Stepchange Query

chachaslide

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?

fatbelly

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.