DMP with Stepchange

Hi Thegerman, I have deleted some of my posts to you, but am sure you have read them and have taken what you want from the info:)) and I hope it helped, to see different options, gives you a better choice for what will suit you.

Feel free if you have any more questions I will be happy to answer 🙂 I have deleted certain posts because as you know I always keep one step ahead lol, and leaving them on made me feel somewhat vulnerable:)))

Suzanne xx

Hi Thegerman.

The Citizens Advice Bureau are very helpful even if you just want to chat and consider your options. I used them but just had one creditor

The thing you must avoid are companies that charge too much for their debt management services

Its a great idea to get on a plan of action though and I will let others tell you about their experiences. You can only pay back what you can afford after normal living expenses.

Gamble free and a good plan of action is the way

All the best

Thank you everyone for your contributions. Really appreciate it!!

Hey.

I have been on a DMP for a year now with Stepchange. I have to admit, it has been a reflief. Yes, my credit is shot - but nevertheless, i couldnt afford not to be on one. I still call my creditors every few months, and find them to be pretty ok about things really. Some even asked why I went through Stepchange and advised I could just deal with them direct.

I had c£40k of debt, and am paying back just over £735 a month and it will take another 3 1/2 years to get it fully paid off.

The "good" thing about it, as long as you have been completly honest, is that you shouldnt really have any spare cash to gamble with anyway. The bad thing - you have no spare cash!! So as long as you are commited, then it shouldnt be an issue to stick with it and clear your debts.

My advice would be to make sure you keep some spare money available each month for emergencies, especially if the DMP is going to be for a long period. You could give it to someone else to mind for you if you can't trust yourself. You never know whats round the corner.

I'm hoping not to take this route but it is an option in future! The big thing for me is budget and aim for profit each month. Thanks everyone for your help and advice!!!