yearly review with Payplan- what to expect?

funkyfish586

HI all, im really worrying myself about this, we are on a DMP for a year in feb & we have just had an email to say our yearly review is due & booked for Monday. We have just had a baby & apart from that nothings changed, we are managing to survive on the extra Child benefit we are receiving for my new daughter. I have a feeling they will try to demand more money but we simply cant give them anything. Is this ok? What do i need for it? do they ask for utility bills, pay slip etc?xx

Pott5y

Funkyfish,

Firstly do not worry yourself about your annual reveiw with Payplan, it is just standard practice for them to talk things over with you and ensure that your situation has not changed and you are still able to make the payments. Remember even though you are getting the additional child allowance you will now have more expenditure so it might be that you could negotiate a lower payment to them.

Just be honest and they will discuss the options with you. They cannot and will not demand any more money off you. It up to you to you and you alone. I had 6 annual reveiws and I never once paid them another penny.

funkyfish586

Pott5y wrote: »

Funkyfish,

Firstly do not worry yourself about your annual reveiw with Payplan, it is just standard practice for them to talk things over with you and ensure that your situation has not changed and you are still able to make the payments. Remember even though you are getting the additional child allowance you will now have more expenditure so it might be that you could negotiate a lower payment to them.

Just be honest and they will discuss the options with you. They cannot and will not demand any more money off you. It up to you to you and you alone. I had 6 annual reveiws and I never once paid them another penny.

thank you so much for answering! We really dont want to lower it to creditors & also cannot afford more. Im a worrier lol! xx

Soph86_2

I use Paypal for my DMP - I find that if you're honest with them and tell them what you want your budget to be (realistically) they fudge all the other figures to make it appear acceptable to your creditors anyway. I was completely honest with Paypal about what of my money goes where (and included payments to Sky etc which creditors won't accept) and they changed the figures to still give me the budget I needed, but to swallow up the payments creditors won't let you have. If that makes sense.

So, in short, don't worry!

Soph x

funkyfish586

thank you!! did you have to give utility bills or a payslip or anything? they didnt ask me for any thing but just making sure xx

Payplan_company_representative

funkyfish586 wrote: »

thank you!! did you have to give utility bills or a payslip or anything? they didnt ask me for any thing but just making sure xx

Hi funkyfish586,

if you are in an IVA you would need to provide your payslips and your P60, but if you are in a DMP you wouldn't be asked to send in those things. I'm sure if your case officer needed anything they would have let you know.

Lizzy.