DMP

sourcrates

Both are equally as good or as bad at what they do, both are creditor funded, both insist on treating each creditor fairly because of this, both do the same job processing and distributing your payments, if anything, I would say Payplan are a little more flexible than stepchange, but either would be a good choice.

KayB85

sourcrates said:

Both are equally as good or as bad at what they do, both are creditor funded, both insist on treating each creditor fairly because of this, both do the same job processing and distributing your payments, if anything, I would say Payplan are a little more flexible than stepchange, but either would be a good choice.

Thankyou, that’s really helpful advice. Either way I’m not in a great situation so might aswell try to start fixing it. 

Rob5342

I used Stepchange when I started my DMPand found them very good to start with as I wasn't familiar with the process and they sorted everything out for me. After a while I started to find them a bit restrictive as I wanted to stop some paying some debts to make them default and pay extra to the smallest one to get rid of it, but they just wanted me to keep making an equal spit between them.

I use this site which calculates everything for you and creates the lender letters, I use that as a basis and adjust things to how I want.

https://nedcab.cabmoney.org.uk/dmp.asp

RWMJPMC86

Hi @Rob5342, Out of interest - did you notify Stepchange that you were going to stop paying them or did you just stop the Direct Debit? I'm at this point now and would like some of the debts to default which doesn't seem to be happening while StepChange are in charge.

fatbelly

Payplan are smaller than stepchange and so I would slightly prefer them. 

But there's little in it and you should get good service from both

Ex_welsh_borrower

RWMJPMC86 said:

Hi @Rob5342, Out of interest - did you notify Stepchange that you were going to stop paying them or did you just stop the Direct Debit? I'm at this point now and would like some of the debts to default which doesn't seem to be happening while StepChange are in charge.

I went self-managed a few months ago, just rang StepChange and asked them to close my account. Was on the phone about 10 mins they didn't ask for any reason, then did all the ringing/writing to my creditors to agree payments etc.

Rob5342

RWMJPMC86 said:

Hi @Rob5342, Out of interest - did I aiyou notify Stepchange that you were going to stop paying them or did you just stop the Direct Debit? I'm at this point now and would like some of the debts to default which doesn't seem to be happening while StepChange are in charge.

I told them that I would be managing it myself and asked them to close the account. They are good but have quite a fixed approach on how they deal with things. I prefer the flexibility I have now.