Hi I am new to the forum but have been looking at similar posts etc to try and get my head around my situation etc. This site is incredible and has given me the confidence to fight my alleged debts. I entered a DMP in 2004 as got into financial difficulty due to numerous factors. all the debts were obviously taken out prior to this probably late 1990s or early 2000s at the latest. I have dumped the DMP as 12 years on nothing seems to have changed. Was originally told that I would be debt free in 6 years but that's another story. I have SAR'd the DMP company. I am sending CCA requests for any credit card/loan debt. Also have a overdraft debt with Lloyds - sending then a SAR. List of debts below any advice greatly accepted. All below defaulted 2004 M and S Loan now Robway £8k Halifax CC now Cabot £4.5k Lloyds CC now PRA Group £4k MBNA CC now Link £4k Barclay Card (EGG) CC now Cabot £3k Barclay Card (Morgan Stanley) now Link £2 Capital One CC now Lowell £2k Lloyds Loan now Cabot £580 Lloyds Loan now Apex £400. Also my DMP provider put my Lloyd's current account/overdraft on the DMP without informing first saying because I had debts with Lloyds on the DMP then I couldnt bank with them - that was in 2007. I am more than capable of handling the CCA requests etc but will probably need some help with checking the agreements when they come back. Also seems like the DCA's are escalating a lot to court these days. Again I will have no issue defending any claim that can be defended with some assistance if possible. Thanks in advance.

I've been on a DMP now for over 7 years and am looking into what I should be doing now. There are 6 accounts remaining on the DMP, 2 of which have been reassigned and are wtih Debt Colletion Agencies, the other 4 are with the original creditors. Default Notices were served on all these accounts and my credit file is no longer affected by them. I've had a look through some of the threads on here and it seems that I should be issuing CCA requests to the DCAs at least to see if the debts are enforceable. Just wondering what the position is regarding accounts still with the original creditors. I have a few concerns about doing this though as the DMP is running smoothly and I am planning on applying for a mortgage soon so am worried that by issuing CCA requests, the creditors may be triggered in to starting court action. just wondering if it is worth doing it now or waiting until I have a mortgage. Any advice would be appreciated.

Please help, I'm not sure how to handle this claim and don't want to get it wrong! Name of the Claimant ? Hoist Portfolio Holding 2 Ltd Date of issue – 30th Aug 2016 Date to submit defence = - by 4pm Friday 30/9/2016 What is the claim for – 1.The claim is for the sum of £13718 in the respect of monies owing pursuant to The Consumer Credit Act 1974 (CCA) under account no xxxxxx-xxxxxxxx. The debt was legally assigned from Santander UK PLC to the claimant and notice has been served. 2.The defendant has failed to make contractual payments under the terms of the agreement. A default notice has been served upon the defenadant pursuant to Section 87(1) CCA. 3.The Claimant Claims: 1. The sum of £13718 2. Interest pursuant to s69 of the County Court Act 1984 at a rate of 8.00 percent from the 13/8/16 to the date hereof 12 days is the sum of £36.08 3. Daily interest at the rate of £3.01 4. Costs What is the value of the claim? £13718 Is the claim for a current account (Overdraft) or credit/loan account or mobile phone account? cahoot Flexible Loan When did you enter into the original agreement before or after 2007? 20/05/2002 Has the claim been issued by the original creditor or was the account assigned and it is the Debt purchaser who has issued the claim. HPH2 Were you aware the account had been assigned – did you receive a Notice of Assignment? No Did you receive a Default Notice from the original creditor? Yes Have you been receiving statutory notices headed “Notice of Default sums” – at least once a year ? Yes Why did you cease payments? Had a Debt Managemant Plan set up with Payplan from February 2010 of which Santander had agreed to being paid £66.27 per month However, they refused repeatedly to freeze the interest unlike the other creditors in the DMP. This was adding around £200 per month in interest in January 2011 I stopped paying the DMP as it seemed pointless as it would never reduce the debt. The original debt was £10804 at the start of the DMP but 11 months later was £13718 due to them being completely unreasonable. What was the date of your last payment? December 2010 Was there a dispute with the original creditor that remains unresolved? Only with regards the interest whilst in a debt management plan Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt management plan? Yes, as described above. Payplan had requested all creditors freeze interest and all agreed except Santander. Many Thanks. Brief background: In early 2010 after trying to keep a failing business going I was left with various credit card and a flexible loan debts and the combined monthly repayments became unbearable. I entered into a debt management plan through Payplan paying £324 per month to 6 creditors. By January 2011 the business could no longer trade as I lost my premises and then a few months later lost the house. I considered bankruptcy for the first few years but could never manage to raise the fee (about £750 at the time), then as time passed and I lived in various places the letters became sporadic and it was easier to ignore the few that came. I've had plenty threatening court action from all the usual DCA's and nothing happened until now. I was looking forward to another 4 months hoping it would be statute barred but Hoist have other ideas! I've tried to get an idea by reading all the forums but was wondering if I can do a CCA request for a flexible loan? Also, when checking the FCA register the DCA's licenses don't seem to be active - is this relevant and can it be used? FCA license for Howard Cohen (Cohen Cramer Ltd) Current Status: Lapsed , Permissions Inactive 31/10/2015 FCA license for Hoist Portfolio Holding 2 Ltd Current Status: Cancelled , Permissions Inactive 30/09/2015 I have registered with MCOL and done the acknowledgement on the 8th Sept 2016 and stated I wish to defend the whole claim, problem is I don't know the best way to do it. Any help would be greatly appreciated. Forgot to add, the solicitor on the claim form is Howard Cohen & Co, Leeds

