Payplan or CCCS Advice Please

kellyandmatt

Hi all

Having spent hours reading the forums here and knowing that we are not alone we have decided to jump on in, that is in to the forum, we had already decided to do something about our debts just not sure what.

So a little background:

In August we decided to set up in business and purchased a website design and internet marketing franchise. To do this we took out a business loan and set up as a partnership company, Note NOT A LIMITED COMPANY. We already had an Abbey loan and some other small credit card, catalogue debts as well as a 3K overdraft also with Abbey. After much strain on heatlh, marriage, and family we have been unable to get the business off the ground and decided to walk away. We have no ongoing monthly fees to worry about but still "own" the franchise which was originally worth circa £10K. We are now faced with not being able to fulfil all our financial committments. We are both still in our full time employment and can bascially afford to pay everything apart from the new business loan which is in both our names (as is almost everything else). I am sure this would be viewed as preferrential treatment and probably not the right route to go down so we have approached both Payplan via telephone and completed some details on the CCCS website. After an initial call with payplan which involved them telling me our best option was Bankruptcy until we discovered they heard one of my figures wrong I have booked a telephone discussion for next week when they will go into further detail. With regard to CCCS I have filled in confidential budget propositions and they tell me we have around £650 spare income a month (which we probably agree with) and around £28K worth of debt.

Anyway I am really sorry I have gone round in circles above could anyone give us some advice towards which way to turn.

Any help much appreciated

debrag

I say Payplan

worried_jim

HI Kelly and Matt- I went with pp in November with a similar amount to you. What can I say except it has turned my life around and is probably the best decision I took in 2008. I am sure that the cccs are just as good- you have made the right first step. Sorry to hear about your business, but things will now get better. all the best to you both. Jim.

jonathon

im with pp who i find good but thay can be a little slow returning calls but i think thay are very busy at the moment

WorriedMart

To be honest, go with which name you prefer. They are both as good as each other (and thats great!!). Im with CCCS and cannot fault them.

As above, they are both very very very busy.

Daffykjs

I'm with Payplan too and so far they seem great, highly recommended!

However I never looked into CCCS so don't know the differences or how they compare. From what i've heard they both seem as good!

ald65

both companies in general get a good write up on this forum. we are with payplan and they have been great.
they have slightly different ways of calculating monthly payments to creditors.,so worth checking out their websites

Deep_In_Debt

It's always best to get a second opinion.

I'm with CCCS only because for months Payplan tried to "sell" me an IVA when it clearly wasn't suitable for me.

Just my opinion of course...

kellyandmatt

Daffykjs wrote: »

I'm with Payplan too and so far they seem great, highly recommended!

However I never looked into CCCS so don't know the differences or how they compare. From what i've heard they both seem as good!

Hi All and thanks for the advice so far, Daffy could you point me towards the DMP Mutual support thread pls.

10past6

kellyandmatt wrote: »

Daffy could you point me towards the DMP Mutual support thread pls.

Click here Kelly

System

Hi Kelly, I think there is little difference, both are non-fee charging with similar good reputations with creditors. MSE seem to not promote Payplan for some reason, a point I have raised with MSE previously. I think upon reflection, CCCS may be a little bit stricter. Good luck whomever you go with. Len