Struggling with debt? Ask a debt advisor a question

changeforbetter wrote: »

Many thanks for the previous advice,

This is (I hope!) my last important question I wanted to ask about the implications of the DMP I'm planning.

Will my taking out a DMP for my debts (all CC and overdraft in my own name) have any effect on my partner's (we are not married but live together and have a joint mortgage) credit rating and/or ability to have credit such as any applications or loans she requests with credit.

I truly hope not, as I would hate to have effected her credit, given that she is exemplary in all her own credit dealings (much unlike me, sadly).

Hopefully my final question! Many thanks!

Hi changeforbetter

The best way to answer this question would be to signpost you to an article we wrote on our MoneyAware blog about your credit rating and how other people's debts affect you.

The article covers many of the common myths surrounding credit files and joint debts and will hopefully answer the questions for you. You can view the article here.

Hope this helps,

Rory

rubyjam wrote: »

Each time my StepChange DMP is up for review I try to do it online and each time it says I have to call and to speak to someone. I'm thinking that; a) I am doing something wrong or b)our debt is so huge that they need to speak to us in person

Nothing much has changed apart from Council Tax (an extra £1 per month) and my take home pay seems to have increased by £5 each month.

Due to the cost, we don't use our landline any more. So I'm wondering is it possible for us to confirm these changes by email?

Hi there,

Thanks for your message. Sometimes we just ask clients to give us a call to go through their budget, but it’s nothing to worry about. You’ll have to confirm the changes by phone not email, however we are able to call you back on your mobile if this is more convenient. Our contact details can be found here: http://www.stepchange.org/Contactus.aspx - just let the adviser you speak to know you’d like a call back.

Take care,
Laura

silentkiller wrote: »

Hi,

I got notification that my plan through SC was all set up yesterday and today I called to ask when will I know who has agreed to freeze interest etc and was told SC will not know this and to contact my creditors in about 2 weeks to find out ... I have 10 creditors and that is a lot of phone calls (considering I also have to call them all this week to make token payments). I was under the impression SC would do all the talking to my creditors and I would just get told by them what is happening..

Is this not the case?

Thanks.

Hi,

Thanks for your message. When we set up a DMP, we set up payments to creditors on your behalf and ask your creditors to stop adding interest and charges. As your plan was only set up yesterday, we won’t know yet whether your creditors have agreed to do this or not.

Although creditors don’t have to agree to freeze or reduce these charges, in our experience many do. You might find it useful to read this blogpost about creditors freezing interest and charges, which will give you a bit more information.

You don’t have to speak to your creditors about this if you’d prefer not to. You could wait until you receive your balances and this should show you whether they have frozen the interest and charges.

If you have any more questions, take a look at our guide for existing DMP clients – it has information on what you need to do after setting up your plan and how we can support you while you’re on a DMP with us. Alternatively you could contact our customer service team.

I hope this helps,

Laura