StepChange v Self-Managed... £85k+ Debt

Avante_2

Always_Fishing said:

Rob5342 said:

Always_Fishing said:

Avante_2 said:

Always_Fishing said:

Avante, just as an FYI for you, I've sent off all my affordability complaints today, it was easy enough using this link that was shared with me on my post https://debtcamel.co.uk/refunds-large-high-cost-loans/

I've already had a couple of responses just asking for some personal details to identify the account or an acknowledgment of the complaint, not much yet in the grand scheme of things but its another step forward that's quite simple to do if you want to keep the progress going!

Well done so far, looks like you're on a roll.

Thanks so much for this Always Fishing,

This was tomorrow’s task as I spent most of today sorting out the details on previous posts but progress is progress! 

You’ve given me a nice head start on tomorrow’s task so thanks again. Please let me know how you get on, be interesting if NewDay treat us the same/different (I know individual circumstances differ).

As Rob previously mentioned I’m going to expect nothing and be pleasantly surprised if I get anything.

p.s. I naively let a third party explore some unaffordable complaints with previous payday lenders around COVID time, I recently got £500 back, they deducted £180 for their fee! Definitely doing the “proper” affordability complaints myself.

Out of interest, how long ago were the payday lenders used? I got caught in the payday loan trap and ended up paying them all off in full after defaulting but this was probably more than 10 years ago now so I don't have any records or info, I'm curious if I can still claim against these. 

You have to complain within 6 years of the event happening or within 3 years of becoming aware you could complain. The latter will be difficult to argue although I have successfully argued it with one complaint 7 years later. It's going to be difficult lt to complain about something 10 years later as lots of records may not exist any more. Also a lot of payday loan companies have gone out of business so there might not be anyone left to complain too. 

Ahhh, never mind then. I'd be hard pressed to remember who they were with to be honest barring a couple of them. 

Hi Always Fishing,

I am a bit stuck with how I go about doing the affordability complaints, I’ve followed the Debt Camel advice so far.

Could you share how you approached this? 

Presumably I need to cross reference all debts with my credit file and make a list of all loans/cards I can complain against? 

Always_Fishing

Avante_2 said:

Always_Fishing said:

Rob5342 said:

Always_Fishing said:

Avante_2 said:

Always_Fishing said:

Avante, just as an FYI for you, I've sent off all my affordability complaints today, it was easy enough using this link that was shared with me on my post https://debtcamel.co.uk/refunds-large-high-cost-loans/

I've already had a couple of responses just asking for some personal details to identify the account or an acknowledgment of the complaint, not much yet in the grand scheme of things but its another step forward that's quite simple to do if you want to keep the progress going!

Well done so far, looks like you're on a roll.

Thanks so much for this Always Fishing,

This was tomorrow’s task as I spent most of today sorting out the details on previous posts but progress is progress! 

You’ve given me a nice head start on tomorrow’s task so thanks again. Please let me know how you get on, be interesting if NewDay treat us the same/different (I know individual circumstances differ).

As Rob previously mentioned I’m going to expect nothing and be pleasantly surprised if I get anything.

p.s. I naively let a third party explore some unaffordable complaints with previous payday lenders around COVID time, I recently got £500 back, they deducted £180 for their fee! Definitely doing the “proper” affordability complaints myself.

Out of interest, how long ago were the payday lenders used? I got caught in the payday loan trap and ended up paying them all off in full after defaulting but this was probably more than 10 years ago now so I don't have any records or info, I'm curious if I can still claim against these. 

You have to complain within 6 years of the event happening or within 3 years of becoming aware you could complain. The latter will be difficult to argue although I have successfully argued it with one complaint 7 years later. It's going to be difficult lt to complain about something 10 years later as lots of records may not exist any more. Also a lot of payday loan companies have gone out of business so there might not be anyone left to complain too. 

Ahhh, never mind then. I'd be hard pressed to remember who they were with to be honest barring a couple of them. 

Hi Always Fishing,

I am a bit stuck with how I go about doing the affordability complaints, I’ve followed the Debt Camel advice so far.

Could you share how you approached this? 

Presumably I need to cross reference all debts with my credit file and make a list of all loans/cards I can complain against? 

I've sent you a PM

Avante_2

Hi Always Fishing,

I am a bit stuck with how I go about doing the affordability complaints, I’ve followed the Debt Camel advice so far.

Could you share how you approached this? 

Presumably I need to cross reference all debts with my credit file and make a list of all loans/cards I can complain against? 

I've sent you a PM

Thanks very much  

Martico

Popping in to say - what a good start. And kudos to both the OP for their willingness to listen, take everything in and engage. And to the other forumites for clear and helpful support. It's a great community.
Good luck with it all

Avante_2

Update 12/11/25

I just wanted to comment to say how less stressed I have felt this week thanks to the advice from the users on this post, thank you so much. There has been a notable improvement with my input at work now that I am not worrying 24/7 about my monthly deficit.

