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Has anyone changed their DMP payments

1 reply

orangesandlemonssaythebells · 06/05/2018 19:22

I'm 6months into a 36month DMP with Stepchange. All good, affordable and I'm so relieved to be addressing an issue I've hidden from for so long.
But - I've just been offered a new job. This should be a good thing as it virtually doubles my salary but my travelling expenses are going to be horrendous and I've no idea how much my revised tax credits will be or whether I'll still get housing benefit etc.

I know that Stepchange allow account reviews whereby the payment can be reviewed but I suppose I'm uncomfortable with the thought that my payments may have to reduce significantly.

Should I even be accepting the new job?

OP posts:
Isleepinahedgefund · 08/05/2018 08:16

Don’t let a DMP etc put you off accepting the job. If your salary is doubling, I’d imagine your HB/ tax credits will stop, unless your current wage is really small. I was on HB/TC earning £16k and my salary doubled last year, I don’t qualify for anything now. Live in a really high rent area. Again if you have high CC costs that might make a difference, I don’t really have any. I am still much, much better off financially despite having silly high travel costs, and I was able to double the payments into my DMP.

You know the salary, you know how much your travel will be, you can work out what you’ll be left with. From there you can use an online calculator to work out your tax credits etc. StepChange will help you redo your DMP payments.

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