Tips for going self managed

Jon81

Afternoon all,


Just wondered if people could share any experiences or pointers where you have gone from say, step change to self managed.


I am facing the possibility of doing this shortly, as I wish to have a little more flexibility of my DMP and trying to close down some accounts through F&Fs which StepChange otherwise wouldn't support per their T's and C's


As a starting point, if I prepare a new I&E form to share with my creditors and can offer a little more than I am now is that a good starting point?

blisteringblue

All the info you need is here, it works everything out for you and even generates all the initial letters. You only need it to get started once your letters are sent and the standing orders setup things just tick over.

https://nedcab.cabmoney.org.uk/dmp.asp

National_Debtline

Hi Jon81,


It can be a bit nerve racking negotiating yourself but try not to worry. Use your budget and the sample letters to negotiate what you can afford, if that was the same as what you were paying through Step Change that is ok, if it is more then that is ok too, but don't overstretch yourself. Blisteringblue does make a good point, that once you have sent the letters explaining your offer (with your SOA) you cannot change what you can afford. Send the payments even if they haven't been formally accepted.


Be careful when doing full and final offers, if you are going to do one at a time. There is a risk, if your creditors found out you were doing this one at a time, they may feel that you are showing preference to some of the debts. This may cause problems in future negotiations. Good luck,


Laura
@natdebtline