I finally feel in control and hopeful for my future finances. I know it is very early days and I will have a long 6+ years ahead of me, but the no longer relying on credit is a fresh start for me and my family. 

To anybody else struggling with debt, you can take back control by following the advice on these forums! 

tigergambit

Glad you're feeling less stressed Avante. It is early days but you now have five months or so to plan your strategy, create an SOA you will share with creditors and start building your fighting fund for F&F offers down the line. 

Try to create an SOA to share that reflects your income and a reasonable lifestyle. You don't have to live on nothing so be plausible but ensure you put everything down, regardless of whether your partner pays (I'm thinking of the car here). Maximise outgoings, minimise income.

This is a long game and there are many ways to play it - just keep in mind that their goal is to squeeze as much out of you as possible and yours is to pay as little as possible whilst avoiding court action. Your first move is really important as it is the foundation on which your strategy is based, so take your time and think carefully. Personally I shared an SOA with creditors as it helped me build a story over several years, but it's entirely optional and You should decide at the outset how You want to play.(You should never share any hard proof such as bank statements.)

Keep coming back when you need support.

Avante_2

tigergambit said:

Glad you're feeling less stressed Avante. It is early days but you now have five months or so to plan your strategy, create an SOA you will share with creditors and start building your fighting fund for F&F offers down the line. 

Try to create an SOA to share that reflects your income and a reasonable lifestyle. You don't have to live on nothing so be plausible but ensure you put everything down, regardless of whether your partner pays (I'm thinking of the car here). Maximise outgoings, minimise income.

This is a long game and there are many ways to play it - just keep in mind that their goal is to squeeze as much out of you as possible and yours is to pay as little as possible whilst avoiding court action. Your first move is really important as it is the foundation on which your strategy is based, so take your time and think carefully. Personally I shared an SOA with creditors as it helped me build a story over several years, but it's entirely optional and You should decide at the outset how You want to play.(You should never share any hard proof such as bank statements.)

Keep coming back when you need support.

Thanks Tiger,

Good point regarding the SOA, I can factor in the car & car costs, in reality I have been covering these for 10 months anyway and my partner is going back part time it looks like.

I will take your advice onboard, I think when you initially speak with StepChange you feel enthusiastic about repaying as much as you can to the DMP and over commit, initially my repayments were going to be £1300+?! With a proper SOA its more realistically going to be £300-400 spare per month to pay once defaulted.

I am looking forward to changing my spending habits and accruing an emergency fund, I have got into the habit of just putting everything on a credit card and once maxed obtaining a loan to repay the card, but then racking the card up and having a loan to pay for too!

I think I may have some scope for affordability complaints, at my last I&E my monthly income after all minimum debt payments was -£1600!

Lurcher99

Hi, I had advice on a forum on here a couple of months ago which I cannot find. This may help others and some of you may have advice, 
So far, I have credit card debts that I've been paying via Stepchange since 2019. PRA are the most greedy when it comes to offering a settlement figure.
In August (on the advice of the forum) I sent the letter to them asking for the CCA proof. All but one PRA debt came back as 'Unenforceble'. My intention now is to pay off the one 'enforceable' debt to PRA, then cancel my DD to Stepchange. I then intend to self manage and pay all of the others at 1 pound a month for the next few months to see their response and see if they 'Magic' a credit card agreement out of thin air.
Any advice or comment very much appreciated.

Rob5342

There's no need to pay them anything if they can't produce the cca, if they do produce it later then just start paying them again 

sourcrates

Lurcher99 said:

Hi, I had advice on a forum on here a couple of months ago which I cannot find. This may help others and some of you may have advice, 
So far, I have credit card debts that I've been paying via Stepchange since 2019. PRA are the most greedy when it comes to offering a settlement figure.
In August (on the advice of the forum) I sent the letter to them asking for the CCA proof. All but one PRA debt came back as 'Unenforceble'. My intention now is to pay off the one 'enforceable' debt to PRA, then cancel my DD to Stepchange. I then intend to self manage and pay all of the others at 1 pound a month for the next few months to see their response and see if they 'Magic' a credit card agreement out of thin air.
Any advice or comment very much appreciated.

Well the first part of your strategy may hold some water, no one is going to "Magic a credit card agreement out of thin air" if the original creditor can provide sufficient information to populate a copy agreement, re-con or otherwise, then they will send you it, if they can`t they won`t.

You should not pay anything towards an unenforceable debt, otherwise what was the point of asking for the information in the first place.

As Rob says, if they do produce a compliant copy, then you can re-start payments, until then pay nothing.