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    • rpkv1305
    • By rpkv1305 6th Dec 17, 9:38 PM
    • 2Posts
    • 0Thanks
    What to do next???
    • #1
    • 6th Dec 17, 9:38 PM
    What to do next??? 6th Dec 17 at 9:38 PM
    Good evening, In January 2016 I started a DMP with Stepchange lasting for 4 years and 1 month.

    Although I am proud of clearing nearly half the debt I would like to clear it quicker and as I am now approaching half way through my debt repayment and was wondering the following.

    1) do I continue with Stepchange or do I speak to my creditors myself (what are the advantages)

    2) I will soon be getting around 20% of my total debt from a relative, do I use this to pay off 1 or 2 of my smaller debts?

    Any advice would be appreciated.
Page 1
    • Arleen
    • By Arleen 6th Dec 17, 9:39 PM
    • 1,038 Posts
    • 768 Thanks
    • #2
    • 6th Dec 17, 9:39 PM
    • #2
    • 6th Dec 17, 9:39 PM
    Best to speak with stepchange as they already know all the details of your case and can advice best!
    • fatbelly
    • By fatbelly 7th Dec 17, 7:52 AM
    • 11,647 Posts
    • 8,780 Thanks
    • #3
    • 7th Dec 17, 7:52 AM
    • #3
    • 7th Dec 17, 7:52 AM
    There is no problem in going self-managed if you want to do that. Plenty of help on here including this thread.

    It's unlikely that 20% will settle all your debts. But that, combined with s77-79 consumer credit act requests (referred to as cca requests) could have a massive impact and there is a more specialised thread here
    • enthusiasticsaver
    • By enthusiasticsaver 7th Dec 17, 11:12 AM
    • 4,852 Posts
    • 9,174 Thanks
    • #4
    • 7th Dec 17, 11:12 AM
    • #4
    • 7th Dec 17, 11:12 AM
    You could go self managed and try offering full and final settlements on a few of the debts. As you have only been on the DMP for a year though and your creditors would be repaid in full if you carry on for a further 3 years this may not be successful. Fat bellys advice is good.
    1 week to go until early retirement. Debt free and mortgage free.

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