Step change advice

Hi matt

First answer yes they do work lots of people on this forum will adhere to that , do they charge? No they don't charge neither do payplan.

Yes all your debts bar your mortgage so say unsecured debts are all put into on managble monthly payment. This being until said debt is payed so the more you pay the faster the debt disappears, this will show on your credit file 6 years starting from when the company's you owe money to agree to the plan . Bear in mind a payment schedule is not a legally binding contract like an Iva is although they do mostly agree to them , because something is better than nothing to them , before arranging one do your homework, that being work out what you can afford to pay and live comfortably so if you have to make a few bills up like say pet insurance or glasses something along them lines then do it because it just makes the payments a little easier should a emergency bill pop up that you haven't factored in to your outgoings , in a nut shell the faster you sought something out the sooner you'll be out of the financial mess you're in ,

Hope that helps and best whishes going forward

Deano

Hi Matt

I work in debt recovery and hear from stepchange a lot, they are a charity and totally free. They are great at what they do, they take your income and expenditure information and work out how much you can pay to each debtor on a pro-rata basis. If you owe a lot more to one credit card company your monthly repayments to them will be higher than a smaller credit card bill.

It's also worth noting that credit card companies are regulated by the financial conduct authority, gone are the days where they can demand excessive amounts if you simply cannot afford it. Stepchange will ensure that whatever is agreed allows you a reasonable food shop etc and not too many compromises within reason. That being said and also echoing what Dean said above, the sooner you can pay it off the better, but certainly don't put pressure on yourself in that regard.

Finally, i'm sure that stepchange will echo what i say but prioritse your priority bills (mortgage, gas, electric, council tax) not only are these the things you dont want to lose but they are also not afraid to go to court.

I hope this helps.

Kirsten x

Hi,

I use Stepchange and find they provide an excellent service.

You tell them how much and to whom. How much you earn and other outgoings.

They take a monthly DD from you and distribute it. Any threatening letters and phone calls stop plus they do leave you with money to live on.

Bal

Thankyou all. Will be on the phone to then this week. Thankyou.

All this will be in vain if you don't get to grips with your gambling though Matt! Addiction would have us believe it's the debt that 'makes' us go back to it each time but take it from me, someone who was repeatedly bailed out, that's all in our heads! Do do what you can in regards to settling your finances but don't cast aside any additional help you may need to tame the gambling beast!