In this era of the rising debt, it is understandable that paying off the debt, can turn out to huge turmoil for you. This is why step change is here to take one step ahead of you and help you get the maximum help to the riddance of debt. If unfortunately, you are one of them, then we assure you that this article will put your troubles at ease. 

What Exactly Is Step Change?

Well, in simple words, stepchange is an organization specifically built to help those who are in debt. You might be wondering how can it be easy to control the financial status without paying the debt off? 

This is why step change has many teams of experts that work with debt management, just for you so that you can get rid of the debt.

Ways In Which Stepchange Will Benefit You

At this point, you might be thinking of all the debt that’s been stressing you for a long time. So, we’re here to let you know that your stress will go away once you get to know what we have in plan for you. Here’s how it’s going to benefit you and your financial situation, in the long run.

1. Your Budget Will Be Worked Out

Based on your budget and expenses, we will work out a plan for you that will help your financial state. So that you can stabilize in such a way so that you will be able to save expenses. 

2. Your Debt Will Be Reviewed For Solutions

On the basis of the debt that you have, it will be analyzed thoroughly so that we can list out possibilities,  to help you clear them off. Our debt management team makes sure you are at ease at all costs. 

3. Longtime Support

You will be provided with long-time support from us as much as you’d like to take. Regardless of your situation, our empathy and your confidentiality are sole with you and us. Your trouble will be discussed and will be looked into. 

What Step Change Has To Offer You!

In today’s timeline, the flow of money increases so much that it has become a serious issue in life. As debt increases, the downside of the financial state of a person increases simultaneously. 

For these reasons, step-change is here to offer you awareness and free debt help by giving you the optimal advice that you need. Not only do we provide campaigns to create awareness but we also make sure that you can get better at managing your money. 

Our key goal is to give you the right education through our debt help advice by directly engaging with you. Also discussing the possible solutions that work in your favor. And based on that giving you solutions to resolve the issues.

Must Know About Debt, Its Drawback and Solutions!

If you’re in debt then first you need some knowledge on the type of debt you’re dealing with, what could go wrong and what you can do to prevent the hassle. Here’s all that you need to know:-

1. Tips To Handle Bailiffs

Bailiffs are sheriffs that handle the writs and processes. They are also known as the enforcement agents who are informed by the debt collection agency in case you failed to clear your debt. Here’s what to do if you ever get visited by one:-

  •  Stay at ease and speak firmly about your situation. Offer them a mode of payment that you are able to manage. It is advisable that you do not generate any sort of anger while speaking as it may make the situation worse. 
  • Make sure the doors of your house is locked, instead speak to them outside of your house. This is suggested as a bailiff does not have a warrant to enter your house unless you permit voluntarily upon asking. 
  • Make sure that you have all the paperwork with you in case they ask you for it. And return, keep in mind to collect every receipt that you get.

2. Tackle County Court Judgement (CCJ) The Right Way

This is basically is a court order that specifically implies that you will have a period of over two exact weeks to clear your debt. Since its a court order, the significance and actions taken for it are serious. 

  •  You will receive a claim form from the court, you will have a time period of 30 days until you respond and here’s what you need to do:-
  •  First, reply to your creditor and then fill out the form by enclosing it with an offer to clear off the payment in breaks if you are unable to pay the whole amount of debt. 
  •  Get into an agreement with your creditor to avoid the court action, which would include you to come into a mutual settlement. 

 In case it does reach the court, then submit the court forms and then you shall be paying the said amount of money on the time period that has been assigned to you. It is important that you deal with these matters with seriousness and on the said time period. 

3. Think Through If You Consider Taking Payday Loan

If you are the verge of considering taking payday loans then it is advisable to try avoiding it as they come with interest. As a result, if you fail to pay for the unpaid balance then you will have an extra amount of interest to pay for. 

 The downside of this situation is that you will be giving out extra money which will be of a great amount if summed up. However, if you feel strongly about taking a payday loan then first figure out how much will it be by the end of the payment date. 

4. Debt Management Agencies Charge

Many companies over the world have been known to take an amount of money as a token of charge to provide you a debt management plan.

In contrast, step-change will not ask you for any form of charge as the services that we offer to you are, of course, free. As per the advertising code, we follow them sincerely. 

The advertising code specifically implies that:-

  •  Any debt management company has no permit to take any amount of charge from you other than the response charge as well as the delivery cost. 
  •  Products that any debt management companies provide for financial purpose, should present them in such a way that the consumers understand them by heart. 

5. How Debt Consolidation Exactly Works

This type of loan payment methods specifies the use of another credit that is new, to pay off the previous debt on the existing credit outstanding balance. You must think through, assess and calculate the end results of choosing this method, as the debt collection agency will not excuse anything. 

