Payplan - 5 out of 6 offers rejected

mcajshaw

Hi everyone,

Started with Payplan recently. Have 12k of debt with Halifax (loan) Natwest (2 current account overdrafts) Lloyds (overdraft) and 2 payday loans. Payplan produced my offers and I was paying £228 in total a month. I spoek to my case officer yesterday and he told me that only Halifax had accepted the offer and the others had not. He said not to be concerned and that they would probably pass my debt to debt collection agencies or even solicitors (which scared me a bit). Is it common for the first offers to be rejected and if so what tends to happen next? I am a bit worried as the charges and interest and still going out each month and therfore increasing the debts.

mcajshaw

I had thought of paying money into the current accounts last month to bring them within limits (to stop charges) but Payplan advised me not too as if I did the banks would use it as a reason to demand more. They are now too far overdrawn of their overdraft limit for me to do this now even if I chose too. :-( Bit worried. All seemed to be going so smoothly but not so sure now.

themagics

mcajshaw wrote: »

Hi everyone,

Started with Payplan recently. Have 12k of debt with Halifax (loan) Natwest (2 current account overdrafts) Lloyds (overdraft) and 2 payday loans. Payplan produced my offers and I was paying £228 in total a month. I spoek to my case officer yesterday and he told me that only Halifax had accepted the offer and the others had not. He said not to be concerned and that they would probably pass my debt to debt collection agencies or even solicitors (which scared me a bit). Is it common for the first offers to be rejected and if so what tends to happen next? I am a bit worried as the charges and interest and still going out each month and therfore increasing the debts.

Oh yes it is hun they will keep on refusing until they realise that you are not gonna budge stick with payplan who will advise you all the way ensure you never miss a payment to payplan and up your payments when ever you can. we are with payplan have been for two years now when we started our offers were rejected but we stuck with it eventually they were accepted but then they will still selll the debts on so when this happens send copies of any letters you recive to payplan if any creditors phone tell them payplan are dealing with and to address everything in writing. when we started we had 50K which was gonna take 17 years to clear but sticking with our budget and upping our payments we have brought it down to clear within 5 years.