Starting a DMP and need advice

stu12345_2

DjangoUnchained said:

Rob5342 said:

The trouble is that Stepchange have to balance your interests against their own in terms of getting funding. Ideally they would tell everyone to default and make CCA requests etc, but then no creditors would fund them and they wouldn't be able to help anyone. The advice they gave me means my credit report is harmed for longer then it needed to be, but on the other hand if they hadn't been there I might not have yet started tackling things.

I have a 7k debt that PRA can't provide the CCA for so I'm happily ignoring that. I also had an 11k Nationwide credit card that I won and affordability complaint on, the result being a refund of 8 years of interest which wiped the 11k and left £5k they paid to me.

in other words stepchange are a scam, they are not there for your interest, they are there to keep money rolling in for the banks, am i wrong?

they are not a scam.what is a scam is the companies that advertise online on the radio TV newspapers that take a 30% cut in fees and then make a monthly payment to your creditors.
I once had a small chat with stepchange about their funding.they did explain that they are a charity and basically the only money they get to pay for staff is the fact that credit cards etc are required to donate a tiny % of profits to pay for charities.if the banks credit card companies could avoid this tiny % .they would certainly avoid  having to pay it.but it is in some sort of legislation or sumit that they must pay .

Rob5342

DjangoUnchained said:

Rob5342 said:

The trouble is that Stepchange have to balance your interests against their own in terms of getting funding. Ideally they would tell everyone to default and make CCA requests etc, but then no creditors would fund them and they wouldn't be able to help anyone. The advice they gave me means my credit report is harmed for longer then it needed to be, but on the other hand if they hadn't been there I might not have yet started tackling things.

I have a 7k debt that PRA can't provide the CCA for so I'm happily ignoring that. I also had an 11k Nationwide credit card that I won and affordability complaint on, the result being a refund of 8 years of interest which wiped the 11k and left £5k they paid to me.

in other words stepchange are a scam, they are not there for your interest, they are there to keep money rolling in for the banks, am i wrong?

IThe advice they gave me seems somewhat dubious now, but I'm sure there are people that wouldn't have got things started without them.

I wouldn't call them a scam, they can be useful if you understand how they fit into other impartial advice that is available but you shouldn't listen to them exclusively.

DjangoUnchained

i apologise, scam is probably a bit strong but i dont believe they offer the best advice. Im sure people use them if they are scared of having to deal with these stupid debt companies but honestly, they shouldnt be.  I found it very empowering to deal with them myself and you soon realise how toothless they really are.

tigergambit

stu12345_2 said:

looking at one of my debts aqua credit card that was sold to link financial.upon looking at link financial website today.it does state if you want to be a regular payment plan customer please fill in their income expediture sheet.wow it is mega detailed
everything from how many newspapers/magazines do you buy, how much do you pay other creditors and what % do you give them.
. if i did simply offer them what I can afford. would it really be as easily as writing a letter stating you are getting blah blah £ a month. thankyou and goodbye .that's the last you hear from me. you aren't getting any income and expenditure sheet from me .
its just i find djangounchained reply about not ever giving income and expenditure sheets to any creditors and simply making a payment offer to them what he felt, without the creditors wanting some sort of evidence to show he was in financial problems and could only afford what he said he could afford.

Have you sent a CCA on this  card? Aqua can't find mine although it is less than 3 years old.