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i Have to say i have been reading these Step change bashing threads in the last couple of weeks and a couple of things strike me.

No one is forced to go with Step change, someone has to fund them somewhere, so if by the creditors funding them it makes them easier for me to deal with so be it i personally can live with that, it means i pay 1 dd to one place rather than having to mess about with DD to 9 different places.

Its your debt if your creditors don't stop interest its up to you to fight for it, after all you were big enough to get into debt in the first place, you can be big enough to sort it out.

So what if it takes 7 years to pay off through DMP at least when its finished all of it will ALL be paid off, after all i spent the money in the first place , and its a damn sight sooner than the 30 + years it would have taken to pay it off carrying on as i was.

To be honest the things that have popped up seem to be (to me anyway) from people who haven't managed to get what they want, if you want an IVA so be it, personally i am of the opinion that i used the money in the first place and from a moral point of view i want to pay it all off, Step change are just acting as a middle man for me on what is a pretty scary journey, and i have to say my own dealings with them have been nothing except helpfull.

They make no secret of the fact that their funding comes from financial institutions, get over it, as i said they have to be funded from somewhere, how else do they operate? i think you'll find payplan are also funded by the industry.

At the end of the day why shouldn't the banks get all their money back, we were happy enough to play the game when we borrowed the money, why do some people feel that its their right not to pay back what they owe, i really don't get this.

And finally you do have a choice, you can carry on paying minimums getting deeper and deeper into debt, or you can go it alone and have all the hassle of dealing with the people that are basically only after what is theirs, or you can with your eyes wide open let Step change, or payplan or CAP deal with it for you, as 10's of thousands of people are happily doing

Time_to_face_the_music wrote: »

Payplan is a business, not a charity.

Business or Charity, still funded by the credit industry, to be honest does it matter as long as all the money we pay is going to pay our debts,

How our Debt Management Plans are funded

A Payplan Debt Management Plan is funded in a unique way.
Rather than charging our clients, we pay 100% of your regular monthly payment to your creditors to clear your debt as soon as possible.The credit industry recognises our services and many creditors agree to pay us a small donation for providing this service to you.

Time_to_face_the_music wrote: »

If 11% of our payment goes from the creditor back to StepChange or Payplan or whoever, I believe that is possibly a reason for wanting over-extended DMPs to recover more income for the charity or business.

Maybe, but you still have a choice to say yes or no, no one is forcing anyone to do anything they don't want to do, and if you don't like what you're told you can go elsewhere.

Personally i researched all options myself, i felt that it was my responsibility to determine which way was the best way for me, not anyone elses

Hi. im after some advice if you can help me.
Over the last two years i have faced my debts head on, i have paid off alot of the debts and now only have a relative small debt left to pay, as they are now coming to a end, Can you tell me will they auto matically be taken off my credit file? or will they still show? but say paid? im in a tiswas over this.
I feel my credit file isnt getting any better, how do i make it more healthier. sorry so many questions. i just want to be debt free.
thanks pantherchick x

I've not heard anything back from the bank I made a full and final offer to yet, though I did request in the letter that they respond before the end of this month if they wished to accept.

Unfortunately I wasn't aware and didn't realise it would be a good thing to include a statement of accounts with this at the time. I will also have to check my old address again as I suspect that they still haven't updated their records for me.

I have a few quick questions regarding an IVA.

Do different banks within the same banking group class as the same institution for the purposes of being one of your creditors or do they class as seperate entities?

E.g. Would for example Halifax and Lloyds class as separate creditors or would it all be lumped in as the same?

I am thinking in particular of needing 75% or more of creditors to agree with the IVA option to be accepted?

And also in terms of being able to offset?

Can they offset across banks and accounts within the same group, or only within the same individual company/entity?

Finally, for debt advisors/charities with experience of helping people with these sorts of things are IVA's usually accepted or do you get some where more than 25% of creditors vote against it and if so why?

Do you find certain banks etc usually vote no or most vote yes in order to prevent full bankruptcy and getting zero? Any that always vote no?

Cheers,

John