Debt management plan

bear01_2

Hi
Could someone please tell me if this is correct practice-

I decided after lots of nights reading this site to contact 'Payplan' to seek advice of either an IVA or a DMP, which would be best for me.
After my first contact with Payplan they took my details and got an advisor to get in touch, the advisor they got to contact me was from 'Debt advisory line'. Debt advisory line have advised me to go with a DMP.
Is it correct that I should be dealing with them and not payplan??

Thanks

boredofbeingathome

I would make sure this is a non fee paying one. There is a list of charities at the top of the board..so look around. CCCS have an online debt remedy..it may be worth filling that in yourself and seeing if they compare as well..all of it helps when paying off your debt.
Good luck.
BOB X

boredofbeingathome

Hi again bear01

if you scroll down on this link..the list of charities are all there
http://www.moneysavingexpert.com/loans/debt-help-plan

RAS

Have a look here

http://www.moneysupermarket.com/community/forums/t/cccs-vs-debt-advisory-line-17505.aspx

fermi

If you are not talking directly with a PayPlan advisor then I would drop this like a 'hot coal'.

Try CCCS. They won't try to palm you off to anyone else for a DMP.

mouncey

Hi Bear -they sound like the company I had a chat with during the week. They charge 16% a month for servicing your DMP and your first 2 months payments don't go to your creditors but to them for set up and admin charges. Take Fermi's advice and contact CCCS directly or use their online debt remedy.

Deep_In_Debt

I'm surprised at Payplan referring you to another company.

CCCS is the best way to go.

Good luck.

bear01_2

Thank you for all your advice everyone. Unfortunately I already paid them my first month due to being referred through 'Payplan' I guess I trusted them.
I looked on the CCCS website, it was really helpful but when I put a plan together they wanted me to pay over £1000 per month to a DMP, which was way too high!!!

DoWhatULove-LoveWhatUDo

I don't think the organization that we know as Payplan would do that but many other scumsucking companies masquerade as Payplan on the net if you don't surf carefully.

Was this the company you spoke to?

http://www.payplan.com/

If Payplan were referring people to a fee paying debt management company then I would find that rather worrying.

JES_F1

bear01 wrote: »

Thank you for all your advice everyone. Unfortunately I already paid them my first month due to being referred through 'Payplan' I guess I trusted them.
I looked on the CCCS website, it was really helpful but when I put a plan together they wanted me to pay over £1000 per month to a DMP, which was way too high!!!

Hi there!

I set my DMP with the CCCS using their online debt remedy. I know I did keep going back through it over and over again because I'd missed out the less obvious things so do have another try. For example, don't forget to include something for newspapers, lunch, dry cleaning, a small charity donation (useful for dress-down days at work!), and all those little things that are so easy to forget!

The referral from Payplan seems rather dodgy ...

Good luck!

imindebttoo

Hi there Everyone

This is my first post here, and as an employee of Payplan I'm equally disturbed by what's happened to Bear01 as described above.

I'd really like to reassure everyone on Money Saving Expert that Payplan categorically do not refer people who are seeking debt advice to fee-charging debt management companies - absolutely not! As you probably know already, Payplan is not a charity, but it is a FREE debt management plan provider. Payplan is also funded by the credit industry, in exactly the same way as the CCCS.

As DoWhatULove-LoveWhatUDo writes, there do appear to be instances where Payplan has or is being 'passed off' as other companies, and this unfortunately is a great shame - especially since everyone at Payplan works very hard to maintain an ethically strong and free debt management service for people with debt problems.

It is of course MUCH more worrying for those who fall foul of such companies - and I'd urge the original poster, Bear01, or anybody else who has experienced anything similar to contact Payplan directly on 0800 716239.

And just to show some solidarity here, by all means give the CCCS a call, or your local CAB, or the National Debt Line as well to make sure you get the best debt advice! Remember the golden rule - don't pay for a DMP!!!

IIDT:)

PS - And yes, I'm In Debt Too.