so do I go the stepchange way or go it alone?

backwherewestarted

well quite a few years since Ive been here!! but as my new username says we now back where we started! in debt! OK not so badly this time but enough to cause sleepless nights.
Anyway have been on to stepchange and they say DMP (or possibly DRO but I don't wanna go that way )
we owe £7000 mainly to credit card, overdraft, catalogue and storecard. we have been managing to cover the minimum payments but thats changed now my son quit college our tax credit and child benefit have stopped costing us around £100 a week
Stepchange say we have £99 for debt repayments which is fine as its at least half the minimum payments and should be manageable and will take £6 yrs to pay off but at least its being paid off not just interest.
I just don't seem to be able to take that leap of faith
I read couple of posts on here of people doing it themselves *which caused me lots of doubts* and wondered if there a reason not to use a DMP company like stepchange??
Also what if they don't stop the interest then what happens? and also all the phone calls from when they sell the debt on at the mo Im dealing with looking after ill parents and their house move etc and Im not sure Ill cope with loads of people turning up at the house or phoning up! *this is all to do with my anxiety disorder I know*
Ive put this off for 2 months now and fast running out of options so any advice be welcome
Ill close my eyes when I press submit thread as Im so embarassed! x

traceydc49

Hi, I'm about to post a similar question myself! I have been with my DMC for 10 years, so when you read my post, please don't think I'm contradicting myself! Personally, I would definatley give Step change a go. Can't fault mine up to now, you can always change your mind if you feel you can sort things yourself. They will certainly take all the worry away, contact your creditors & give you peace of mind, nothing they do for you will be set in concrete, you always have the option to cancel your agreements with them. You need support right now & they will certainly provide it. Good luck

backwherewestarted

Thank you! I just read a couple of things that said people were avoiding and doing it themselves! I just need to find some courage *again* to get this dealt with but I keep thinking well you've managed till now ! I think you just worry once you open the tin of worms you won't be able to control what happens.
I have all the paperwork done its just putting the stamp on the envelope Im having trouble with! xx

traceydc49

Put the stamp on!!!! I don't regret it at all, my DMC helped so much, go for it, you will still be in control.

backwherewestarted

stamp is on!! so in an hour when I take dogs out I ll put in post box!
Did you tell your credit cards etc before you sent letter I typed letter to TSB as I only managed to pay half payment this month not sure whether to bother posting that one if I do this stepchange one? x

Deep_In_Debt

Hi

You could always start with Stepchange and let them do the initial leg work of writing to your creditors etc. Stay with SC for a few months so that creditors can see you are trying to pay your debts and then go it alone using the same payments etc that SC used.

As for calls, these will happen until it settles. Best way to deal with it is to say that SC are dealing with your debts and refer the creditor to them and hang up.

They are unlikely to send someone to the house as that costs them money and no guarantee they will get any money so don't worry about that.

Creditors have no legal obligation to freeze interest but most do, at least for a few months. There are template letters on the National Debtline website that you can use to write to them if they don't freeze interest.

So, why not start with SC, and then when you feel comfortable, go it alone? Check out National Debtline website for advice and information.

Good luck.

National_Debtline

Hi

I agree with the others that using Stepchange sounds like a good idea for you at the moment. Especially if you’re concerned about being contacted by creditors and you have a lot to deal with already.

As Deep in Debt suggests, you could always self-negotiate using the sample letters on our website once you’re happy that the arrangements have settled in, if you would like to be more in control.

I’m sure it will be a big relief once everything is set up.

James
@natdebtline

backwherewestarted

well I posted it !! *gulp* so raises glass of coke to what will be will be now!! *hope Ive done right thing* x

backwherewestarted

OMG serious doubts and panic just set in!!! :(:(:eek:

Deep_In_Debt

backwherewestarted wrote: »

OMG serious doubts and panic just set in!!! :(:(:eek:

Don't panic. You've done the right thing.

I've been where you are and most posters on this board have at some point and it all worked out ok in the end.

Enjoy your coke, put your feet up and relax.

crazy_cat_lady

If you are anything like me, then your only regret will be that you didn't do it sooner.
I think you've done the right thing - peace of mind is priceless