Help and advice please....

Tiggerlou

Hello.... I am due to start a DMP with Stepchange as I have debts of 38k to 18 different creditors... I have gone with a DMP rather than an IVA after discussion with the IVA advisor.... companies I owe include Barclaycard, American Express, Very, Littlewoods, Capital One, Lloyds, Bank of Scotland and i have a personal loan with Moneyway.... I just wondered if anyone could let me know what experiences of these companies they have had and what to expect... I am most concerned about Moneyway and also the possibility of doorstep collectors... makes me struggle to sleep at night... any help would be gratefully received... thanks in advance x

Sazzie23

Hi Tiggerlou

Well done at facing up to your debts, it's very tough at the beginning, but it does get easier.

I've been in DMP since 2013, there are lots of tips and helpful advice on the DMP support thread, the link will be on page 1 or 2 of this forum.
I've never head a bailiff, doorstep collector or CCJ, my debts similar to yours in amount though fewer creditors. I still have my house and will pay off my mortgage well before I complete the DMP.

Standard routine of what happens is ; you or SC tell the creditors you are going into DMP, some will acknowledge, some won't, some will ' refuse ', doesn't matter just keep paying as SC will tell you.

Make sure all your direct debits are cancelled, do that now if you haven't already.
You'll then get some calls and or letters asking what has happened. Don't get into discussions as you don't have the knowledge yet about what to tell them, just say you are going into DMP with SC and give them your reference. If you've still got online acces, take your phone numbers off accounts. If you don't want to talk to them, just ignore the calls or hang up straight away.


Barclaycard are a pain as they don't default easily and often change (lower than usual) interest, whereas a lot of the others will stop completely. There are things you can do, come to the DMP support thread, read the last 500 post or so and you'll feel better ad be better informed too.

Saz

Tiggerlou

Thanks for your reply.... its just awful these first few days not knowing what to expect.... did many companies sell your debt on to other agencies? Xxx