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DMP, DPP or try pay off catalogue debts first to avoid massive interest and fees

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Contacted Stepchange, considering DMP, afraid of Shop Direct etc continuing to add on interest and late fees, have been charged hundreds over last few years, if I can get any back that would help.


VISA 5300 no missed payments

ISME 1600 (570 in arrears, not making min payments at moment)

FIFTY PLUS 440 (100 arrears)

KandCo 60



TSB 500

CO-OP 400


Income 1150 mthly. Basic outgoings 900, min payments 320.

Am thinking of paring food, etc right down to £25 week just to try to get rid of the catalogue debts. They are already phoning every hour or less, not answering at moment. Letter from one asking me contact Reliable Collections.


Would just go with Stepchange if not afraid of cat debts going up instead of down. Any advice much appreciated, apart from anything else I need to figure out how to do SAR to them. Thanks.

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Based on a quick calculation and without knowing your entire circumstances, I calculate that you have debts of £8590 as the balances stand at the moment. If you entered into DAS with a disposable income of £80.00 per month you would repay in 9 years with interest frozen from the point of application and any assets you have would be protected.


If you choose to go down this route it would be wise to process the application through one of the free agencies to avoid fees.


Visit Money Scotland .Co .UK

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