While many might consider debt management and debt consolidation to be the same thing but on the contrary, they are quite different aspects. As a result, it may not be the right option for you if you had a failure in clearing past debts. 

Hence, we would advise you to have an unbiased advice before you settle in.

6. How You Can Deal With Government Debt Advice Companies

Many debt advice agencies have this tactic of advertising their service by mentioning that they provide “Government Debt Advice”, which is nothing but a way of making their services appealing to those who seek at the time of debt trouble.

It is recommended that you be aware of the trusted and untrusted agencies. But on the other hand, these companies will be providing these services:-

Personal Bankruptcy-The irony of this solution is both solvable and unsolvable at the same time. 

It is meant for those people who have very less amount of hope for clearing off their debts, 

Free Suggestions To Help You With Your Debt!

Without taking any charge from you, we will provide you with solutions, entirely based on what you tell us, discuss with us. We also make sure that your information stays safe with us as we strongly believe in client confidentiality. To begin with, here’s what you need to collect:-

  • Your house bills 
  • Travel costs
  • Food and living expenses

 Based on these expenses, we will ensure that the ratio is within your comfort so that you can manage to pull through. 

 How Debt Management Plan (DMP) Works

In case you’re wondering, a debt management plan is basically a plan that we provide you to cut down your monthly expenses to a certain amount so that you can manage your budget. As most companies will charge you an amount for it, we give it to you free.

How DMP Is Helpful

Here are some uses of DMP that will help you get through with ease:-

  1. You will not have to give any amount of charge. 
  2. Since your monthly expenses will be cut down, you will have a certain budget from which you can pay off the creditors gradually over the course of time. 
  3. As you pay us monthly, we will take care of the creditors for you, on your behalf. 
  4. You will have us review your progress in paying off monthly.

Drawbacks Of DMP

Even though we will have your back, you will still encounter some minor setbacks that you must take in account. It is important that you know them and assess a plan to deal with them firmly:-

  1. Creditors from debt collection agency will try to get in contact with you 
  2. Creditors might try to increase the interest charge.
  3. Even though we will ensure that your creditors get the payments, however, they still do not have the necessity to always agree with the reduction in payments. 
  4. Your creditors can and have the authority to take actions that deal with the court. 

DMP Application Process

If you’re en route to apply for a DMP then here’s what you need to do:-

  1. Assess your finance and situation and decide if it will work in your favor. 
  2. You will be given a personal action plan fully based on the information you provide to us. 

How DMP Relates With Credit File

DMP is meant to affect the areas of your credit file. This is because you pay less than the average amount. In any case, if you fail to pay for an amount then the records will get removed in 6 years. 

What Is Individual Voluntary Arrangement (IVA)

Much like DMP, the individual voluntary arrangement is a kind of agreement in a formal way that will permit you to pay off the debt in an affordable amount over the course of six years. Now, by the end of the course of these 6 years, you will also have an option to pay off in a lump-sum amount. 

  So if you’ve been thinking what is an iva and how it will help you, then here’s what to look at:-

  •  You can pay off your debt in an affordable range that fits your financial status and in addition to this, you are fully free to keep your house if you continue to keep paying. 
  • Before you opt for IVA plan, you will not have to pay any sort of fees. However, after signing up for it, you will only have to pay your monthly payments which you and the creditors agree on. 
  • You can choose to pay a whole big amount as a one-time payment option, or you will have the option to break them and then pay. And once you are done paying every last bit of your debt, you will no longer be liable for the creditors for a pursuit.

Drawbacks Of IVA

Keep in mind that there are some trivial drawbacks that you need to consider:-

  •  If you have equity set up at home, then your interest rate might go higher than usual. In that case, re-mortaging will be helpful. In case you fail to re-mortage, you will have to make payments that will be extra. 
  • Your credit will have a negative effect, especially if the IVA plan fails for you. And in addition, your IVA will have a public record.

Steps To Apply For IVA 

If you are considering to sign up for individual voluntary arrangement, then this what you should do:-

  • First, assess and understand if this is the right plan for you, based on your credit history and debt.
  • If you feel that this plan is the right plan fro you then reach us out to help you sign up for it. 
  • Once you’re all set up, we will forward your IVA proposal to your creditors on your behalf. 

Reach Us Out Today!

If you want to get a load of debt off your shoulders then reach us on our stepchange contact number 0800 046 5868 at any time so we can discuss your situation and get started. In addition to this, we ensure that you will be on the right track of finance and given various possible solutions to clear off your debt, as easily and as quickly as possible! All you need to do is visit our stepchange login page and get the budget form right away!