We currently have about £6k outstanding of a DMP we have with Stepchange. We have been repaying for about 11 years and had 1 year left except my wife lost her job which knocked the payment right down and now some of the creditors are starting to harass us. BIggest concern is Barclaycard. My parents have offered us £1800 to act as a full and final settlement but looking around I came across this forum and 'Cash cowing'. Now i'm concerned what the best way forward is. Debts are: WESCOT CREDIT SE... £1,331.49 LLOYDS BANK PLC £1,245.25 LLOYDS TSB CARDS... £1,106.58 MOORCROFT DEBT R... £457.56 CABOT FINANCIAL ... £365.77 WESCOT CREDIT SE... £339.64 WESCOT CREDIT SE... £325.57 BARCLAYCARD £324.52 Wescot Credit se... £261.24 What is the best way forward? I remember CCA'ing Barclaycard previsously and they have the original agreements as do Lloyds.

Good afternoon The company I worked for has gone into administration, I have no wages coming in as now unemployed so will be unable to make a payment to my DMP (Stepchange). I have informed them but am wondering what my creditors are likely to do now. No jobs in the offing at the moment so no income at all Thank you

Hi I have applied for a CTC for a job transfer. I am currently in a DMP which I have been in for over a year and a half and have not missed any payments. I have a number of defaults as a result of getting into financial difficulty a couple of years ago, however I have declared on my CTC that I have been in financial difficult but have now been on this DMP.. .. will this affect my CTC? I have no CCJs etc, just defaults (more than 3). But I have been honest with them and showed that I have taken steps and in a better position as a result!

Hi all, I have been referred here by a colleague whom you all provided excellent advice: I will get straight into it the issues: Years ago (between 6 and 8) i made a number of poor decisions that lead to a lot of debt, this in turn lead to some serious mental issues and head getting buried in the sand. Couple of years ago I wanted to sort it out so I contacted step change and arranged a DMP and have been making payments ever since, payment currently £126 against a balance of £11000. The following questions are worrying me though and I need to get out in front and not take the risk of more head issues. One debt I could never find ownership of it was a credit card with Tesco balance of around £3,500 so it was not added to the plan, thought nothing of it until a letter dropped on the door from a DCA chasing this balance, I requested a copy of the credit agreement and haven't heard anything since assumption is that they do not have a signed agreement, i asked them when they received the last payment they confirmed November 2010 effectively very soon this will become statue barred, with this one I have three options do nothing and wait to see what happens, make a ridiculously offer of a final settlement was thinking £100 or add it to my dmp with step change. Secondly around the same time I was CCJd for a debt with HFC Bank around £4,500 and I haven,t paid this for a similar amount of time, every time I speak to step change they tell me it is urgent and I need to take action but I am fairly sure whoever is responsible for the CCJ do not no where I am living and contacting them seems like a bad idea what honestly do you think I should do in regards to this ignore or contact the courts? My life is totally different now I am paying things off and have a young wife and daughter and am now making steps to earn good money, the last thing I would is for a bailiff to show up at my door, I would prefer to commence payments again but unsure whether they would want the missed payments in one lump which I cannot do, I can prove the mental health issues that I was experiencing but unsure whether this would make a difference. Anyway your help will be very much appreciated. Thanks

