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Who's lending

Hi all,feeling a bit confused :confused: just got a letter from Payplan this morning telling me about their associated company who's lending,I thought Payplan were against taking on more secured debt.
When we first contacted Payplan about our troubles,we told them about all debts and our mortgage,they knew we had a large amount of equity in our house and started talking about an IVA involving a remortgage to finance it,after all the questions about income/expenditure they decided that there was no way we could afford to borrow any more and that was it,the DMP started.Things have ticked along ok,although creditors are not freezing interest or charges.
So why now have Who's lending contacted us to talk about remortgaging? :confused:
Anyone had the same?
Debt at highest £102k :eek:
Lightbulb moment march 2006
Debt free october2017 :j
Finally sleeping easy in my bed :A

Comments

  • alecpr
    alecpr Posts: 109 Forumite
    Who's Lending, according to their homepage:

    "Who’s Lending are mortgage brokers specialising in adverse credit mortgages. We are here to help clients who have problems with credit"

    Their based at Who's Lending? Ltd Kempton House, Dysart Road, Grantham NG31 7LE

    Apparently Payplan are their sister company according to their website, I'd like to see if anyone can confirm this?

    I would say it is a sales pitch, but if they are using the Payplan name and do not have their permission they are regulated by the FSA and certainly need reporting to them and to Payplan.

    Call Payplan and advise them of the situation, ask them directly if they are related to this company and if so why this company are harrasing you.

    I'd be very intrested to hear the answer.
  • alecpr
    alecpr Posts: 109 Forumite
    Hmmm.. the payplan they are related too appears to be this one:

    Ms S Tibbott,
    Payplan Financial Services Ltd,
    Kempton House,
    Kempton Way,
    Dysart Road,
    Grantham,
    Lincolnshire,
    NG31 7LE

    Strangely based in the same office!
  • Broken_hearted
    Broken_hearted Posts: 9,553 Forumite
    I don't know anything about payplan, but are you saying there are two.
    Barclaycard 3800

    Nothing to do but hibernate till spring






  • alecpr
    alecpr Posts: 109 Forumite
    I was, but it appears not, I'm as confused as the poster, surely there is a conflict of intrests here?
  • QueenB.
    QueenB. Posts: 1,083 Forumite
    1,000 Posts Combo Breaker
    I second alecpr. I would ring up payplan and ask them direct about who's lending. It seems to me it may be a case of a bad company using a good name to confuse people in complex and vunerable positions.

    Keep us informed about what you find out because it will be interesting to know if that is the case or if they really are attached to payplan.
    Success means having to worry about every thing in the world......EXCEPT MONEY. Johnny Cash

    Cross stitch Cafe member 81.
  • alecpr
    alecpr Posts: 109 Forumite
    Really looks like they are genuine, they are both companies owned by Totemic ltd according to http://wwwatt.co.uk/ which is their homepage.
  • livinginhope
    livinginhope Posts: 1,897 Forumite
    Debt-free and Proud!
    Thanks for the replies,where's the thanks button gone?
    Looked at the letter again and it is on Payplan headed paper so it is part of the same company,just can't understand why they want us to contact them,our mortgage is fine and it's clear we can't borrow any more.I seem to remember before we started the DMP that Payplan said one of their mortgage people would call,and they did,but said that they could not help us with anything.
    Debt at highest £102k :eek:
    Lightbulb moment march 2006
    Debt free october2017 :j
    Finally sleeping easy in my bed :A
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