Would really value some opinions and/or advice

Helen42

We are in a DMP we have today received a default notice saying that the monthly installment for June has not been paid by out DMP company.

I phoned the creditor who informed me the payment is turning up 8 days late every month, I have now looked deeper and am desperate to work out why the DMP is paying late (cant get a sensible answer from them just get fobbed off) and also why when our money to the DMP company is leaving our bank on the 1st of the month are the DMP saying they are not getting it until the 11th of the month and that is why payments are late. I have never known a standing order take 11 days to get to its destination especially an established one.

So... I phoned the bank who assure me and are sending details that other than weekends and bankholidays the standing order should be with the DMP on the same day it leaves my husbands bank, SO where is the money hiding for up to and sometimes over a week.

Is anyone else having this problem Have you checked????:j

Tixy

Hi

Who is your DMP company?

Helen42

HI its Payplan

Helen42

Just phoned Payplan again to take up this issue they now tell me that its because they only have a basic bank account that doenst get interest that it takes this long and they dont know where the money goes for all that time so every month £500 disappears for a week or more and miraculously reappears,....

Tixy

Thats crazy no way should a SO take that long, I can see it might take them a couple of days to allocate the payment to your account with Payplan, but no excuse for it taking longer than say 5days max from your bank to your account at Payplan.

Have you just phoned them so far? It might be worth writing to them (or emailing) and asking specifically what date your last payment of X reached their bank account, maybe in writing they'll give you a proper response.

I know about 12months ago or so there were people finding payplan was paying their creditors late but I haven't seen any posts like yours for a good while now.

Helen42

Thank you Tixy I have emailed them as well as phoning them I am now awaiting to hear from their accountants as to this is happening. But is seems no one knows at present. I wondered if anyone else was getting this same problem. And what else i could do.

funkyfish586

i am having exactly the same problem!! We are now 7 days over when i sent the payment over & it still hasnt been sent. Please see my thread from yest

https://forums.moneysavingexpert.com/discussion/2582965

I will be phoning them at 9 & giving them a piece of my mind x

Helen42

If you can get through!

lindann_2

we been with payplan, we use justabank, through the email system when we want to call them, due to mix up at the banking side, when we had paid money in and it was not credited to the count, When we ask them, they found the fault, of course it made things late, so changed the date when month goes in, its takes 3-5 days to pay out. We owe them a small amount below £400. They have been good really, it does take the strain, off things. If creditors complaining, let Payplan sort them out. Some creditors try it on, if they accpt payplan, then they will have to be patient. One thing we do not like, we used to pay the money in with Paypoint now its JB card which we have to pay in cash at the Postoffice. Of course we have to pay extra for that usage, we could use hubby basic mastro cash card. We very wary of using it over the phone and web. We are near the end, some creditors have put interest and charges on the account, we ask that when we pay the final sum, which we have entered at the begining, there will be surplus still out standing. So its wait and see sort of things, at least the end is in sight, we will so much better off. Thats if payplan will ask the creditors will they drop all extra charges, interest etc.. good luck friends xx

Helen42

We pay payplan by standing order one the same date every month this has not changed in 2.5 years.

Creditors are not complaining I AM when i get notices of default when there should be none and its cause payplan are not doing their job.

HOwever if playplan sort your creditors out with regards to interest and charges please let me know as they have told us they dont do that the only contact they have with creditors is to send them financial statments and request interest is stopped if the companies say no then payplan do not "sort them out"

I was the one who negotiated with our companies to get the interest stopped after payplan took on our case the only thing payplan gave us is their name which i think may have helped in a DMP we still get lots of calls and letters we send them to payplan and payplan email us and tell us they dont guarantee to get creditors to stop hassling us.

Oh and the only other thing we get from them is let us insure your car let us insure your house etc etc

Deep_In_Debt

Their selling tactics was one reason why I did't go with Payplan.

Creditors are not obliged to freeze interest as a dmp is not legally binding. That said, most creditors do, some for a short time review it and others will freeze for longer. My largest creditor has frozen interest and charges for the duration of my dmp provided I don't miss a payment and that they are receiving more than 10% of the outstanding debt.

I'm with CCCS and they don't "sort them out" either. Like Payplan, they ask for the interest to be stopped and it's down to the creditors to decide whether they do. You could write to the creditors directly.

To get the creditors to stop hassling you, you can send the letter that is used on here which tends to work.