Just some advice please

redrose76_2

Hi I have been here before and finally taking the plunge to sort my debts out once and for all!

I am having my 2nd call from payplan tonight and would like some advice on the information they will be asking for.

I have got together all my bank account numbers, balances. My creditors accounts, balance, and amounts due and when.
Also all my insurance details and how much I pay and policy numbers etc

Could anyone tell me what I&E they include, I filled out a debt remedy out on cccs and wanted to know whether payplan will include the same outgoings??

Also will they want proof of all the amounts I pay out, and what other proof might they ask for.

Sorry for the long questions but just a bit anxious and scared I suppose.

I am dashing off to work now but will check back in later. In advance.

Thanks

happy_peach

I recently set up with Payplan (1st payment left today), and the I&E was fairly straightforward.

In my experience, you need to tell them everything you pay out / save for (I save a little with girls in my work for Summer and Christmas) and they will include it somewhere. They want to make sure that the plan is realistic.

They were really good with me, and set my mind at ease.

They haven't asked for proof of my outgoings, and I they haven't asked for a payslip. They did, however ask for exact balances, not rounded up to the pound like I had.

Good luck! And let us know how you get on.

Peach x

redrose76_2

Thanks for your reply Peach, its good to know someone is going through what you are too!

So did your set up go smoothly?? Do they question what you put down on I&E?? I am just worried they might not include something which I think is important but they think otherwise.
Also you say exact balances is that exact on loan amounts, as I am not sure how much is left to pay on them just how much I took them out at and how much I have paid??

I am grateful for your reply and hope you dont think I am being nosey. Just trying to get a bit of a heads up as to what to say tonight.
I really hope your DMP goes well with payplan.

Redrose

Nargleblast

Well done Redrose for taking that first step. You will still get the occasional grief from creditors wanting extra over and above your debt management plan payments, but you get used to repeating the same mantra over and over again i.e. on DMP, regular payments, can't afford more, will review it as situation improves etc etc.Payplan should also be happy to give you tips on dealing with creditors. You will feel as though a weight has lifted once the plan is under way. Just make sure the budget you agree with Payplan is realistic enough for you to survive.

redrose76_2

Thanks for your reply nargeblast, I am just sitting around now until the call tonight. I do feel slightly better knowing I am finally doing something about my debt instead of adding to it!
After my initial call from payplan and them telling me to move away from my banks as I owe them the money. I have sorted the wages for next month, cancelled d/debits and re-done them for new bank. Just hope I get some more advice as to whether to pay the loans and c/cards this month (even though I cant afford too!) or whether to send token payments. My wages will go in the banks once more so if I dont pay loans surely they will take all of the money anyway - offset?
Maybe I will have to pay the loans and reduce the payments to c/cards to cope for this month until DMP is properly set up!

happy_peach

Hi Redrose

My set up was very smooth, I think I had 3 phonecalls all in between me and Payplan.

The guy I spoke to included everything I spent. I told him what I spent and he allocated it under a category. Haircuts, pet food, pet insurance etc etc.

Tell them when you speak to them that you are unsure of the exact amounts outstanding, they will let you know what to do.

My feeling was that Payplan are there to help you, and a realistic I&E will help you stick to the plan.

Feel free to PM me if you want to discuss things in depth.

Good luck with tonight! Keep me posted!

Peach x

redrose76_2

Aww, thanks again Peach! It feels so great to know someone can help you out with the questions. Will let you know how I get on after the call.
Redrose xx

poorandindenial

Hi redrose

If you are feeling strong then as you are at a loose end you could call your creditors and ask them for a current balance for each of your loans, you just need to not get drawn into any conversations about repayments (if you haven't yet missed any then this will be fairly easy, if you have missed some it could be quite painful)

Good luck for your call

elsie52

Hi redrose, :j

Payplan are very good and also very realistic about your allowances for food etc, they even allow me £25 per month for a pet, and I've only got a budgie. !! :rotfl: I am sure that they realise that its easier to stick to a plan if its realistically set. We still pay more than half our salaries to our DMP but we can also save a little by being very careful. You will get used to it and its the best thing we did over a year ago.

redrose76_2

Poorandindenial thanks I am feeling ok about ringing but wasnt sure whether payplan would want the exact figure outstanding on loans or just what I borrowed, how much I repay and when (also account numbers). I havent defaulted or missed payments on any of my creditors - yet! But I did cancel my c/card payments as not sure what I am doing so I could be defaulting or the first time ever....so scared of this!

Elsie thanks for you help, I do hope they understand how much I need and how much I will have left to put towards the DMP. It wont be nearly as much as half our income though more like 25% of what we earn, thats sounds bad seem as though the normal repayments are around 50%!

Right off to get settled, waiting for that call!

Will post again soon. Redrose xx

redrose76_2

Its me again, thanks again everyone for their responses, I told the lady who I spoke to at payplan about how I have had support from the people here and she was pleased to hear that!

Right well call went as well as can be, I thought I would have some more resolution as what to do, but will have to wait for next call from financial advisor. I know these things dont happen overnight but it is nerve racking waiting. I have been advised now to remove all wages from current accounts as soon as paid into, then send token payments to all creditors and let them know i am going with payplan and give ref number. Now this sounds scary!
Not sure how much to offer, shall I work out how much I estimate that I need and then give what I have left pro rota to everyone. Starting to really worry now and slightly panick, I know I am doing the right thing but it feels like I am doing something wrong. I just cant keep living on credit!!!
Sorry to babble on....Redrose