Hi all not been on here for many years but i hope im asking in the right forum, if not please move Ive got a DMP had it for several years slowly steadily paying my debts off . The thing is my dad owns a few houses and to offset any inheritance tax he's thinking of putting a house in my name, now if he does and i sell the house ill have x amount in my bank and if my creditors see it they will want or even might want their share. I want to put the money into a project that will earn more money which means i can pay my creditors off when it suits me Now my question is: can i put my dads or someone elses bank details on the conveyancing form so the money will not go into my own bank account? Or is it a legal requirement that the house owner has to put their own bank details for any monies to be paid into? thanks

Hi, I've had a read through previous posts and was hoping for some advice on our current situation. We entered debt management plan in Jan 2013 (70k credit cards & bank loans). Never missed on mortgage payments (1 residential & 2 buy to let) and these are currently up to date. We have a couple of properties which have finally increased in value and are hoping to sell this summer and get back on track. Our DMP has always been up to date. We were wondering what our chances were of obtaining a mortgage in future once we come out of the plan. Both of us have good jobs and stable employment. Also - if we went for part/full settlement of our debts does this pose an increased risk? We were hoping that if we went for part/full settlement we would be able to save and get another residential mortgage in a year or two - not sure if mortgage company would look at us - any thoughts? Really appreciate any help and advice as this DMP is a weight round our necks that we really want to get rid of as soon as feasible (never paid a bill late until we entered into this but was unavoidable due to significant change in circumstances). Please be gentle as I am not overly familiar with protocol on forums. Thank you for reading

Back in 2008 I entered into a DMP with PayPlan, at that time I had 5 creditors, 2 of which were MBNA. I have now repaid in full all of my creditors. During this time MBNA passed my 2 accounts to Moorcroft Debt Recovery, no defaults were issued and as far as I can recall I did not receive any notice of assignment. After passing to Moorcroft payments continued to be paid by Payplan. Soon afterwards 2 DMP flags appeared on my credit file, in addition the balance was being updated on a monthly balance, showing a reducing balance. I understand that these DMP flags will remain for 6 years from last payment. What I am trying to find out is are Moorcroft allowed to update my credit file if they are not the original creditor? Or if it has not been assigned to them. I thought only licenced credit agencys could update your files. Bottom line is I would like to find a way to remove the DMP flag and I thought if MBNA passed the debt to Moorcroft and debt is now settled I could request the removal of the DMP flag as it was only applied after Moorcroft took over the debt and who are not allowed to update the CRA as not licenced. I hope it makes sense. Thanks in advance for any advice.

