PayPlan Advice - I'm about to join

[Deleted User]

Hi All

I'm currently in the process of going through PayPlan to help with my debt. I have never missed a payment, nor have I been late but I'm struggling to manage each month with my current debt - do you think I should go for it? It's going to affect my credit rating and I'm not sure.

Also, what are the chances of your creditors freezing the interest? Does anyone have any advice on whether creditors will do it or not? I'm really worried as I'm relying on this!

I'd love to hear of people's experiences with PayPlan and how/if they helped.

If anyone has any advice/feedback on PayPlan, I'd really appreciate it.

Thank you
Hx

Daffykjs

Hi HylyJn

I'm on Payplan and I'm so pleased I've finally done it. We like you were struggling to cope (altho we had missed or under paid a few payments).

There is no guarantee of them freezing the interest and so far (I only started in Jan) not all of mine have.

BUT regardless of this it is all more copable with the lower payments and Payplan will try again to get them to stop. Apparently (I hope i'm not speaking out of turn here) but once it's up and running and they see you making the payments each month even if they haven't accepted right at the beginning they may do later on.

Come and have a look at the DMP Support thread (Why can't i post a link?) for more advice. There are a lot of us on DMP's. Some with Payplan, some with CCCS and some going it alone. But we're always there for support and to answer questions if we can.

Daffykjs

Trying again

http://forums.moneysavingexpert.com/showthread.html?t=1360759

Must have been me doing something wrong! Pah technology!!

DoWhatULove-LoveWhatUDo

The standard advice is to post an SOA for more details on your situation then people wil be able to give advice tailored to your particular circumstances.