Payplan seems OK so far ......

CheerioCreditCards

Good morning! I have never posted on a forum before. Bear with me ...... . I thought I'd share my experience so far with Payplan. My partner and I decided to bite the bullet a couple of months ago and do something about our dire situation. Kids, house, cars, easy (ha ha that's a joke now!) credit. Then the bank decided to reduce our o/d facility and asked us to pay back £6,000 (cheers), the c/card companies jacked up the interest rates and it all came tumbling down as we couldn't even afford the minimum payments. Panic set in, until I contacted Payplan. We have loads of debt with loads of companies, and only a tiny surplus available each month compared to what they were all demanding. But after speaking to a friendly lady at PP she recommended a DMP for us and sent us all the paperwork. All free of charge too - yes really. Now it's all set up and happily the majority of our creditors have accepted our miserly offers to date. Just waiting on a couple and I can tell you that once they've accepted it'll be a happy day! We did have to change our bank a/c, which I found remarkably easy. I am now a savvy shopper (never used to even check prices before), and it feels great! I will never ever use a credit card again, even when (not if!) we're debt free in several years time. Would love to hear anyone else's experiences, and I hope this will help anyone on the fence about starting a DMP. We're not out of the woods yet, but pretty close and it feels great to be proactive! :rotfl: Thanks for listening!

gonzo127

just wanted to say a big well done,

i dont know if you have posted your SOA up on these boards however if you have not and you want to you can always post it up for people on here to check through and maybe spot other possible savings you might not have thought about

as they say 2 heads are better than one, and on that theory having loads of heads might be better than two

CheerioCreditCards

Thanks! No I haven't posted my SOA anywhere. Here's an embarrassing admission - I don't know what it stands for!! I am most definitely a newbie in this situation and would be willing to take any advice possible. I have just realised that there are many other people out there just like my partner and myself and reading these forums has shown that everyone seems to support each other. It's very refreshing and makes a change from threatening phone calls/letters etc. No-one we know is in a situation like this, although who knows - they could be on this forum right now!

gonzo127

the SOA stands for statement of affairs

the basic one we like to use on this forum is found here http://www.makesenseofcards.com/soacalc.html

yes for some reason debt is still very much a taboo subject in most circles which seems crazy as so many people are affected by it but pretty much everyone on here is very nice and supportive

CheerioCreditCards

Of course! Yes I'll have a go at that a bit later. Thanks very much!

Does anyone know what would happen if our remaining couple of creditors didn't accept Payplan's offers? Wouldn't that throw a massive spanner in the works?