Hello CAG, Firstly can I say thank you to you all for your time and effort put into this site, if it wasn’t for yourselves I personally wouldn’t of been able to reclaim just under £3k for myself or of helped at least 20 of my friends all reclaiming tens of thousands back in unlawful Bank charges. So a massive thank you from myself, family & my friends. Now I find myself in a slightly more technical and difficult situation & in need of direct help. Before the last recession I was self-employed, earning very good money. I bought a property to do up, utilising the interest free cards that were being thrown at myself. And then came the recession and boom......sod all work and on the dole! I contacted the CCCS in Sept 2009 who did there magic resulting in myself using one of your template letters & sending to my creditors, advising of my debt management plan & offering £1 pcm as a token payment with all interest charges to be suspended. All agreed and have been making the £1 payments to date. My current situation is. A&L - sold to CAPQUEST - £8300 owed - £2900 settlement offered to myself in 2010 M&S - £1300 owed - £400 settlement offered to myself in 2010 RBS - Letters from Robinson Way - £3200 owed - No settlement offered. Bank of Scott - sold to CABOT - £4900 owed - £2700 settlement offered to myself in 2010 Barkley Card..Letters from CABOT - £7100 owed - £2800 settlement offered to myself in 2010 EGG - £1300 owed - £400 settlement offered to myself in 2010 Now with me nothing is simple. EGG, I have heard nothing from them in the last few years & on a recent check with Experian nothing is shown. I therefore cancelled my £1 pcm payment on Aug 2015. As of yet have not received anything from them. Barkley Card, Now as stated back in 2010 I was contacted by a very understanding and helpful account manager offering the £2800 settlement figure. Due to my situation though I had to pass on this offer. Now back in 2011 & 2015 I did an Experian check and the balance shown on both reports is £2800. Though the letters from CABOT show the original £7100 figure! Now my business is starting to slowly pick up again I would like to clear my credit file and improve my chances of getting another mortgage. I am in no means capable at the minute of paying out £12k. Seeing as all these offers were made 6 years ago should I negotiate a better deal for myself? Any help would be hugely appreciated, thank you in advance.

Ok.. Im in a self managed DMP after an attempt at a DMP with stepchange failed..My creditors have all accepted my offer of £5 a month each and its being going fine for 6 months untill one more debt turned up I had forgotten about.. This debt which was a £52 payday loan had become £181 and although they accepted the £5 offer I looked up the original paperwork and found that the last balance with the original firm ( Ferratum ) was £92...but since being sold on had virtually doubled to £181... This led me to having a look for other paperwork and on my credit file and I discovered that appart from a couple of high street bank debts which have not had any charges etc added nearly all the 'payday loan' type debts have all nearly doubled or in some cases tripled the original debts due to multiple charges..and Ive now worked out that at the current value ti will take me nearly 9 years to pay off all these debts but if I only paid the original amounts ( including interest just not charges ) it would be only 5 years.. Is there any thing I can do about these charges as these firms all seem to be able to charge what they want literally willy nilly and Im not happy to be paying silly over the top charges if I shouldnt have to.. Any advice welcomed

I've read through many articles on here where people are in a similar situation to myself but I really would just like to clarify which way I should turn next. There are a few things I'll post that I now know I shouldn't have done but please bear with me as I try and recount everything. I got in trouble back in 2007/2008 when the property market plummeted. I ended up with around £50k of debt across credit cards and a loan and found myself unable to make the repayments. I spoke with an acquaintance who runs a debt management company and since then have been paying £150 a month of which £125 is split amongst the 4 creditors and the DMC take a £25 fee each month. (I know I should be doing this myself and not paying the fee and going through the DMC but it's been easy for the past 8 years - Now I'm trying to do something about it)! The original debts were as follows (All originally taken out between 2002 and 2005); EGG Credit Card - £11,500 - Now administered by Apex Credit Management MBNA Credit Card - £15,200 - Now administered by Link Financial Lloyds TSB Credit Card - £13,100 - Still with Lloyds TSB Cahoot Loan - £10,600 - Now administered by Deby Managers Limited. I had defaults for each of these which have subsequently dropped off my credit report. My credit score has improved and my ability to get credit at a reasonable rate has also returned. I'm getting to my main questions, please bear with me.... Just trying to fill in all the history. I've also read about reclaiming PPI and charges but I've never tried to do this as I'm pretty sure I've never had any PPI on any credit cards or loans over the years. (I was in the forces so always declined PPI as the monthly payments were lower). I've heard that PPI may have been added to credit card interest payments that people were not aware of... . If this is the case, is it worth trying to see if I can actually reclaim anything? Also, I've read about CCA requests to the companies currently managing my debts. Is this something I need to be doing or will it not help matters in the slightest? If I were to CCA the companies, am I playing with fire in the respect that they may then ask that the debt is repaid in full and if I fail to do so, can they issue me with a CCJ? So, I guess my questions are, in the following order.... Should I try to reclaim any PPI? Should I then CCA the companies currently administering my debts (Will this do any good?) Should I send a letter offering a F and F settlement of the debts before or after I have tried to reclaim any PPI? And finally, in the meantime, should I leave the DMP company and continue doing things myself? Apologies for the ramblings but I hope I've covered everything. Looking forward to some good advice Yosharoo.

