Leaving StepChange

June2019

So I've decided to come away from Stepchange and manage my debts myself - has anyone done this and also can anyone advise me on the best way of going solo!? Where do I start?!

[Deleted User]

Hi June2019,

Have a look at Puzzcat's diary, she is one I know has gone solo in managing her DMP - https://forums.moneysavingexpert.com/discussion/4768685/puzz-tries-again-this-time-with-claws-my-dmp-journey-i-will-get-debt-free&highlight=puzzcat

I think there are some others in the diary section too.

Good luck x

June2019

Thats great - thankyou! I will have a look at Puzzlecats diary

If anyone has any tips as well that would be superb - something else I was thinking about is how old some of these debts actually are - so I will be cancelling my DD with SC and was thinking of waiting to see who makes contact with me - is that advisable??

NeverendingDMP

Just make sure you write down debt details inc reference numbers and outstanding totals/current owners of debts before you cancel as your account information will not be accesible online when you cancel.

jwil

You could use the NEDCAB site to self manage, it's really helpful https://nedcab.cabmoney.org.uk/dmp.asp

I just told sc I was going to self manage and then wrote to all my creditors advising them of this and including the I&E and payment offer.

sourcrates

June2019 wrote: »

Thats great - thankyou! I will have a look at Puzzlecats diary

If anyone has any tips as well that would be superb - something else I was thinking about is how old some of these debts actually are - so I will be cancelling my DD with SC and was thinking of waiting to see who makes contact with me - is that advisable??

Good choice to go self managed.
So time for an early spring clean of your financial world, it appears you have a good plan to start with, my suggestion would be to make CCA requests to your creditors, once they contact you.

This will separate the wood from the chaff, see which debts are still enforceable, and which, if any, are not.

Once you know the outcome of this, you can plan your strategy.

Boppy30

Sorry to jump on the post, but would you recommend making a CCA request even if the debt is only a couple of years old?

Or are they mainly for really old debts?

sourcrates

Boppy30 wrote: »

Sorry to jump on the post, but would you recommend making a CCA request even if the debt is only a couple of years old?

Or are they mainly for really old debts?

Its your statutory right to make a request anytime you wish.


The creditor has the timeframe contained within the consumer credit act, to either respond fully, or tell you why they can`t.

June2019

Well I have a couple of old ones but the others are within the last 6/7 years -

I have cancelled my DD with SC and was just waiting really to see who makes contact with me and then I was going to reply with either settlement offers on a payment with them.

Any one have any advice on the best way to go about all this

sourcrates

June2019 wrote: »

Well I have a couple of old ones but the others are within the last 6/7 years -

I have cancelled my DD with SC and was just waiting really to see who makes contact with me and then I was going to reply with either settlement offers on a payment with them.

Any one have any advice on the best way to go about all this

Well its common sense, and a basic first step that we recommend on here, that before any settlement negotiations take place, you CCA each relevant account, to check enforcability.
This brings you two benefits :


(1) the account is put "on hold" until the request is complied with
(2) you do not have to pay the account, untill they provide what you have asked for.


Creditors lose paperwork all the time, if they can`t respond to your request, for any reason, the debt is unenforcable in court, so you could settle for peanuts, instead of coconuts, its all a part of the process so you are aware of your position, instead of blindly throwing numbers at creditors, you need to be savvy in these circumstances.

Once you know if a debt is valid or not, as i said before, you can plan your stratagy, this is more of a marathon process, rather than a sprint, it takes time to collect information, and to work out the best possible outcome for you.

Only when you have this information can you make realistic offers to settle, and there again, you need to do that in a way that legally covers you from been chased for the remainder of the debt, it happens all the time, people rush in, make an offer over the phone, offer is accepted, paid, six months later, another debt collector writes chasing the balance you thought was discounted, they got nothing in writing did they, so legally the remainder is still due, you must do this in the correct way, and we can help you achieve that.

pp64

I have requested CCAs too. Virgin have written back to me with a copy of the CCA which was valid at the time I took out the CC but it is NOT signed by me - does that mean that it is unenforceable? If so, do I then tell them that I know it is unenforceable?

Thank you