Feeling like I'm back at square one

grumpybee

Hello all,


I'm back again on the DFW board after making silly mistakes with money!


Although the minimum payments on my debts have been met each month, I've been finding it more and more difficult to find money for essential items in order for these debts to be paid. It's become a vicious cycle really. Anyway, I decided, before things got any worse, to contact Stepchange. The guy was really helpful, there was light at the end of the tunnel and I received all the paperwork for my DMP.


Trouble is, I have 2 small debts that I don't feel I need to include on there (overdraft and cc), and as they are linked to my 2 bank accounts, from where everything is paid, and a joint account with my OH, I feel it is too much of a struggle to go closing the accounts and opening a new one so I asked if they could discount these debts on the DMP and I will pay them my own way. Stepchange have refused stating they have to include everything so I now feel I have no option but to no go ahead with the DMP and am going to have to call all other creditors to reinstate my accounts.


Am I being stupid here? I can afford to pay the smaller debts my own way and its making me so stressed thinking about closing accounts/opening new ones that I can't think of doing it to go with step change in order to pay off everything else. Just feel stuck again now

zenshi

Two thoughts spring to my mind.....
1, do a self managed DMP without Stepchange and Easy enough to do
Or
2, stop paying all debts and chuck everything at the two you didn't want in the plan. When they're gone then contact Stepchange

Entering in a DMP with whoever and making less than minimum payments will give you defaults regardless.

grumpybee

Thank you! So simple yet hadn't occurred to me to go about it this way!!! Think I was just shocked at the call to SC .. I was thinking its my money and my debt, surely I can do what I want with it! - probably the same thought that got me into this mess in the first place - but when I know I can pay them, and in a shorter time than estimated by SC it seemed pointless including them and changing all mine and hubs stuff elsewhere. Thanks again.

sourcrates

As Zenshi says above, throw everything at the smaller debts, get rid of those, then either go back to SC or go self managed.

There is a 3rd option, if your credit file is not your number one priority, stop paying everything (non priority) and save up your money each month, as and when you can, pay off one debt, then another, and so on.

If you wait long enough you can get some good discount offers to settle once accounts are with DCA`s, then you can do things at your own pace without having to conform to anyone.