DMP & Mutual Support Thread - Part 8

Growurown

Time_to_face_the_music wrote: »

I have read that the creditors give back 11% of all debt recovered to StepChange (ex CCCS). Does anyone know if this figure is correct?

I have to confess to wondering what they do with their funds too. What's the betting someone will be along to tell us tomorrow

Can't answer the 11% question but having just looked at SC's website it says that it has 190 debt advisors working for the company. There must be many more employees dotted all over the country as they have offices throughout the UK. As salaries make up the biggest chunk of most companies bills I would suggest that this is where most of the money goes.

Growurown

http://www.charity-commission.gov.uk/Accounts/Ends30/0001016630_ac_20111231_e_c.pdf

If you are really interested you can view the last set of accounts submitted to the charity commission.

lizzy23

Growurown wrote: »

http://www.charity-commission.gov.uk/Accounts/Ends30/0001016630_ac_20111231_e_c.pdf

If you are really interested you can view the last set of accounts submitted to the charity commission.

great minds it actually says 856 employees on the accounts summary

Giraffeseeker

Their service is free at the point of delivery (ie to clients), so however they are funded I don't really care. The service is great and if prime time TV ads mean they are reaching people who are struggling and don't know where to turn, then it is money well spent. Like most people I pay on 1st and they pay my creditors on 24th, so they get the interest and that makes up some of their funding. I expect their biggest overhead is staff, and they are worth every penny.

katy_ann

Ive been having so many problems with my creditors stating that they havent recieved the DMP paperwork, any whom Ive spoken to Barclaycard tonight who have happily reduced my interest rate to 12% from 27% so am happy about that, they have also refunded me 3 late payment charges which I thought was good of them.

Very/Shop direct on the othe rhand have been are an absolute nightmare. I spoke to stepchange who advised me to write very a complaint letter as they were being rude and not agreering to the dmp. Then they send me a letter today stating that they agree to the dmp .... for the next TWO payments, then I have to start paying normally again, this is NOT going to help me! Feel like im going round in circles!! x

Time_to_face_the_music

Growurown wrote: »

http://www.charity-commission.gov.uk/Accounts/Ends30/0001016630_ac_20111231_e_c.pdf

If you are really interested you can view the last set of accounts submitted to the charity commission.

I really am interested hence my comments in response to Alice's post.

Income £33.62 million
Outgoings £28.93 million
Salary costs £17.14 million or an average of £20K per employee but with 4 employees on salaries of between £70K and £180K

I believe it is a reasonable question to ask about creditor contributions to the charity and the spending of these donations. It's not an accusation, just a question but it appears to have touched a nerve.

Apologies for any unintentional offence and back to aiding people who come here seeking help, advice and support.

TTFTM

Ellieseleven

Mossop01 wrote: »

Hi everyone I've been reading these posts since the end of November when I had my LBM, which was quite terrifying to say the least, we have 31000 on credit cards and loans, just typing it makes me queasy! We have a story like everyone else, but this makes no difference to the amount we owe or the situation we find ourselves in, the main thing is that we are taking the bull by the horns and tackling this. I do suffer with my nerves and my main concern at the moment is how i am going to deal with the phone calls and letters that will start to come through. The guilt about defaulting on our credit is crippling, until now we have never missed a payment or reduced any payments. But in my heart of hearts I know that this is the way forward to see an end (although a long way off) to these debts. It's terrifying and exhilarating at the same time! Reading ur posts u have all done fantastically well so far, I just hope with good budgeting and not sticking my head in the sand anymore we can have success with this! I'm determined to get my family through this! Anyway just wanted to say hi, this forum is amazing its given me really good advice so far and actually makes me feel abit better. Thanks!

Welcome! I know exactly how you feel, we had never missed any of our payments when we finally gave in and admitted that we could no longer carry on the way that we were living. I always felt a sense of loyalty to the banks etc. but you soon find out that that loyalty is very much mis-placed and the guilt is replaced with determination to be free of debt.


Good Luck with your journey, you will find this forum invaluable for help and advice and motivation along the way


Take care
Ellie xx

Ellieseleven

Ha Ha, I had to laugh at the letter that we received this morning from Santander saying as we have not used our account for a while they are not going to issue us with a new card unless we make a transaction in the next 6 weeks... Oh we'll, that's a relief. Left hand, Right hand comes to mind

Ellie xx

lizzy23

Time_to_face_the_music wrote: »

I really am interested hence my comments in response to Alice's post.

Income £33.62 million
Outgoings £28.93 million
Salary costs £17.14 million or an average of £20K per employee but with 4 employees on salaries of between £70K and £180K

I believe it is a reasonable question to ask about creditor contributions to the charity and the spending of these donations. It's not an accusation, just a question but it appears to have touched a nerve.

Apologies for any unintentional offence and back to aiding people who come here seeking help, advice and support.

TTFTM

But then if you add in stuff like, rents, utilities, stationary, repairs etc there are probably not people on that amount of money, a charity still needs resources to operate, i just don't get all this conspiracy theory business, was also interested to see in there that they arranged nearly 1000 iva

Time_to_face_the_music

lizzy23 wrote: »

But then if you add in stuff like, rents, utilities, stationary, repairs etc there are probably not people on that amount of money, a charity still needs resources to operate, i just don't get all this conspiracy theory business, was also interested to see in there that they arranged nearly 1000 iva

The salary figures are directly from the Charity Commission report that either you or GUO sent the link to.

There is no mention of any conspiracy theory, the discussion between Alice and I, (and other people on other sections of this forum and other forums), is regarding to StepChange's (ex CCCS) bias towards creditors and their inability to get interest stopped when individuals can, either without or with the assistance of the FOS.

I think it's time to agree that we can all have our opinions on things and see stuff from a different light. Or as my OH would say SUMO