Bad advice from Payplan - who can help?

abx1

Have had a DMP with Payplan since Feb 08. They have repeatedly failed to communicate within Payplan & with me. Had statutory demand a couple of months ago and decided to go for an IVA. At which point they should have lodged an interim order, but didn't and now have petition for BR. The creditor who has petitioned was not happy with the DMP payments but payplan didn't tell me the payments were being returned. By the time I found out it was too late and they refused to negotiate so progressed to stat demand then to BR. Had IVA creditors meeting today which was adjourned because the woman from RBS has gone on holiday!! At which point it transpired DMP people had not told IVA people about statutory demand, IVA people have no record of bankcruptcy petition (which I emailed and can prove they did). Just one error after another - Payplan have seriously let me down to the point where I stand to loose my home as a result and what have they offered as compensation? £25!!!

MIVAA

abx1 wrote: »

Have had a DMP with Payplan since Feb 08. They have repeatedly failed to communicate within Payplan & with me. Had statutory demand a couple of months ago and decided to go for an IVA. At which point they should have lodged an interim order, but didn't and now have petition for BR. The creditor who has petitioned was not happy with the DMP payments but payplan didn't tell me the payments were being returned. By the time I found out it was too late and they refused to negotiate so progressed to stat demand then to BR. Had IVA creditors meeting today which was adjourned because the woman from RBS has gone on holiday!! At which point it transpired DMP people had not told IVA people about statutory demand, IVA people have no record of bankcruptcy petition (which I emailed and can prove they did). Just one error after another - Payplan have seriously let me down to the point where I stand to loose my home as a result and what have they offered as compensation? £25!!!

Hi abx 1

I know it's easily said, but don't wouldn't worry too much because it is possible to propose a Fast Track IVA , which if accepted by your creditors will effectively annul the bankruptcy and replace it with an IVA, thus protecting your assets.

Wait and see the outcome to the Creditors Meeting, and go from there.

Good luck.

MIVAA

abx1

Thanks MIVAA. It's so easy to panic - especially when you feel you have no control! I just think I'm running out of options and only just discovered this site and the info about 1st credit. Not sure what happens at BR hearing - if it's cut and dry or if the judge is likely to listen to what you have to say. 1st credit won't negotiate AT ALL and are really rude. Will have to prep as much as I can in advance and pray the IVA is approved before hand. Only need to wait til next Thursday for adjourned meeting so not too long.

sparky25

Hi abx1,

Just to say hope it all goes OK, I have dealings with First Credit on a daily basis. Got to be the rudest people on god's earth. Found out today their collection agents are on a commission. The mouth piece I spoke to on Wednesday told me my token payment had been declined and could I borrow money from someone.

I've now decided to let them take me to court and obtain a CCJ. If I continue towards BR, they wont get a penny anyway. But hoping the judge will aware me £5 per month based on my circumstances. Then they can sweat it out for years.

Again, good luck at your meeting.

Sparkyx

abx1

I heard they were being investigated by the ombudsman - think a very helpful man at National Debtline mentioned it. So I think anyone who has cause to complain about 1st credit should do so. There more complaint they have, the more likely something can be done. I understand that I spent the money and I am quite prepared to pay back EVERY penny but I can't do it as fast as 1st credit want me to. They told me they were going for BR because it was quicker than the DMP. Not because they would get more, but because it was quicker. They have done no investigation in to what my property is worth and the o/s mortgage. They would actually get something in the region of 10p in the pound but they won't even consider a lump sum payment. They only equate to 10% of my creditors anyway so thankfully won't have the casting vote! They are the ones that have forced me in to a IVA. All my other credits, some of whom have 5 times the level of debt they have, are quite happy with the DMP.
There is some much bad press on this site about 1st credit. I hope you manage to sort something out. They don't seem to hang around so what ever hand they plan to play I would expect they will show it soon and hopefully it will work out for you. Good luck!