What happens now-sanity check

shepd1958

Hi Guys,
Thanks for all your help so far, early days yet, just wondering what happens next, I have sent off recorded letters to all my creditors (14) stopped all my cca & DD payments (confirmed by the bank) filled in my Stepchange remedy tool and received their action plan, I have filled in my application form for stepchange but not yet sent it, I want to build up an emergency fund for 3 months as I have serious dental work and new tyres for the car to buy and pay for, if I send the form back from stepchange all signed up with a letter asking them to defer first payment till say July, will they be ok with this and can they be trusted not to start it earlier? after all it is my DMP, do I ignore everything till my accounts default? what exactly happens next and what should I be doing? any help would be most appreciated, thanks.

fatbelly

I'm not fully up on Stepchange's internal rules but I doubt they would be comfortable with sitting on it till July.

I think send it back when you are ready to start.

Nothing is going to happen for a bit. The creditors should report a default after 3-6 months of missed payments.

If you start a dmp earlier than this, you risk the dreaded 'arrangement to pay' markers.

sourcrates

Defenatly wait until your accounts default before paying anything more.

We have a dedicated DMP support thread if you want to drop by anytime :

https://forums.moneysavingexpert.com/discussion/5285089