Hi all, Well after following all the great advise on this forum CCA letters to creditors etc. I am now in the position where I would like to cancelling my DMP with StepChange, going alone ( only 2 creditor have relevant paperwork ). Ive had a look, but I can't find any template for termination of DMP any help would be great as I'm no letter writer. Do I just request termination or do I have to give reasons etc. Many thanks Helen

I have been on a DMP with the charity Step Change for a number of years, the original debts being a Lloyds Bank loan I was encouraged to take on as a "consolidation" during a bad patch back in 1999, and a credi card still with Lloyds going back the same period, totaling about 20.000 plus couple of "minor" cards and an overdraft, totaling around 25k. After few years of re-payments, I managed to bring back the balance which currently it's around 12.000, however I have recently separated from my wife and this has had a pretty devastating effect, on the financial aspect of things as well as everything else, I have 3 children and things just don't add-up. I currently have access to a relatively small amount of money which is the result of a share of the sale of an old property, about £6'000 and rather than seeing it disappear as they will I am thinking of trying to offer a settlement to the various creditors, who are Akinika Debt Recovery (5.500.00) Pira Group Barclays (1000.00), Npower 707.00), Lloyds PLC (397.00) plus Cabot Financial, who just took over from Allied International Credit and is not currently included in the DMP. As I haven't test spoken to them but they are writing about their acquired balance of £6'321, it seems a bit of a long shot to put an offer to each of them totaling £6000, but the truth is I will have to ty, failing that, due to my new circumstances I wouldn't be able to keep up the £357 monthly payments to Step Change and the only other option I can see would be filing for bankruptcy. With all the consequences of the case on my job etc, in any case I wouldn't know where to start with offering settlements, and above all without risking losing the sum, or how to make sure that they would actually agree for it to be a final settlement and not just an extra payment, and would it be better to approach them myself, as I suspect Step Change wouldn't enter any hard- negotiation of this sort on my behalf? Is there a template letter I could use to get me started? Have I got any real chance here? any help would be greatly appreciated, sorry to be so long

We recently received notification of our successful claim for our PPI refund. They have offered us £5600. However we defaulted on the loan due to my husband losing his job and have been on a DMP. Bank of Scotland debt was transferred to Blair Oliver Scott, who I believe are part of Bank of Scotland. So here's my question... Blair Oliver Scott say the outstanding balance on my account is £2850 of the original loan, which will have included the original loan and PPI, so will they pay this off and send me the the remainder of the £5600??? Secondly we had a loan before this one with BOS that was paid in full that also had PPI, can we claim for this one since I don't have any paperwork or account numbers and it was taken out in 1998. Thanks in advance...

Been in a DMP with Payplan since May 2013, was originally for 4 years but over the last couple of years due to a debt being added and monthly payments reducing this is now showing as ending July 2020! what worries me more is that even in July 2020 we still don't know if that wil be the end due to charges and interest being added. Not even sure if we can both get iva as we have 2 debts with link financial and I have been told they reject a lot of iva's. My worry about an IVA is at the moment of budget is not 100% accurate and would have to change as I know they require more proof of your expenditure. We are currently left at the end of the month with a bit of spare money which allows us to have a bit of a life (money for Xmas for my son and days out for him) on this plan but know we should really put everything into paying our debts off but this way it just makes life a bit for manageable. We currently pay 360 month to Payplan and have £21500 debt left and have paid 12000 off so far. I keep reading lots of stories about iva's that scare me but just want to get this debt paid off. Me and my husband both have old cars and I do worry about replacing them as we both pay lots of money in repairs and mot. Grateful for any advise

