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[flamingate]

When doing a DMP with stepchange ?


Do they require you to post your paper bank statements to them ?

What things do they require you to send them, in the post, outside the phonecall ?

[Carla]

Hello flamingate

I am not doing my DMP with StepChange so I am not sure about their specific criteria. However as far as I am aware most debt management companies do ask you to provide proof of your income in the form of 2-3 wage slips and your living expenses in the form of 2-3 bank statements. However given the DMP is informal I do not think it matters if you do not send these things in. I know that you cannot be forced to do so.

[flamingate]

I know that you cannot be forced to do so.

Thanks

You mean legally that you are not forced to give so ?

[Melissa S]

Hi there flamingate
As far as I am aware Carla is right and you are not legally bound to supply the bank statements but it may help to do so. I would speak to Step change and ask exactly what they require from you for your DMP, they are there to help you.

[Hayden]

Hello flamingate

There is now law surrounding the DMP solution. It is purely an informal agreement between you and your creditors (in your case negotiated by StepChange) to reduce the payments you make towards your debts. As such no creditor can legally force you to produce copies of your bank statements.

Having said this as Melissa has suggested if you are prepared to give information which backs up your income and expenditure statement such as copies of your bank statements this could mean that your creditors are more willing to agree to your DMP payment proposals.

Having said that I know that many people do successfully set up DMPs without showing any bank statements or wage slips. Carla, can you confirm whether you did this when you started your DMP?

[Carla]

Hi there Hayden

You are right. I did not give over any of my bank statements when I set up my DMP and it has never been an issue. I chose to work with a company that charges fees to manage my DMP and this has always worked for me. I am not sure if the situation would be any different with a company like StepChange. Have they specifically asked you for bank statements flamingate??