Random phonecall from Moorcroft

dragonsfire1981

Yes I know what those all are.

I have £16,000 ish

Should I speak to Stepchange again about this as it does strike me as being a little unusual, but I've no reason to believe why their advisor would put me in touch with them in bad faith or unless he thought it was the best option. It is a little confusing I must say.

MovingForwards wrote: »

There's
1. DMP
2. Debt relief order
3. IVA
4. Bankruptcy

Unless you are in Scotland and things are a little different.

How much debt are you in?

sourcrates

dragonsfire1981 wrote: »

They are handling arrangements with creditors to stop interest charges pay off the debt etc.

It seems to me as if it's some kind of alternative to DMP. Because Stepchange said the IVA wasn't suitable for me they said they would help arrange something alternative to explore.

Given of course I wouldn't know how these things normally work, I didn't see it as particularly unusual.

Ah, so it is a DMP, but one you pay for.

Stepchange do them for free, so do Payplan, having assets is no barrier to having a free DMP, cannot understand why they would refer you to a fee charging company ???

Push comes to shove, you can do it yourself using NEDCAB for free.

Paying for this does not get you any better quality of service.

MovingForwards

Do you own your own home, with or without a mortgage?

Do you own a car/bike/van worth more than £1k?

Are you working? Employed/self employed?

Please don't take this the wrong way but I, and the others who have posted, are concerned you have been referred to a pay for DMC (I originally was with one and I could have been debt free by now with the amount I've paid them over the years!)

dragonsfire1981

Okay it's a little confusing now. I have no idea why they referred me to a 3rd party to be honest. Should I ring Stepchange and query why I was referred to them? I wouldn't have been aware that this is a rare occurance or something people hadn't heard of before.

sourcrates wrote: »

Ah, so it is a DMP, but one you pay for.

Stepchange do them for free, so do Payplan, having assets is no barrier to having a free DMP, cannot understand why they would refer you to a fee charging company ???

dragonsfire1981

I don't have any assets worth more than that no. I only have crypto which I probably won't sell much of for a long time.

I'm self employed, also on tax credits.

Sorry what's a DMC?


I see. So now I'm puzzled as to why Stepchange referred me to them, what do you think is going on? I have to admit I was surprised to hear Debt compare would have a seperate fee.

And can I exctract myself from this or get Stepchange to take over it? Very confused as to how this is going on.

MovingForwards wrote: »

Do you own your own home, with or without a mortgage?

Do you own a car/bike/van worth more than £1k?

Are you working? Employed/self employed?

Please don't take this the wrong way but I, and the others who have posted, are concerned you have been referred to a pay for DMC (I originally was with one and I could have been debt free by now with the amount I've paid them over the years!)

MovingForwards

DMC is debt management company

If anything you should have been referred to business debt line (I think that's what it's called), but one of the members will say what the name is.

dragonsfire1981

I have no idea what an NEDCAB is, I'd rather someone else handle it for me anyway.

What should I say to Stepchange then as I'm a bit muddled by all this now.

sourcrates wrote: »

Ah, so it is a DMP, but one you pay for.

Stepchange do them for free, so do Payplan, having assets is no barrier to having a free DMP, cannot understand why they would refer you to a fee charging company ???

Push comes to shove, you can do it yourself using NEDCAB for free.

Paying for this does not get you any better quality of service.

sourcrates

“DMC” is debt Management Company, I would query this with Stepchange, but you can cancel your arrangement with these people, just do so in writing.

I must admit your story is unique to me, I have never heard of a debt charity referring a client to a fee charging company before.

dragonsfire1981

Okay, and then I request that Stepchange take over the handling of a DMP for me?

Well I must say I'm perplexed by all this, to think everything was going smoothly as well. Debt Compare seem straightforward to deal with though. Is there any possible reason why I would have been referred to them instead? I will query this with them tommorow and try to talk to the person who I originally spoke to who then referred the 3rd party, I'll see what he says, maybe there's a reason behind it, can't see why they would do something that wasn't in someone's best interests.

sourcrates wrote: »

“DMC” is debt Management Company, I would query this with Stepchange, but you can cancel your arrangement with these people, just do so in writing.

I must admit your story is unique to me, I have never heard of a debt charity referring a client to a fee charging company before.

sourcrates

dragonsfire1981 wrote: »

I was being assessed for an IVA but because I have assets relating to business (crypto) the IVA firm assessing thought it may not be a good idea so they said the next best thing would be a DMP or similar thing of which they asked Debt Compare to deal with and contact me about. ?

In this post you suggest it’s the IVA company that referred you, which would make more sense.
I can tell you now Stepchange would never refer you to a fee charging DMC.
It’s just so far out of their remit, they just would not do it.