Payplan Pointless??

dj9928

I'm paying Payplan and they are paying my creditors but they may aswell not be for all the good its doing, I'm still getting tortured by phone and post by my creditors, Even had a debit collector call round, add to that say Payplan pay MBNA for example £10 MBNA Charge maybe £30 in interest etc so I'm getting nowhere.

I've have spoke to Paypal who tell me creditors are not oblidged to freeze interest, So I'm think whats the point? It would be easier just going bankrupt

lynzpower

No creditor is obliged to freeze interest, but they are much more likely to play ball with payplan than other feecharging DMP cos.

All these charges can be claimed back, dont forget.

If you are being hassled by phone, then hey, just report them for harrassment., theres lots of info. Sadly youll always get the mail. My advice is open it, skim read it- if theres nothing you need to do, then file it away. If your on a DMP its being dealt with.

Broken_hearted

Change your phone number.

System

How long has your DMP been set up? It can take a few months for creditors to freeze the interest but most do it almost straight away. Phone or write (probably better to write that way you have an audit trail) the creditors yourself and explain that you are on a DMP with Payplan, give them your Payplan Ref number. I found some of mine took a few months to freeze interest. Dig in, it will be worth it.

Lenny

artic_fox_2

hiya dj
stick with it eventually they will give up hassleing you in the end so long as you keep the payments regular if you dont care about your credit rating then its even better when they send the debts on to their debt agancy the interest is usualy stopped mine was but now ive got no credit rating but i dont care i dont want credit

You can't get a YES if you don't ask?

System

artic_fox wrote:

hiya dj
stick with it eventually they will give up hassleing you in the end so long as you keep the payments regular if you dont care about your credit rating then its even better when they send the debts on to their debt agancy the interest is usualy stopped mine was but now ive got no credit rating but i dont care i dont want credit

You can't get a YES if you don't ask?

Sorry, I forgot to say, the phonecall and letters will stop. Just keep posting your concerns here.

Lenny

madduck

Just wanted to post a quick message of support.

Like you I'm on a DMP (with CCCS, but very similar to Payplan). It is common at the start of a DMP for some creditors to keep us pressure. I think they use it as a lever. If you have money that you are pretending you don't, they hastle you enough and you'll give it to them. There must be very few people who are actually in that position, but they try it anyway.

There have been times when I've had the calls that I've felt like screaming back - "... if you think I've got the money don't you think I would pay it to you to get some peace!".

The main thing is to keep calm, just keep telling them that you are with Payplan and that you are paying as much as you can. After a couple of months the calls/letters will calm down. All you can really expect after that is 6 or 12 monthly requests for updates on your income and expenditure.

I_was_a_fool

Hi there

I am three months into a dmp with CCCS. So far 10 creditors out of 13 have agreed offer & frozen interest (after many many phone calls from some). Some have only frozen it for 6 months & will review after that, so this is a recurring process. It is a lot better than bankruptcy for me as I get to keep my home & my children are spared the upheaval of moving. Plus my debt is now going down, without the DMP it would be soaring up at an alarming rate! We can live OK on the budget we have & I no longer have sleepness nights & panic attacks.

Stick with it & it will get better....HUGS XXX

mh1923

Caller ID is a good thing. I never answer the phone if I don't know the number. That's what the answering machine is for.

System

mh1923 wrote:

Caller ID is a good thing. I never answer the phone if I don't know the number. That's what the answering machine is for.

I just sing opera down the phone when the number is witheld and and then put the phone down!