PayPlan

giddykipper

Hi there

More DMP questions - in particular about the company Payplan ....... those of you who have had dealings with them ....... what actually happens?

Apparently somebody is going to ring me tonight at home but I'm not sure of the process.

Do they ask you lots of questions about how you got into the mess you're in? I'm really embarrassed at the mess I've made of my finances and am ashamed to discuss it ....... do they make you feel awful??

Once they've rung me tonight to discuss the basics, what happens then?

How long does it (roughly) take for them to set up the dmp?

If a creditor won't agree to freeze the interest - can you still make smaller monthly payments to them or do they insist you still pay the minimum payment due?

Sorry for all the questions.

Thanks

Jo x

System

Ensure that you have all your CC stamements, outstanding loan amounts at hand. Also have you bank statement in case you are missing statements so you ensure that your include everything. THey may ask how you feel you got into the debt but dont be scared as that shouldnt have a bearing on any decision they make. Once they've spoken to you they will phone you back on the same night usually with a decision. From this point it will take about 6-8 weekd for the DMP to be set up. Listen to what they tell you and BE PAITENT.

Lenny

giddykipper

Thanks for your reply.

Do you have to send all the paperwork to them? (just thinking about getting all info together as most of my accounts are online etc so would need to print off statements etc).

And when you say they give you a decision ....... does that mean there may be a chance they just say 'sorry can't help' and that's that - you're left on your own again?

Thanks

Jo

moxie_2

From what I remember it is mainly factual, so have all the info ready as Lenny says. I only have good memories of the woman who helped me being really nice and non judgemental.

giddykipper

Excellent - thanks very much.

I suppose once you've given them the details of everything they can then get all the information they need directly from the companies can't they!

I was worried I was going to get a good telling off for getting myself in this state in the first place!

Jo

System

giddykipper wrote:

Excellent - thanks very much.

I suppose once you've given them the details of everything they can then get all the information they need directly from the companies can't they!

I was worried I was going to get a good telling off for getting myself in this state in the first place!

Jo

Yep thats how they do it - from the account numbers that they give you. Have a glass of your favourite tipple on stanby...

Mike_St_Helens

I found them very very good indeed. They are non judgemental and very inderstanding. Just make sure you have tour outgoings correct and make sure you include everything that you owe...

They are good, honest and as Lenny says, make sure you have a nice glass of wine with you as it can be a long call.

Eupho

giddykipper wrote:

I was worried I was going to get a good telling off for getting myself in this state in the first place!

Jo

Hi Jo.. Ive been dealing with them a tiny bit.. (but i keep wimping out.. grrrr)...
Everyone ive spoken to there.. on the phones.. and the *appointment* people have been really nice.. very calming I thought actually. They havent judged... or made me feel bad at all for the mess im in. To be honest i think you will breath a BIG sigh of relief once you get talking to them. Just make sure you have all you debt details to hand for when they call.

xx

Edited to add: Oo i just saw what the person above me said about a long call. My first call was long. (the one i chickened out on)..

So im starting with them again.. and the call (this weekend) they told me would be about 1hour.

giddykipper

Thanks everyone - I feel a lot calmer about it all now.

Jo x

Eupho

I have a Payplan question too actually ..

Does it mean you lose your bank account? I didnt want to mess with them, but both of them have credit cards I cant handle .. (barclays/barclaycard.. and Hsbc acc- and Credit card)... So Payplan lead me to think I may lose my accounts. If so whats happens to Direct debits? and is there anyway I can still shop online- make payment over the phone for things?.. (sensibly)

madduck

If you have debts in your DMP to the same bank or a bank linked to your current account you will be advised to open up another account asap for salary/benefits to be paid into. This is because most bank account terms and conditions allow your bank to 'off-set' debts on one account with others. So for example if you had a credit card with Bank of X owing £1000 and that was included in your DMP and also had a current account with Bank of X - they could take money out of your current account to pay for your credit card. There is a link on the board somewhere to see which financial institutions are linked - for example - if you had a current account with Halifax and a Bank of Scotland credit card you would be in the same position.

It isn't really too much of a problem. Dependant on the state of your credit rating - and for most of us at this stage it has been pretty bad - we've opened basic bank accounts (again loads of good posts on the boards) some of which offer some form of card for electronic payment options ie Bank of Scotland/Halifax basic account comes with a VISA Electron. Though there are a good few available. Just make sure that you don't have any links to your creditors on your DMP.