PayPlan

Watson

Yes, I'd just like to say I agree with that. I hope my earlier post didn't put anybody off - that wasn't my intention at all. The PayPlan advisor spent a good half hour or longer with me, going over my situation and exploring various possibilities. He was as sorry as I was that I didn't fall into the normal range of their clients and that they couldn't therefore help me.

JHW

JGWT8M

Watson wrote:

He was as sorry as I was that I didn't fall into the normal range of their clients and that they couldn't therefore help me.

+1 here too, they couldn't run a DMP for me either, but what they did tell me has probably saved me from going insane (sooner rather than later).

I've got to say as well, the Banks have been pretty good too, once we got over the initial "I'm not talking to you on the phone so put it in writing and don't waste your time calling" scenario all has gone pretty well, all but one bank has frozen interest and charges, Barclays & Egg did this by passing the debt to a DCA who were both quiet happy to accept my DMP, MBNA have frozen interest and charges but won't accept the DMP but won't do anything else so far and only Bank of Scotland refuse to co-operate, I have a theory on this though - probably sour grapes after I claimed back the PPI payments and bank charges before telling them I was having a bit of trouble paying

The one problem I have is the Factoring Company who have gone all the way and issued a CCJ against me, they want full payment, have refused all offers of installments, and refuse to freeze interest and charges and have basically called me a liar to the Judge (implying I have plenty of money and my claim to have nothing is a lie), hopefully the Judge will see through this when we actually goto Court (whenever that is) and say that they are the ones being unreasonable considering what other creditors have done and they should accept what I'm offering or they risk loosing everything, hmm we'll see.

So two golden rules of debt:

1) get interest and charges frozen before claiming back PPI and charges
2) Don't let a Factoring Company get involved, get the company to sell the debt to a decent DCA

Watson

Belfast:

belfast wrote:

I used the 'justabank' website that Payplan uses and printed out the letter templates asking for a reduction in interest to some of my creditors.

Thanks for that advice. I just looked at JustaBank to see the letter templates but I can't get onto the site without a password, which I think you only get if you're signed up with PayPlan, is that right?

Edited to add:

I've now found the letter templates on the PayPlan site itself. They're included in the Guide to a Successful Informal Arrangement pack, which is here.

JGWT8M:

I'm grateful for the further details. One more question, if I may: did you use those PayPlan template letters for your initial approaches to your creditors?

JHW

belfast_2

I think Payplan try to get your interest scrapped or frozen after you apply. They state that they can not guarantee it.

Capital One scrapped my interest as long as I paid it off via Paypal but Cahoot and Argos card did not. I owe Cahoot the most money!

I have been with the plan for 6 months and after reviewing what I pay I have now wrote to Cahoot and Argos Card. Cahoot, when I joined 5 years ago had interest at 4.5%. It is now at 11.9% and rising. Argos card which had free interest then bumped the massive 29.9% onto the account.

It will take forever to pay off at those rates. Every month argos gets £5, £3 of that is interest.

I only wrote to them last week and I am hoping for a positive response.

Fingers crossed

JGWT8M

Watson wrote:

JGWT8M:

I'm grateful for the further details. One more question, if I may: did you use those PayPlan template letters for your initial approaches to your creditors?

JHW

Yes I did, just tweeked slightly.
I made the letters a bit more personal and mentioned Payplan but that was about it.

I sent the initial "I'm having problems, please send me up to date balance" letter, when the replies to that came, I wrote the DMP proposal and sent it off with my first months payment, all rejected my proposal but all cashed the cheque, when their rejections came back I sent the third letter asking for them to reconsider. They still rejected it but I kept paying and when they asked, told them it was the best I could do and I couldn't pay any more that I was already.

After 5 months Barclays and Egg accepted the proposals (via their DCA) and the other two still remain sitting on the fence.

One bit of advise, don't phone them, and don't answer the phone to them, these people can be very good at getting money out of you that you can't really afford - it's their job don't forget.

Now a question for you if I may

Have you ever been through a VAT inspection/audit?
Got a call today, I'm s!!!!!!!g myself about it even though everything is above board, the woman on the phone made me feel like I'd done something wrong already.

Watson

JGWT8M,

Thanks for the details. Very useful, as it seems likely I'll be going down the same route myself.

JGWT8M wrote:

Have you ever been through a VAT inspection/audit?

No, never; and if the prospect is that alarming, I'm heartily glad of it!

Actually, in view of my recently diminished income levels I'm serously considering de-registering. It's one more financial hassle I can do without, just at the moment.

JHW

Gemmzie

www.nationaldebtline.co.uk Have all the letter templates, if you are asking for a lower payment, freezing interest etc

Watson

Gemmzie,

Thanks; I'll take a look.

JHW

JGWT8M

Watson wrote:

No, never; and if the prospect is that alarming, I'm heartily glad of it!

Actually, in view of my recently diminished income levels I'm serously considering de-registering. It's one more financial hassle I can do without, just at the moment.

JHW

Be careful, that's what prompted my inspection so the lady told me today, and all I did was asked what the procedure was.

They have "noted my declining turnover and income and want to see if they can help", read that as, "you don't make enough to live but are not BKY yet so what are you hiding?".

Wish I could have a camera ready when I tell the inspector all about what credit cards are.

Everybody's told me today that I'm guilty until I prove myself innocent with them, but at least the VAT was something I made sure was 110% right every quarter.

Watson

JGWT8M wrote:

Be careful, that's what prompted my inspection so the lady told me today, and all I did was asked what the procedure was.

There goes that idea then! Thanks for the information.

JHW