Payplan help please

Louise82_2

Hi

Sorry to be on asking questions again but my first payment was received by payplan yesterday. I phoned my case officer yesterday to ask when everything would be paid and she said all the payments will go out straightaway. So i logged on to Justabank this morning and have saw that 8 creditors have been paid.

The total paid to them is £172.96.

I have 13 creditors in total and the debt is £28,0000. I pay £360 per month.

Only 8 out of the 13 have been paid and the £172.96 is covering the debts of £24,200 and the 5 that havnt been paid and which £188 seems to be left over for are debts only totally £3970.00.

Can anyone help me understand what is happening as im at a complete loss as to whats going on.

Sorry for asking loads of questions but really hope someone can help.

cardiffian83

Hi -

Hopefully I can put your mind to rest slightly.

I was on a DMP with Payplan and am currently still with them but now on an IVA.

What they have said is correct and as long as all of the debtor’s names etc have been passed to Payplan then the agreed payment will be distributed amongst the creditors. It’s a bit worrying at first but it will all sort itself out.

If any of the creditors call, you advise them of the DMP and that Payplan should, if they already haven't, be in touch.

Any probs give your case officer another ring as they are there to help and put your mind at ease and answer these types of questions.

Hope this helps a bit.

russt2000

yes to back up the other poster , ring your case officer , we are also with payplan , and it does take a little bit to settle in to a routine.
What we do is to email them ,so there is a paper trail of our actions ,just in case of future problems. smae with any creditor letters we get ,copy them and email to our case officer so that the creditor cannot deny we have kept them up to date {through payplan}, it takes a bit of time but eventually they stopped bothering us as we just ignored their phone calls and just passed thier useless letters to payplan to deal with.
So if they ever tried something ,we have a complete independant record of our good behaviour to show any court .

hope this helps
russ

Louise82_2

Thanks for your replies guys, but i dont understand why only £172 of the £360 i have paid has been paid out and only 8 of my 13 creditors have been paid. Also it doesnt make sense that there is still £188 left from my £360 payment and all the biggest creditors have been paid with the £172. Why would they not pay out all the £360 instead of just £172 of it. I cant understand. My debt free date is suposed to be 7 years or so i think but for example one of my debts is £8000 or more and they have allocated £50 a month to this which means in order to clear it it will take me 14 years. I dont see how this makes sense.

cardiffian83

Louise82 wrote: »

Thanks for your replies guys, but i dont understand why only £172 of the £360 i have paid has been paid out and only 8 of my 13 creditors have been paid. Also it doesnt make sense that there is still £188 left from my £360 payment and all the biggest creditors have been paid with the £172. Why would they not pay out all the £360 instead of just £172 of it. I cant understand. My debt free date is suposed to be 7 years or so i think but for example one of my debts is £8000 or more and they have allocated £50 a month to this which means in order to clear it it will take me 14 years. I dont see how this makes sense.

What tends to happen is that when the smaller debts are paid off, this money would then go to the bigger debts. Eventually once the 12 'smaller' creditors have been paid off; the £360 a month should solely be paid to the creditor which you owe £8,000 to. The highest debts tend to be the ones that finish last in my experience.

But it all depends on what they accept as a minimum payments and what Payplan have agreed to pay them.

Regarding the monies which have not been allocated, call your case officer as they are the only people who can explain. Hope that helps.

Louise82_2

Thanks all for replies i will give my case officer a call and hopefully she will shed some light on it. I will let you know how i get on

Daffykjs

Mine did this at first. and I think it was because a couple hadn't accepted straight away and pp were waiting for them. so their payment didn't show the same day as the others. But they all show eventually when they accept the money and it goes through.

hope they can put your mind at rest. i find pp very helpful.

moneymaker2

Hi,

We have spoken to HSBC this evening and they have sent us through to payplan to sort out reduced payments.
Is payplan a charity organisation like CCCS or will they charge me for their services.

Thank you in advance.
Laura

russt2000

Hi MM2 payplan is a totally free service ,been in a dmp for over two years with them, not a penny charged .

russ