delusional. It must be a big shock and be prepared for the reality to hit for her.
I think you’re right @JoeBloggs - I think she is delusional. She’s saying that there is 200k equity in the house, half and half, and that they can’t touch her part. I’m not sure on that- the debt is in his name but he has Pg’d it against their house. How he’s done that without her signing anything I don’t know.
so she seems to think if they can’t touch her part of the equity, then they’ll give her 12 months to raise the other half to buy him out. He’s run hundreds of thousands up on Amex cards and loans.
i know it’s not my problem and I shouldn’t concern myself with it as I am. I think ultimately, you’re right- neither of them facing reality and think this isn’t as bad as it is
so she seems to think if they can’t touch her part of the equity, then they’ll give her 12 months to raise the other half to buy him out. He’s run hundreds of thousands up on Amex cards and loans.
i know it’s not my problem and I shouldn’t concern myself with it as I am. I think ultimately, you’re right- neither of them facing reality and think this isn’t as bad as it is
I would have thought if she is a on the house deeds she would have to sign in order for him to be granted personal guarantee against the property but perhaps she isn’t on the deeds and doesn’t realise?either way they would have to sell the house and pay debts or she would have to pay debts personally and keep house I would have thought although if she speaks to citizens advice bureau they are really helpful and deal with this kind of thing daily just probably not to the same degree if debt!
That’s interesting @Fintonagirl - I wonder if she is actually on the deeds. I did wonder how anyone could sign a guarantee against a house that someone else lives in without their consent. She said she didn’t ever sign any personal guarantees (and seemed to think it was more £400k not £600k - not that that’s any better) so who knows.
i might try and call CAB anyway just so I can understand the process more with the information I know - if they can help me. I’m dreaming about her having her house repossessed! Every debt chat room I have visited talks about debts in the thousands but not so much in the hundreds of thousands!
i might try and call CAB anyway just so I can understand the process more with the information I know - if they can help me. I’m dreaming about her having her house repossessed! Every debt chat room I have visited talks about debts in the thousands but not so much in the hundreds of thousands!
CAB really helped me when I had problems - they are really good! Hope you get sorted 