Stepchange issues

TempUsername2307

I have a problem with stepchange. When doing a budget with them, they want to give all surplus income to creditors. If my income after every bill is £900, stepchange want to give every penny to creditors, but I would only be comfortable with giving £500 out of £900. They expect me to just have £0? 

Candy0107

Of course they expect you to have £0 at the end of the month.  Their budget review should account for everything (emergency fund, dental etc).  At least your debts will be paid off quicker. 

Galloglass

Is there any reason why you could not manage the debts yourself without a 3rd party.

I have been critical of the SC model in the past as well as others who use the same business model. But I have, on balance, to admit that debt help costs and someone has to pay for getting people out of the mess.

SC also have a problem with some creditors that won't even deal with them fairly, never mind the debtor but it comes down to choice of whether you want less hassle with SC or manage the issue yourself and be in control (to the extent you can be in control)

Gettingtherequickly

Your other thread states that you want to clear your debts and you have 10 months to debt free which you appear to be doing yourself as you state that a DMP would take much longer?

sourcrates

Quite a easy job to make your budget show a £500 disposable balance i should think, thats what a budget is for, to show everything you spend money on, the bit you want for "me" simply add "me" to your budget, job done.

Suseka97

The I&E you would have completed doesn't just take account of 'bills' as you state.  It covers all your necessary expenditure on food, travel costs, entertainment, dental, clothing etc. etc.  So, if after all that you have £900 disposable income - well that's the SC model, all surpluses once expenditure has been accounted for is allocated to your creditors.  

So it comes down to whether you want to follow that model and clear your debts quicker - or do-it-yourself and adjust your I&E so that the surplus is one that suits you.  Of course you won't be able to use SC for that and your DMP will last longer - but that's entirely up to you.