Stepchange Debt Management Plan

For anyone considering using Stepchange to manage their debts this is my story with them

Over the years I have racked up over £27K on 4 credit cards, 3 of which were interest free and 1 was a low interest rate but it all come to a head in July as 1 of the interest free cards was expiring and I didn't have the money to pay it off so I contaced them to see if they would extend the interest free period. They advised they could give me 30 days breathing space and to contact Stepchange.

I went on Stepchange website and input my income and expenditure so they could work out my monthly payment, then I contacted the other 3 cards telling them I was in trouble and was working with Stepchange. They were all amazing and said I had done the right thing and would have recommended Stepchange to me.

Within 2 weeks I had agreed a plan with Stepchange and will be making my first payment to them in  September which they will allocate between my cards. All the cards have agreed to accept the payments and no interest will be added while my DMP is in place which take a lot of stress out of dealing with this debt.

It will take a long time to pay off this debt and will affect my credit score, but this was shot to pieces anyway. My plan will be reviewed next year to make sure I can still afford the payments and any extra money I may recieve will go to repaying.

Having this in place makes my life a whole lot less stressful thinking about each individual card and when it has to be paid by and I would recommend looking into doing the same if you have any unsecured debts.

Thanks for reading and hope it helps someone