Last hope

Zerdi6

Hi Danielle,

I was in a similar situation to yourself a few months ago. I contacted StepChange and am now on a DMP with them. They will help you budget and make sure you have enough money to live comfortably, then any money left over will go towards your debts. I have tried a self managed DMP before but with StepChange I feel more supported. Best of luck in whatever route you decide but always remember theres plenty of advice and support here for you

daniellejayne

Has anyone ever used the cab before do you know how it's works and what's involved is it over the phone face to face and how I see if it's what I want??

daniellejayne

Hi zerdi6

How does stepchange work do they have fees? Do they do it over the phone? I'd like to know as much as possible before I ring or what I need to do

Zerdi6

Hi,

if you go to http://www.stepchange.org/Debtremedy.aspx and answer all the questions it will let you know what the best option for you is

If like myself it's a debt management plan, you can call them to discuss and they will complete a budget with you to make sure you can live comfortably and how much you have left to pay your creditors each month then post a pack out. It will contain your budget, list of creditors, advice, direct debit guarantee to sign and return, and a letter to sign to say you give them permission to speak to your creditors on your behalf.

It is completely free - any money you pay to them goes to your creditors.

If you have debts with your bank they will advise you to set up a 'safe' bank account elsewhere.

They're really friendly and helpful and won't judge you.

daniellejayne

Thank you for your reply is it conetelu over the phone? And how is the money taken by them direct debit. And how soon do they get things started. So for all the questions I'm just really nervous

Zerdi6

Hi,

You will need to speak to them over the phone initially so they can go through your budget etc. Then they'll get a pack sent straight out to you, you just fill in the required information and send it back, then they'll start contacting your creditors for you to explain your circumstances and make an offer of payment.

They usually take the money by direct debit but I set a standing order up as I have all my bills an payments leave my account on the same day, and they didnt do a direct debit option for that particular day.

Then they split the money between your creditors for you (I think they usually send the money around the 25th of each month) and send you a monthly statement so you can see whos been paid what and what balances are remaining.

They do an online login which you can log onto to see your statements, creditor balances etc.

daniellejayne

So is there no face to face meetings that ally of other people seem to do. And lastly (sorry for all the questions) most of my 'loans' are set up
As direct debit do I have to change that or will they sort it?

Zerdi6

No there's no face to face meetings. If you use online banking you can easily cancel your direct debits on there, if not just phone or pop into your bank

Kitty777

daniellejayne wrote: »

Has anyone ever used the cab before do you know how it's works and what's involved is it over the phone face to face and how I see if it's what I want??

My mom has used the citizens advice for her debts. They where roughly around 20k. At first they seemed a little judgemental...but then the letters started to come through that they had arranged repayment plans for her to repay her loan companies £1 a month!! I was amazed. She has check ups like every 3months to see if she can increase. It takes the pressure off her though. Remember if you just miss the payments, they will come chasing you...

A lot of companies seem to take a step back when you mention CAB also. Or they did for us anyway.

Also if need be, contact your bank and explain that things have been rough for you. Make an arrangement with them. They froze any interest on my moms account and stopped all repayment requests for 6months so she could take a breather. I was suprised as to how helpful they were, just by us putting them in the picture.


If you have a panic, or another meltdown just sit down with a cup of tea, close your eyes and breathe...take 15mins out...nothing will change in that time and sometimes you need a few mins away to reset your brain

take care of yourself.
-kitty.

daniellejayne

Hi everyone

Just wanted to say a massive thank you to everyone for helping me with your comments I finally today took the big step (for me) and spoke to someone at stepchange and sorted out a debt managment plan though it still needs to be finalised I feel so much more relieved paying back 240 a month which was a bit more than I thought but a lot less than what I have been a lot less!!! And with just 200 a month to myself will be difficult at first but I truly believe I need this to make me realise that money really doesn't grow on trees and just using your own money even if it's just a tiny amount In the long run is so much better and will help me look over my spending and help me cherish it a whole lot more. So truly thank you for all your comments they have helped me so much financially and mentally. My journey has just begun and I'm sure it will be difficult at first but a life free of debt is all I'm thinking off
Thanks very much
Danielle
xxx