Cancelling DMP

2catsandcounting

I've been on a DMP with Stepchange for 2 years now, and only have 1 payment left, due to be made on 1st January, I've kept my payments at the same level the whole time, despite in September I went part time at work so my income reduced from £1200 a month to around £800. I've still been paying £350 a month, thanks to my partner being really supportive.

However, I was really ill at the beginning of December, so took a week off work, so my pay this month was only £600, so there is no way that i can afford to make the £350 payment on 1st January. I spoke to Stepchange yesterday and they've said i'm too late to do a new budget for January so i'm not sure what to do. My partner is really supportive and has offered to sub me the money, but it means he's going to really cut back himself, and miss out on a mates stag do and a few other things, and i feel awful putting him in this position.

I thought about cancelling the direct debit to stepchange, and then making the final payments to my creditors my self using a mixture of my January paycheck (i get paid on 20th January, and it should be a good one with double time gettiing paid for xmas day boxing day and new year) and my student loan which i get on 25th january (i'm a masters student and took the full £10K loan only needing it to pay the tuition fees)

i don't know whether i'm being silly in cancelling, but for the sake of 3 weeks i don't think there is much i can do, and the guy i spoke to at SC wasn't as helpful as everyone else i've spoke to and made me feel really ashamed, hence why i would just cancel the direct debit.

thanks for any help and merry christmas x

sourcrates

IHi,

Seriously I would not think twice about this, certainly don't let it ruin your Christmas.
Just pay it next month, or settle individually with each creditor in your own time.

Cancel the direct debt and think nothing more of it.

Your creditors will write to you requesting the outstanding balance, take the opportunity to see if they will each settle for what they've already been paid, or whatever you can agree with them.

I look on it as an opportunity !!!

fatbelly

These are non-priority creditors

That means they get a share of what is left over after you pay your priority debts and make your priority payments (food, utilities, rent, mortgage, council tax etc). If there's nothing left over, they get nothing.

Your stepchange guy should have explained this and suggested a break in your plan - you can do this yourself by cancelling your direct debit and making the final payments when you can afford them.

It's a no-brainer.

Have a nice Christmas.

2catsandcounting

Thank you guys! I expected everyone to say, no stick to the plan blah blah blah so thank you! I'll cancel the DD straight away. SC did suggest a break in the plan, but said i was too late to do it for January, and since it'll be my last payment, i felt kinda stuck!

I was looking forward to starting 2017 debt free, but 25th January isn't that far away!

Merry Christmas!!

enthusiasticsaver

Cancel the direct debit and settle up at end of January. I would email or phone after Xmas and explain though.

Sazzie23

Hi

Well done for making to the nearly end of DMP.
I'd defo cancel the DD. Then write to creditors saying you are expecting to make the final payment in Jan and will be paying direct rather then SC,ask them confirm payment details and amounts then make your payment at the end of month.

Remember to sign debt free role of honour once you've made it out in one piece.

Former_StepChange_Richard

[FONT=&quot]Hi [/FONT]2catsandcounting

[FONT=&quot]My name is Richard and I'm one of the StepChange Debt Advisors who answers questions for people posting on our MSE forum. I was browsing and came across your post. I'm really sorry to hear of your recent experience with us and I wanted to offer you the opportunity to register a complaint with us. We take customer service very seriously and we're always looking for ways we can improve where possible.[/FONT]

[FONT=&quot]I've sent you a private message if you want to make a complaint. If not, I hope you have everything sorted now. Please feel free to contact us if you need any further advice though. We'll be happy to help. [/FONT]

[FONT=&quot]Richard[/FONT]

abby1234519

I'd cancel the payment to them and make it later. You can email them to say this is the date I am making a payment and they will inform the creditors.