Payplan Misery

mcajshaw

Been with Payplan three months now and have seen that Lloyds have clobbered me with £165 worth of charges this month and £40 of interest. I pay Payplan £228 a month to cover all of my creditors and Lloyds have added another £205 on to the debt :-(

My agreed overdraft is £2,500 and my baance now stands at -£2811.00. Another problem is that just yesterday one of my payday loan creditors managed to get money from this account which suggests Llloyds are allowing an unplanned overdraft. I just do not know what to do or where to turn. Payday Express take payments by card and then been able to get £70. If I report my card lost and stolen would this work?

This Payplan thing sounded a good idea but only one of my 6 creditors has agreed so far and it is turning into a bit of a nightmare. Please help if you can advise me.

inamess200

Is this overdraft part of your payplan agreement? If so let the creditors do what they want - they can't have what you don't have. Is your money safe in another bank account. When I set up my Payplan DMP i had the same problem - nationwide let 4 months worth of loan payments go through even though I had canceled the SO at the end of the day they can add charges etc but if you haven't got the money they can't have it!! I would tell payplan what is hapening and see what they say.

YOu can see from my signature I had alot of debt!!! - eventually creditors agree and all but one have stopped interest and charges - one loan has added about £600 incharges since the agreement but i still pay the same and have held firm and now I don;t hear from any of them - it does take time for things to settle down but they do,

mcajshaw

Thanks for the post. Thing is if they lump loads of charges on then surely in the end I have to pay that off too? I also find it very alarming that even though I am well beyond my overdraft limit, a payday loan company has been able to obtain money from my account. Lloyds have not been back in contact with Payplan weither which is a worry too.

inamess200

I am working on the thoery its taking soo long to pay off the original amount that by that time i get to the additional charges element they may want to write some off. I have been getting some f&F settlement offers but cannot afford to pay those at the moment.

I would get my card cancelled for the lloyds account therefore stopping anyone else taking money - i am suprised LLoyds haven't frozen the card already unless the correct department have not recieved the letter. Get in contact with payplan and see what they advise - they are afterall there to help you!!

AMBERSHADOW

Go claim your charges back there is a thread somewhere on here regarding claiming charges from banks

I have just started mine I wont be in debt because of their charges