ditch Payplan or not? help please!

Iriahm

Hi, last July i started paying Payplan £157 a month in an informal arrangement, to pay off £14k debts, to 6 creditors. I was making minimum payments but was glad of their help. Since then my payments have been like clockwork and never missed, but Payplan's payments to my creditors have been erratic.

Consequently I now have 4 defaults on my credit record which I wouldn't have had I continued to manage the accounts myself and I now have threats of CCJ's/Bailiffs etc as they haven't paid my money as agreed.

I telephoned Payplan today to find out where the rest of my monthly money has been going and they hadn't realised(!) and are investigating. The money that they have been holding could pay off several of my smaller creditors.

Should I terminate my agreement with Payplan and negotiate with my creditors myself? am I in any position to get the default notices removed on the grounds that Payplan mismanaged my account?

I phoned one of my harshest creditors tonight and they said that they would "welcome me managing the account and would accept the agreed payment that was agreed by Payplan in July"

Payplan also say that I cannot pay off individual creditors and must treat all the same, I'd really like to be able to pay off the smaller ones quickly and then tackle the bigger ones.

grateful for any advice or if anyone has any experience of this. thanks!

lynzpower

well one thing I would say is of course they welcome you managing your own affiairs as they can dish out a bit more pressure without payplans "defence"

im sorry to hear whats happened to you though.

I personally would be tempted to go it alone, but I dont really know your circs that well, so I guess only you would be able to decide whats best

Mike_St_Helens

WOW, Payplan are normally very well regarded here. Ive sang their praises many time.

james32_uk

Wouldnt you have got defaults anyway? I thought you got defaults as soon as you reneged on your contract for several months on the trot.

Mike_St_Helens

As I stated, he never missed payments before the DMP. Therefore he wouldnt have defaulted.

Iriahm

Thanks for your quick responses. I am a bit confused but feel like i'm not in control so will probably write to payplan then my creditors...I'll sleep on it.

ps....i'm a she! lol!! 50/50 chance!

Mike_St_Helens

OOps... sorry !
payplan usually ar SH** hot so I take what they say,, and National Debtline are dead good too..

Sorry again... I have to look sometimes to see which gender I am... no... sorry, too much info !! he he...

james32_uk

Mike_St_Helens wrote:

As I stated, he never missed payments before the DMP. Therefore he wouldnt have defaulted.

I'm not so sure about this. Why would anyone pay back minimum payments if you could just go on a dmp without defaulting?

Iriahm

cheers, Mike. You probably wouldn't have gotton my gender from my real name either as my parents thought it would be nice to have a gaelic name....if i have kids its jane and john all the way!! LOL!!

To be honest i'm not surprised that this has happened with payplan as my life goes from disaster to disaster so why should this be any different?! lol! at least i can smile about it. I think i'd prefer to feel in control and not rely on a 3rd party, BUT use national debtline/citizens advice if creditors start getting heavy with me.

cheers again.

Iriahm

James, thanks for your input. i'm not sure about whether or not I would have defaulted by not going to payplan. what i'm more bothered about is that they had my trust and my money!

Mike_St_Helens

Thats very true, I learned... I wont go into detail, but got very very heavy in debt, bad business deal etc etc.. then no job, then fell behind with taxes !! phewwww... and more depressed and down than anyone can understand...

The best thing you can do is prioritise I reakon, You, Family, happiness, Home... Good food and diet, then worry about them good old debts ! (oh, id put taxes up there at the top !)

And... about the default thingy, I must have said what I wanted wrong, I meant, before the dmp they paid up ok so there were no defaults, after the dmp then its inevitable that youll get them... they can do it after 1 month as you have broke the T&&C's

Ta !

Mike