Tips on setting up your debt management plan (DMP)

Agreement

You should always read your agreement before signing it.

Your signed DMP agreement lets us know that you understand:

• What is expected of StepChange, and
• What is expected of you

So that we can get your DMP set up quickly, make sure that:

• Your name is entered correctly
• Your agreement is clearly signed and dated

Setting up payments

If you want to make payments by Direct Debit, you will need to complete a Direct Debit mandate.

Many DMP clients prefer to pay by Direct Debit because:

• Payments are taken automatically – you do not have to do anything once it is set up
• Payments are taken on the same day every month

So that we can get your Direct Debit set up smoothly, make sure that you enter your details correctly. We will need:

• Your name, as shown on your bank account
• Your 6-digit sort code (for example, 12-34-56)
• Your 8-digit account number (for example, 12345678)

We will not be able to set up your Direct Debit if:

• Your bank account has an overdraft which is included in your list of debts
• The details you entered are incorrect – always double check
• You want to set up a Direct Debit from another person's bank account

If paying by Direct Debit does not work for you, you can pay by standing order instead. This lets you pay on a date of your choice.

You can set up a standing order in a few ways:

• On your banking app
• By online banking
• By calling your bank

When it is time to set up your standing order, we will give you our bank details and information on what to include in the payment reference. This will happen when:

• You have signed and returned your agreement
• Your income has been confirmed
• You have given all the needed information about the debts included in your DMP
• Your plan is ready to start

Proof of income

To make sure your DMP payments are set at a rate you can afford, we need to check your income.

Income can be tricky to work out, but we are here to help.

Before you upload a photo or scan of your wage slip or benefits letter, check that:

• The photo or scan is readable and not blurry
• Your name can be seen in the photo or scan
• The date of the wage slip or benefits letter can be seen in the photo or scan
• The amount you earned can be seen in the photo or scan

If you have a two or more streams of income, we only need to see proof of your highest income.

We understand that income can sometimes vary, and that there are many reasons this can happen.

• You earned more due to overtime
• You earned less due to sickness
• You received a bonus or commission

It is important to be honest if the amounts do not match. As long as the difference can be explained, your budget will not have to change.

If your income changes each time you get paid, you will need to upload three of your most recent wage slips.

Debts

The people you owe will put your account number on any emails or letters they send to you. We recommend that you get these together before entering your details. It is important we have the right information about these accounts.

• If you cannot find some of your account numbers, call your creditors to ask for them
• If you provide a wrong account number, it could delay the start date of your DMP
• Make sure you double check all your account numbers

Some of the people you owe might sell your account to debt collection agencies (DCAs). They will usually let you know by letter or email if your debt has been sold.

When a DCA buys your debt, they might change your account number. You will usually get an email or letter from the DCA once they have your account. It should let you know:

• Your old account number with the original creditor
• Your new account number with the DCA

If you think your debt might have been sold to a DCA but you cannot find the letter from them, you can contact your original creditor to ask them who is managing the debt.

If they confirm your debt has been sold, they will be able to give you contact details for the DCA.

We are here to help

Once you have everything you need to set up your plan, log in to your online debt advice account. This is where you can submit all of the information we need.

While you wait for us to set things up for you, take a look what you can do to help your DMP run smoothly.

We know that budgets can often change, and that is no problem. We can look at it again with you to make sure your DMP is still comfortable to manage.

If you have any questions or need further advice, contact us. We are always happy to help.