CCCS or Payplan which is better and why?

yellowmonkey

Payplan are great. Like CCCS they are backed by the financial and credit industry. They are good at what they do and if it works for you, whoever you go with, then that is the best for you.

If it gives you peace of mind and a solution then it is not about point scoring it is about you.

Tried doing it myself and did not work so I will agree to disagree with Broken hearted

ym

fatbelly

I like the idea of a third party setting up the dmp because it changes the debtor-creditor dynamics. But i understand that both organisations are overloaded and can be difficult at times to communicate with. So a self-administered dmp is the best for some people.

The CAB tend to set up the dmp as a third party then hand it all over to the client to make the payments, so that's another option. And they also can advise on housing, employment, benefits etc...

The main difference between CCCS and payplan is the minimum payment required. CCCS need £5 per creditor per month, Payplan need £100 across all your creditors. The CAB have no minimum.

Deep_In_Debt

I also found that CCCS were more generous with the budget.

I tried to go it alone but found it too difficult. Also found the creditors froze interest a lot more quickly when I went through CCCS than when I tried it alone. I guess I found it easier for a third party to negotiate on my behalf. Let them do the leg work!

GhostHunter_3

Reading all the replies so far I am now thinking maybe its better for me to go through either CCCS or CAB.

I will still go through with speaking to Payplan tomorrow (probably too late now to cancel anyway) and see what advice they have and just make certain I do not commit myself to make a decision tomorrow. I will then speak to CCCS and CAB over next week and see what I feel comfortable with. I have another 10 days respite for most calls so am not going to be pushed into making a decision which I may regrett. Saying that I also aware that the sooner I get started on any DMP the better.

Thanks for all replies so far.

skylight

I think everyone here would suggest that you call as many as you can. You will speak to a person and each individual is slightly different, giving you additional information or a different view point. Go with whoever you are comfortable with.

kpwll

I have just started with Payplan and I have found them to be very helpful, they explained the ins and outs of everything and I received my papers very quickly. I was asked if I wanted insurance from them (to protect payments) but once I told them no, that was it, no hard sell. If you look at their website it tells you on there who they have the backing from.

inamess200

Hi

I went to payplan 3 years ago they were great I had £53000 and could only afford £160 a month!! They got this accepted by all my creditors ( 10 in total made up of credit cards and loans) I have since increased my payments to £312 a month so can now repay everything in 13 years - i did not find them pushing anything else and have had no problems contacting them at all.

Good Luck

yellowmonkey

GhostHunter wrote: »

Reading all the replies so far I am now thinking maybe its better for me to go through either CCCS or CAB.

I will still go through with speaking to Payplan tomorrow (probably too late now to cancel anyway) and see what advice they have and just make certain I do not commit myself to make a decision tomorrow. I will then speak to CCCS and CAB over next week and see what I feel comfortable with. I have another 10 days respite for most calls so am not going to be pushed into making a decision which I may regrett. Saying that I also aware that the sooner I get started on any DMP the better.

Thanks for all replies so far.

Good luck and all the best

ym

GhostHunter_3

yellowmonkey wrote: »

Good luck and all the best

ym

Thanks YM getting a little nervouse now and watching the clock. Have got all the paperwork together they requested and am now trying to stay calm and focussed! Try and let you know what happend if I am still in 1 piece lol

Thanks everybody for your help and support.

kpwll

Good luck and don't worry they are very easy and non-judgemental to talk to.