How to manage clearing our debt

Coaster23

So hopefully nearly at the end of our debt story…but need advice.
been with stepchange 10 years ….8 to go. We owe 26k . We are in a much better situation with our mortgage now paid off. Our income is less than our last annual review But obviously we have no mortgage now🥳 therefore more money left over each month.

we have £15k to make offers with. The debts are with 6 companies. 

Am I right thinking that we have to hand over the £15k to SC and they address the offers?
Our concerns are that the offers will be rejected any some….do they all have to agree?
look forward to any help?
can’t wait to have this hopefully all behind us 🤞

2021rdsunshine

Coaster23 I’m definitely not an expert at all, I’m only starting my DMP now. But if I was in your position, I would be leaving stepchange now and make offers to creditors myself. The lowest offers possible and you probably would have some change from your £15000 saved. Many congratulations for being at the end of the journey!

Coaster23

Thanks so much….just want to make sure we get this bit right….as we no longer have the mortgage I’m not sure if they will simply want to increase our monthly payments…

good luck to you…SC have been such a help to us . A lifesaver really!

2021rdsunshine

I think that’s probably what they would do, increase your monthly payment to creditors..I completely understand that they have been a life saver for you until now but having that bit of money available to sort this out now I would definitely consider to manage the offers yourself. I’m just thinking if I was the creditor I would be pleased to have some of the money now instead of waiting a few more years for it, in particular if your debts are not with the original creditors anymore, what I suspect is the case. I’m sure more experienced forum members will come along to advise you further, good luck 

Rob5342

Have they all defaulted? If so, then firstly send CCA requests to them all, if they can't produce the CCAs then the debt is unenforceable and you can simply stop paying. With debts that old there is a good chance the CCAs can't be produced.

Once you've done that then approach the companies yourself and make an offer, start low and if they reject it wait 6 months and try again. Don't go through Stepchange as they have a very fixed approach to things and will just want to split your payment equally between everyone. Stepchange are funded by the creditors, so unfortunately that means their advice results in people paying far more towards their debts than they need to

sourcrates

@Coaster23

Thanks for posting, but please try and stick to just one thread per subject, it makes it so much easier all round, and you get the answers you are seeking much quicker.

If people respond to multiple threads on the same subject they just end up repeating themselves.

Thanks in anticipation.