debt

HILLY_3

I WAS ON YESTERDAY ABOUT MY DEBT,BEEN INTOUCH WITH LOAN COMPANY THEY DONT WANT TO KNOW,SO I WAS WONDERING CAN ANYBODY TELL ME WHAT A PAY PLAN IS AND WHAT HAPPENS WITH ONE AND HOW MUCH DOES IT COST,THANKS

Thefunkygibbons

I assume you mean payplan who are a charity similar to CCCS who help negotiate with creditors to manage payments down to a level you can afford

Can you link to previous message?

Xbigman

Is it just one loan company you owe money too? If it is then do a statement of income and outgoings and work out how much you can afford to pay. Then offer them this amount in writing, sending your income/expenditure details to them. Just start making payments of that amount. They might get upset, threaten you and harass you left right and centre, but stick to your guns. Post updates on here for more advice.

If you don't feel up to this, or if the debt problem is bigger, then contact one of the debt charities.
Regards



X

southernscouser

HILLY wrote:

I WAS ON YESTERDAY ABOUT MY DEBT,BEEN INTOUCH WITH LOAN COMPANY THEY DONT WANT TO KNOW,SO I WAS WONDERING CAN ANYBODY TELL ME WHAT A PAY PLAN IS AND WHAT HAPPENS WITH ONE AND HOW MUCH DOES IT COST,THANKS

I think you mean a debt management plan (DMP) with Payplan who are a charity that will how you sort your finances. Payplan and the CCCS don't charge you for their services where as other DMP companies will!

The way it works is you phone them, have an interview (all informal apparently, your not on trial or being judged) and they work out with you how much you can afford to pay to your debts. They then do all the contacting work on your behalf so you don't have the stress of dealing with the lendor's!

You simply pay Payplan £X amount each month (the amount you agreed) and they sort it between who you owe. This is the point where other companies take a % from you but they won't! The good thing about them aswell is that the major lenders have respect for them and will work with them.

fuzzgun19

southernscouser wrote:

I think you mean a debt management plan (DMP) with Paypal who are a charity that will how you sort your finances. Paypal and the CCCS don't charge you for their services where as other DMP companies will!

Southernscouser, I wish Paypal WERE free! I think you've had a misspelling moment. Hee Hee :rotfl:

southernscouser

fuzzgun19 wrote:

Southernscouser, I wish Paypal WERE free! I think you've had a misspelling moment. Hee Hee :rotfl:

:wall: :wall: :wall:

:rotfl: :rotfl: :rotfl:

severussnape

we phoned payplan last week and spoke to an advisor on saturday morning it took about an hour to get all our details. then she phoned us back as she had to check something with someone else, they are advising us to do a DMP which is the route we wanted to go down. if you are worried go onto the website and phone thats the hardest bit but they don't make you feel bad and even have a bit of a laugh.

HILLY_3

Thanks To Everybody For Your Advice ,my Parents Have Sorted My Credit Card Debt Out By Loaning Me £3,500, So I Just Have My Loan Left Which Is £16,000 At £385 A Month This Might Not Seem Alot To Some People But When You Haven't Been In Debt Before Its Scary But Im Just Going To Have To Tighten My Belt And Get On With It And Try And Get Back What My Ex Girlfriend Owes Me .thanks Again For Your Help And I'll Keep You Posted,its Good To Have Some People Out There Who Care

skintchick

Hilly, we have all been there to some extent, and we want to help.

If you post your incopmings and outgoings we might be able to help you find some extra money to get rid of your debt faster.

What's the APR on your loan? Who is it with?

HILLY_3

Loan Is With Direct Line Apr Is 6.6 %

skintchick

OK - well, it's a reasonable rate and not a scary one!

Can you spare more than you are currently paying, to get rid of it sooner?

If you post your incomings and outgoings we can try and find you extra money if you want to do that, or even if you just want some more disposable for yourself!