Stepchange

soon2b_debt3

Good morning everyone,

After working out the value of my debt last night (13k!!:eek:) and a completely restless sleep, I decided this morning to contact Stepchange to help me manage my debt, they have confirmed that a pack is on the way to me. I was just wondering if I should keep making payments until the plan is set up or should I cancel my direct debits and standing orders?

I had a DMP about 7 years ago and they advised me to cancel everything but I'm not sure if times have changed?

Any help and advise is greatly appreciated.

fatbelly

If you've contacted stepchange because you can't afford the contractual payments, or doing so is causing overall debt to increase (robbing peter to pay paul) or causing you to miss meals etc then yes you should cancel.

sourcrates

Ideally you need to stop paying for a few months and get yourself a good emergency fund saved up.

So when the washing machine packs in, or the cars MOT is more than expected, it dosent through a Hugh spanner in the works !!!