Hi Everyone, Newbie here who found this website whilst googling for information on F & F debt settlement offers. I'm looking for some advice please, on our next course of action. My husband and I jointly have 5 debtors, one of whom is our son. We used some of his inheritance money to try and pay off credit card debts when I was made redundant, something we are both deeply ashamed to admit. In 2010 we sought the help of the CAB who arranged a debt management plan with our debtors. We have been paying minimal amounts ever since as we have virtually no disposable income. This what we currently owe:- Tesco credit card debt 2994 Natwest credit card debt 11,811 M & S card 6099 Store card 900 (This account has been sold on to Moorcroft and was the smallest sum!!) Son 9000 We are paying them a total of £25 per month (between them all, excluding son) and as my husband and I are 56 and 57, I don't see our financial position improving substantially any time soon. We have substantial mortgage shortfall on various endowment policies and this needs to become a priority for us, if it's ever to get paid off!! (We re-mortgaged 3 times to pay off credit card debts over the years). due to the changes in the law I can now access a pension lump sum of about £10k and was going to try for a F & F settlement of our debts with this sum just so that we don't have this hanging over our heads right into retirement. I don't see that we will ever be able to pay off the full amounts owed to the credit card companies. Our son has agreed not to press us for any amount now, he knows we have no way of getting more money at present. We will eventually inherit a lump sum from our mother in law and will pay him then, but she's currently in rude health So, should I try and use my pension to pay off these debtors, and is it likely that they would accept such a small percentage of their total debt? We are not worried about what's on our credit record now as it must be totally trashed and we never want another credit card anyway. Also as we are homeowners is it likely that they will try and get money from us if we ever sell the house (which we don't want to do)? Many thanks for any advice.

Hi guys, looking for some advice. I signed up with Spectrum Financial Protection after getting into about £25k worth of debt 12 years ago. They charged me about a grand to set up with them and have taken a percentage of the repayments every month for the duration (I know, I know) and despite the long time frame my debt has barely gone down, due to the token payments of between £1 and £10 a month to each account. Spectrum are now Money Village, and after years of them not doing a lot (Spectrum originally told me I'd be debt free after 5 years) I gave up speaking to them or giving them annual statements of affairs. I still received regular letters from them, telling me the latest DCA has accepted my offer etc etc, but it's the most recent one that I want advice about. They (Money Village) say that as I haven't done a SoA since 2010, and therefore they can't give me the best advice (Lol is all I can say to that). They also say that they are obliged to tell me about free options with other DMPs, and that if I don't respond within 60 days they will stop making payments to the DCAs on my behalf (there are 5, who change every so often). I'm at a crossroads. The debts were defaulted by the banks in 2003, and are long off my credit file - I've had loans since and have managed them well as I was just a silly teenager when I took most of the original debts on. What can I expect if they stop paying my DCAs from August? I don't particularly want to keep on with Money Village anyway, as they've had enough out of me over the years, but at the moment the DCAs don't contact me and accept the payments, so it's been 'out of sight, out of mind' for ages, but this is looking like it's going to change, and I want to be prepared! Any advice would be massively appreciated!

Prior to taking over the regulation of consumer credit in April 2014 we undertook extensive work to understand this market. The results of this indicated that debt management was one of the highest risk activities. We wanted to improve the outcomes for customers and therefore began thematic work which assessed the quality of advice provided by debt management firms. In September 2014, our other supervisory work in the debt management sector demonstrated significant non-compliance with our consumer credit rules. Following a series of targeted visits to firms, we advised that many debt management firms needed to ‘raise their game’. Our thematic review assesses the level of compliance with our existing rules – most of which are based on the Office of Fair Trading’s (OFT) former Debt Management Guidance. It does not establish any new standards or expectations. http://www.fca.org.uk/your-fca/documents/thematic-reviews/tr15-8 It is very good to see that the 'free' services offered were substantially better than the fee charging ones. It is only 40 pages long and is quite easy to read.

