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Review of the StepChange, Debt advice:

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StepChange Saved My Life !

I suffered an accident at work. After my employer terminated my employment on grounds of disability my credit card which I managed previously began to gather interest rapidly as I had no income other than disability benefits. I had completely cut all my Sky TV and other expenses. I transferred my card debts to balance transfer cards which soon started charging interest. I got 2 months into arrears with my house mortgage payments. I was only eating beans as I could not afford food. I was using what little money I had to pay the minimum monthly card fees but due to cumulative high interest my debts quickly spiralled to £20,000. I had withdrawn my private pensions to keep a float which became exhausted. At this point I was in a dire situation and extremely distressed. I had no money to buy food or pay my mortgage. I had followed the great Martin Lewis Money Saving Expert advice previously on balance transfer cards which did help but only prolonged the inevitable. My daughter told me about StepChange on how they might be able to help me. I contacted StepChange and the staff listened to my situation. They were so kind and supportive and gave me some options. They advised me that they were a debt management charity and did not charge a single penny for their help and support. I was literally fading away with the stress of sinking deeper and deeper into debt with no way out. They literally threw me a life line by offering to provide me with a debt management plan. DMP. This is a voluntary plan that creditors do not have to by law participate in but in my experience they all usually participate if they can be provided evidence that you had fallen on hard times. StepChange looked at my benefit income and formed a plan to repay my card companies back at £5 per month each with a £46 monthly payment to my mortgage provider. The interest on the cards was set to zero so that I could begin to slowly pay down my debts. That was three years ago. My mortgage arrears are repaid and I’m paying £86 per month to StepChange who distribute this to each of my credit card companies. If you can imagine praying for a nightmare to stop StepChange made that happen. They do not give you money but they do liasuse with all your creditors to implement in my case a DMP at 0% interest. I have so far reduced my debt from £20,000 to £15,000. I wish I had contacted StepChange earlier as I would not of incurred all the extra cumulative high interest and deep debt stress. The DMP has to be honoured or there is presumably an option for the creditors and StepChange to cancel the DMP. You can manage your DMP by logging into it to see your debts and manage living expenses. You are expected to carry out an audit every year to adjust living expenses. The way I see StepChange is that they literally saved my life ! If you are going through any kind of financial hardship phone StepChange as they may be able to help and all their advice is totally free ! I cannot praise StepChange enough and vowed that if I ever win a lottery I will donate a large portion to them for saving my life. Give them a call they could sort your life out ! Reviewed on: 27th May 2026

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