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Stepchange Query
chachaslide
Posts: 13 Forumite
If you decide to use Stepchange can you pick and choose which creditors you want included in the dmp? For example my car is a priority debt and I'm working hard to clear the areas. My creditor is happy with our arrsngemt. Could I not include this debt or do you have to list everything?
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Comments
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Once the PRIORITY debts have accepted payments - the non-priorities just get what's left over. A debt management plan is for the non-priority creditors, who will be paid on a pro-rata basis.
If your car finance is HP or conditional sale, and you want to keep the car, then the lender is a priority creditor and nine times out of ten you will need to keep up the contractual payments.
If your car finance is an unsecured loan then it is non-priority as the car cannot be taken back and the lender has no recourse to any action until they have a ccj, like the other non-priority debts.0
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