Hi everyone, this is my first post so my apologies if something similar has already been posted. I need advise on a couple of points about the dmp I'm on. I am current 5 years into a dmp with Eurodebt (I know its not great being on a paid for dmp, but it has served its purpose, also i'll get into this shortly) and have four creditors with a current total owed of around 23.5k. Of the four creditors, 3 have placed the accounts into default which are due to clear from my credit history within the next 12 to 18 months. However, after looking at my credit file properly for the first time in 4 years I have found out that the Barclaycard account I had (now managed by Link Financial) has never been defaulted but just listed as 'payment upto 6 months late' since December 2011. I really need some advice of how to move forward with this. I am in a position to make a full and final settlement to them and they are willing to accept £1300 from the £2400 that’s owed. However, I am concerned that my credit history is going to be showing the late payment markers for 4 years after the others have dropped off, even though this would be the only one I have paid off. Is there anything I can do? Secondly, I could do with some info of how to move my dmp forward without using Eurodebt, as the £45 a month fee would be better served paying my creditors, not to mention straight away taking the expected repayment date from 29 years to 18 years! I have looked at Step change, but I’m not sure whether I should use them or look at doing it on my own (although this does seam a little daunting). I can only blame myself as I should have looked into this sooner, but at least its now time to do the dmp properly. Any help will be greatly appreciated, as I finally look to get my life back on track

So myself and my wife have been on a DMP with Stepchange since 2009. Before I go onto the specific topic id like to say how helpful they have been over the years and completely free unlike euro debt who I stupidly went with to begin with. Anyway back on topic, we are in the fortunate situation that we have some money coming our way soon which we want to use to pay the debt off but we also are aware the creditors might accept a lower percentage to settle the debt. In total we owe around 10 different creditors between us, all credit cards and student overdrafts. We lived beyond our means which got us into the debt and learnt a valuable lesson. We have paid off just under 10k at £185 a month for the last 6 years (never missed a payment but that doesn't seem to count for much). We have 9k left to pay off. Our query is that we want to buy a house once the debt is clear and built up our credit score again. If we offer for full and final settlement say at 60% of each debt will this be recorded on our credit file as only partially settled and would it affect a mortgage application further down the line? Or would it be better to settle in full in terms of our future credit score and mortgage application? I hope this makes sense. Thanks in advance for all your help.

hello, first time here after reading some posts thought I would join in the hope I could get some advice. I have a dmp with pay plan, had since 2011. 5 creditors and according to my pay plan summary have approximately £10,700 remaining to pay. My review is due however I am now in a better position financially and want to get my debts paid off quicker. I looked into a loan to consolidate just to see what the monthly payments would be over a 3 year term and it would be manageable. The issue being that I would be unable to get a loan. I want to look into the option of ending my dmp to try and get my debts paid off sooner, ideally within a 3 year timescale. There are 2 creditors that I could pay off within 12 months but as pay plan payments are set, the dmp wouldn't allow for this. I'm worried however if the creditors returned to the previous payments with additional interest that I wouldn't be able to go it alone. If anyone could possibly give me some advice as to what my options are, whether negotiations with creditors are possible and what I need to do it would be massively appreciated. Pay plan are hounding me for my review however I don't want to speak to them until I know what my options are as to whether I can get rid of this debt quicker. Many thanks

Hello. Im thinking of asking stepchange to setup and manage a DMP for me. from experience are these good people to be dealing with? , do they have decent clout in the market to help keep the creditors of my back?

Hi Guys, A whilse since I've posted but have finally kicked the DMP Company and doing it myself. I have writting and sent the letters stating my proposals to the three companies all of which have been increased as I have been able to distribute the fee I was paying to each creditor. I have also asked them to keep the accounts in the state they were in when I left the DMP. I.e with interest frozen. Have I done the right things here? I want to clear these debts and I think this is the best ways of doing it. On another note, if they were to charge interest, does anyone know what the likely rates will be? I have two Bank of Scotland and one now with Wescot. Thanks for your help!