Payplan support running out ?

CalJake

Hi there,

I wonder if anyone else has come across this ?
I have debts of about 70k which I am paying off through a debt reduction plan with Payplan. However, when I took this out Payplan stated that because the debt would take a long time to pay off they would only support us for 12 months. That 12 months is almost up, and I have tried contacting Payplan, but presume they are very busy.

Has anyone else come across this, and what did you end up doing ?

Thanks

waytogo_2

Ahhhh Debt Mangement companies.................beware:mad:

waytogo_2

Ahhhh Debt Mangement companies.................beware:mad:

livinginhope

I am also paying my debts through Payplan,I wasn't told it would only be for 12 months??? now you got me worried!!!
I would like to say that I NEVER have a problem getting through on the phone to them and they are always there to offer support.
By the way,they have changed their number as of 01/08/06 are you ringing the right number?

livinginhope

waytogo wrote:

Ahhhh Debt Mangement companies.................beware:mad:

What's that supposed to mean Payplan are non profit supported by the creditors.Nothing to be afraid of

Wonder_Girl

What tends to happen is that 12 months after your initial assessment you will be assessed again as your circumstances may have changed. a DMP may not still be your best option.

Also all of your creditors will have only agreed to freeze interest for 12 months and will be after an update from your DMP company.

All it will involve is a look at your income and expenditure, see if anything has changed and see hoe you are managing on your DMP. If DMP is still your best option it should continue for another 12 months. then repeat.

desperatelyinthered

Following on from Wonder_girl, I believe that after 12 months your case is then transferred onto the 'long term' team who look after you for the rest of your plan.

frankie1_2

I can confirm the details regarding the 12 month revue of your DMP.
I spoke with Becky fromPayplan this morning regarding my repayment dates and she confirmed that my account would be reviewed in 12 months by my creditors and Payplan

CalJake

Thanks all for your replies, that's put my mind at ease