We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Why aren't Payplan recommended by MSE anymore?

immoral_angeluk
immoral_angeluk Posts: 24,506 Forumite
10,000 Posts Combo Breaker
in Debt-free wannabe
Just saw on another thread that MSE has stopped recommending Payplan. I checked and it was right, have I missed something? Why are they no longer recommended?
Total 'Failed Business' Debt £29,043
Que sera, sera. <3
«13

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    I think because they area commercial company not a not-for-profit organisation.
    Also I think about the time they stopped being recommend (which was a bit ago now) there were a few quite a few people not very happy with the service/advice - which I guess could also have been taken into account.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
    10,000 Posts Combo Breaker
    Ah that probably happened during my time away then... was surprised when I just heard, I always thought they were not for profit! Goes to show appearances can be deceiving..
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Were they ever on the Non-profit Debt Counsellors' List?

    I'm not sure they ever actually were? Could be wrong......
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
    10,000 Posts Combo Breaker
    fermi wrote: »
    Were they ever on the Non-profit Debt Counsellors' List?

    I'm not sure they ever actually were? Could be wrong......
    Not sure but I remember them being recommended by the site somewhere or other... Maybe it's just me going crazy.. :rotfl::rotfl::rotfl:
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • Loopy_Girl
    Loopy_Girl Posts: 4,444 Forumite
    So do they charge for their services?
  • Tixy
    Tixy Posts: 31,455 Forumite
    Loopy_Girl wrote: »
    So do they charge for their services?

    They do 'free' debt management plans. But they make a profit from other services they also offer.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Tixy wrote: »
    But they make a profit from other services they also offer.

    Which seem to be advised more than they really should be by them at the moment.rolleyes.gif
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • mozzyc
    mozzyc Posts: 2,765 Forumite
    True! We've been having phonecalls for home insurance!!
    DFD February 2012 :D
    Baby Boy Born February 2012 :smileyhea
    Newborn Thread Member :heart:
  • immoral_angeluk
    immoral_angeluk Posts: 24,506 Forumite
    10,000 Posts Combo Breaker
    I thought they were funded by the financial industry? Don't tell me they've started becoming biased towards products and things they are involved with?
    Total 'Failed Business' Debt £29,043
    Que sera, sera. <3
  • Tixy
    Tixy Posts: 31,455 Forumite
    immoral_angeluk wrote: »
    I thought they were funded by the financial industry? Don't tell me they've started becoming biased towards products and things they are involved with?

    I think that might be CCCS you are thinking about (which are partially funded by 'the credit industry')

    Payplan make money from selling insurance, IVAs and other financial products.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.8K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.4K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 260.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture