Getting a loan while in DMP
Posted 07 October 2010 - 10:08 PM
Posted 11 October 2010 - 11:42 PM
1- some of the creditors you include in the DMP may balk at keeping you in if you borrow additional money, and
2- lenders may not want to write you a loan while you are in a DMP. Or may charge you considerably higher rates.
If your credit is clean enough right now to qualify for the car, I'd consider doing that before enrolling in the DMP.
Posted 02 November 2010 - 01:39 AM
My CCCS agreement said no new loans, or no new cards during the program. Read your fine print - it may not just be your current card companies that may balk at you applying for new credit unless there is a dire emergency that you can explain.
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