Anyone using them? I am looking to consolidate everything and really spread it out over a longer period.
Are there any obvious downsides to it???
Hi,
I am with them and the only downside for me is the length of time it takes to clear everything.
Plus its always a bit disheartening when the monthly DD gets paid to them. But that probably mixed in with guilt and remorse.
On the positive side I get no letters or phone calls from creditors and I know that the debts will be paid and when done I will have a new pot of money to spend on me and my wife (not the FOBT).
Best wishes
Can I ask the simple question of how much you owed and how much you pay?? Do you get a choice of payment amount and terms?
Hi Not used Step Change, on my own DMP, but any DMP is worth it for the peace of mind knowing that we are in control of our debt, don't pay back more than you can afford, otherwise you will still stress about it, I pay a pittance every month, but I am fine with that, it's sorted out and I don't worry too much about it now. it will get paid off be it slowly but surely, and as B says no letters or phone calls, and no juggling.
The only down side is our credit score, but we don't want more credit, lol, but I have noticed my score slowly going up every month so that's positive.
Suzanne xx
Suzanne, which company have you used?
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Not sure about negotiating as OH dealt with all that.
Which company was it Suzanne?
No company I did my own DMP and told each creditor I was doing that x
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where did you get template letters from?
Didn't took some very deep breaths and did one a day, not nice, but after the first 2 it got easier, and the relief afterwards x
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Hi Thegerman
I am currently with Payplan who is another free company like Stepchange. I set it up last year and mine is due to finish in August this year. I was in about £11k of debt but I pay a lot into it due to having a good income and not a huge amount of outgoings. I have not given partners income and expenditure as we are not married and due to my credit rating we have kept finances separate.
They are really good and take everything into account such as bills, daily living, children, hairdressers etc etc and whatever you have left out of your money each month they will set that as your monthly payment. You do have to get all account numbers and amount outstanding but like me who has God knows how many payday loans etc did get all the info.
My father has been with Payplan for about 4 years, had bigger debts than myself due to loss of his business but a lot smaller income. His finished in December and is now debt free.
I would highly recommend them.
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