What to do next???

rpkv1305

Good evening, In January 2016 I started a DMP with Stepchange lasting for 4 years and 1 month.

Although I am proud of clearing nearly half the debt I would like to clear it quicker and as I am now approaching half way through my debt repayment and was wondering the following.

1) do I continue with Stepchange or do I speak to my creditors myself (what are the advantages)

2) I will soon be getting around 20% of my total debt from a relative, do I use this to pay off 1 or 2 of my smaller debts?

Any advice would be appreciated.

Arleen

Best to speak with stepchange as they already know all the details of your case and can advice best!

fatbelly

There is no problem in going self-managed if you want to do that. Plenty of help on here including this thread.

https://forums.moneysavingexpert.com/discussion/5623951

It's unlikely that 20% will settle all your debts. But that, combined with s77-79 consumer credit act requests (referred to as cca requests) could have a massive impact and there is a more specialised thread here

https://forums.moneysavingexpert.com/discussion/115430

enthusiasticsaver

You could go self managed and try offering full and final settlements on a few of the debts. As you have only been on the DMP for a year though and your creditors would be repaid in full if you carry on for a further 3 years this may not be successful. Fat bellys advice is good.