advice needed - Payplan/Credit cards.

legoman

I am still waitng for my payplan stuff to come through, um i believe it's a £1 to your creditors thing? my only worry is is that my credit card companies will start pestering me in about 5 days time!

should i just wait until the stuff arrives and ignore the phone calls. the cc company will try and phone every day until i answer! what should i tell them? go away and wait for my letter from PP?

any advice is appreciated.

thanks guys.
mike.

Broken_hearted

Tell them they have to talk to payplan.

TallGirl

Pay them the £1 each now if that is all you can afford then when they get the letter with you offering £1 they might be more likely to accept it as it shows you are keeping your side of the offer. Good luck and don't get intimidated by the creditors they will just try to get more money from you.

legoman

ok, so if the cc company call me up i just say - speak to Payplan! - and they will do that? if they say, not being racist here, as most of the companies have indian people working for them, that they don't understand and want the full ammount do i just keep referring them to payplan! or give them a quid?

i'm probably panicking but they do intimidate me and just feel that they wont listen to me. if i just say talk to payplan and hang up they might say well give us all our money back now!

i am sort of with Payplan so if they have a record of my phone call and the forms they are sending me does this mean i can tell the cc company about them?

mike.

TallGirl

When Payplan send you the selfhelp pack just get your letters off asap and stick to your guns if £1 is all you can afford. They will continue to hassle you but just say I will write to you with an offer of payment and a full financial statement. Alternatively go to the CAB they have information about what mounts to hassesment and what doesn't in case you want more information.

System

Don't ignore the calls. Explain that you have entered into a debt management plan with Payplan and give them your Payplan ID number. Never neogotiate or enter into dialogue with the creditors let Payplan speak with them on your behalf. Make token payments that you can afford. Your probable next step will be to open a new bank account that is not associated with your creditors. You can find more information at the following link:

http://forums.moneysavingexpert.com/showthread.html?t=180121

Let us know what happens.

Lenny

Broken_hearted

They will call anyway so just keep refering them back to payplan. As for wanting all the money back then yes they most likely will but if you don't have it you can't pay it.
Don't let them stress you they want you to stress, so you end up giving them more than you can afford.Make sure you keep posting, we will stay with you every step of the way. Hugs

legoman

right-o. i am opening a bank account next week i just need to get a projected income off my new employer - my dad. i will be getting a regular income from working with him from december 1st!

i dont have a payplan ref number, will i get this in the pack they send me?

legoman

still no envelope from Payplan... I need to get this stuff sent off! still no statements from HSBC either. the end of the month is looming and i need to start sending cash to credit cards! my barclaycard is £200 over it's limit and i don't think they will be nice to when on the 5th of december their computer phones me up and asks for it's money!


:eek:

Hobsch

Hi Legoman,

I am dealing with Payplan. When I was setting it up I had calls from the CC companies and my highest amount owed was with Barclaycard. My limit was £3750 and it was at £4200 because of charges. It had been referred to Mercers who are their collection agents and both kept phoning. I had made offers of £60 per month but turned down as they wanted £91 plus arrears. As soon as I mentioned Payplan to them they accepted £42 as 1% of the balance. Less than I was offering to them. So dont worry if they call and do just mention Payplan to them.

legoman

Hobsch wrote:

Hi Legoman,

I am dealing with Payplan. When I was setting it up I had calls from the CC companies and my highest amount owed was with Barclaycard. My limit was £3750 and it was at £4200 because of charges. It had been referred to Mercers who are their collection agents and both kept phoning. I had made offers of £60 per month but turned down as they wanted £91 plus arrears. As soon as I mentioned Payplan to them they accepted £42 as 1% of the balance. Less than I was offering to them. So dont worry if they call and do just mention Payplan to them.

hi, thanks for the heads up!

yes my limit is 3500 and it's currently sitting at 3700 but this is through a rejected direct debit so the interest went up £100 on top of the £100 i owed. it makes me sick!

i just called payplan and spent 10 minutes telling the indian my post code which was suprising! she just said the post can take a long time... very reassuring! as for my stements, HSBC probably slipped my letter into the pending tray that looks suspiciously like a bin!