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PayPlan
Comments
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Ive just applied for a Smile account so i can get ready to move my Direct Debits.. Im waiting now for the answer.. So far Ive had this reply..
Thanks for taking the time to apply
We're delighted to let you know we're happy to open these accounts for you:
A current account with an overdraft limit of £ 500
There are just a few more checks we need to do before we send your account details. There's nothing to worry about - we do it with all applications.
As soon as all these checks are done, and if everything's OK, we'll send your account details in a message like this one. So keep an eye on the 'application tracker'.
Im not holding out much hope though. As I tried a while ago to open 2 accounts and they both said *nope*
Ive just spoken to my dad.. and told him *all* .. It was quite a weight off my shoulders really. He was supportive and didnt judge me.. (thankfully!) Although he seemed to think I would be better declaring myself bankcrupt (eek!) Id rather pay it off really, Ive told him that. Nor do i want my name slapped in the local paper, I live in a tiny town.
Though I must admit, Im getting worried about being left with sod all to live on for the next however many years.Very proud of trying to deal with my debts. LBM 04/09
:T
[STRIKE]£34.217[/STRIKE] ~ 05/09. £33.817~ 06/09
to [STRIKE]13 [/STRIKE] 12 creditors. Doing my own DMP. :dance:
DMP mutual support member 309. NSD 12/120 -
Hi,
I'm also using payplan on a DMP, I can't fault them. I recently had a baby and while on maternity leave, our payments for the plan were reduced from £475 a month to £200 whilst my income was reduced, withouth any hassle at all. We are also remortgaging through their sister company Who's Lending.
I do have a question though, I was told that we had to have a basic bank account and weren't allowed to use a debit card or have an overdraft? Doesn't a visa electron breach this agreement? I have been looking into a prepaid credit or debit card, that are around and have been told that these are ok because they are prepaid with e vouchers. (Just the charges on them aren't so hot) I only have a cash point card at the minute, and its embarrassing to have to ask people to book things over the internet etc.
Any suggestions?
Thanks...0 -
I'm in a DMP with payplan and have a Visa Electron card with my basic Cashminder account with the Co-op. I don't have an overdraft and so can only use it to buy stuff when there's money in the account. I think the idea is not to go overdrawn which I can't, or take out more credit, which I wouldn't.Total debt May 2005 £83,232 :eek:
Total Debt November 2009 £0! DEBT FREE!
Proud to have dealt with my debts
Official DFW Nerd Club member no. 0280 -
moxie wrote:I'm in a DMP with payplan and have a Visa Electron card with my basic Cashminder account with the Co-op. I don't have an overdraft and so can only use it to buy stuff when there's money in the account. I think the idea is not to go overdrawn which I can't, or take out more credit, which I wouldn't.
Moxie
This is the same for me. I have a Visa debit through Lloyds TSB which, as a bank, is seperate to all of my other creditors. There's no overdraft so I can only spend any available balance, which normally isnt much!0 -
Coooo.. Ive just been working out my SOA for my Payplan phone call.. Im too ashamed to post it nowVery proud of trying to deal with my debts. LBM 04/09
:T
[STRIKE]£34.217[/STRIKE] ~ 05/09. £33.817~ 06/09
to [STRIKE]13 [/STRIKE] 12 creditors. Doing my own DMP. :dance:
DMP mutual support member 309. NSD 12/120 -
Eupho wrote:Coooo.. Ive just been working out my SOA for my Payplan phone call.. Im too ashamed to post it now
Go on, we've all been there. Don't worry or be ashamed. You are facing it, which is the main thing. And we might be able to help.Total debt May 2005 £83,232 :eek:
Total Debt November 2009 £0! DEBT FREE!
Proud to have dealt with my debts
Official DFW Nerd Club member no. 0280 -
Eupho wrote:Ive just applied for a Smile account so i can get ready to move my Direct Debits.. Im waiting now for the answer.. So far Ive had this reply..
Thanks for taking the time to apply
We're delighted to let you know we're happy to open these accounts for you:
A current account with an overdraft limit of £ 500
There are just a few more checks we need to do before we send your account details. There's nothing to worry about - we do it with all applications.
As soon as all these checks are done, and if everything's OK, we'll send your account details in a message like this one. So keep an eye on the 'application tracker'.
Im not holding out much hope though. As I tried a while ago to open 2 accounts and they both said *nope*
(
That was the 2nd reply I got within 10 minutes, then the full confirmation came 24 hours later that the account was setup
It said we'd "sailed through the final checks"
I've just logged into it now - all seems O.K. Just waiting to transfer money when we get paid next week.0 -
claireK wrote:Hi,
I was told that we had to have a basic bank account and weren't allowed to use a debit card or have an overdraft? Doesn't a visa electron breach this agreement?
Lots of basic accounts come with debit cards. Basically a debit card can only spend your money - no credit involved. So it's OK to have one with a DMP.
BTW, Our new account is a joint smilemore account with £500 overdraft. Adviser from payplan said this was O.K, but best to cancel the overdraft facility. This comes with 'proper' visa debit cards and a chequebook. It does cost £10 p/m but the cost of that is actually less than we pay on breakdown cover for our 2 cars! So, in reality it saves us money whether we use the breakdown cover or not - we would still be paying for cover somewhere. (Does that make sense)!!0 -
Thanks for that. We've had just a cash point card for over a year now, and while its taught us to budget (slightly!! End of the month is still always a nightmare!!!!) I really miss being able to shop / book things over the net.
I've sent a mail off to payplan to see if this is ok. I get worried that we are going screw the agreement up somehow...0 -
Hiya
Just to let you know I had my financial assessment with Payplan yesterday ........ and what a relief!!
I feel sooooo much better now. Although a little daunted at the fact its going to take 30 years to pay off!! However, this gives me a fair amount to live on, and like others, the lady jiggled things around a bit so that I had the maximum to live on every month.
She said that if I have any spare money that I want to use to pay off my debts I was best saving them up and paying a lump sum at the end of the year ...... I think this is what I'll do with any ebay earnings I get. I have a cash mini ISA with smile so thought I could put it in there, earn a bit of interest into the bargain and pay off x amount at the end of each year.
She was sooo lovley and reassuring. Just waiting for the paperwork now and then will start doing the whole bank transfer thing! She said that everything should be up and running with my first payment to Payplan at the end Feb/beginning of March!
I feel like a huuuuge weight has been lifted off my shoulders and I suppose £200 p/m for the next 30 years is worth not making myself ill over it and having sleepless nights (of which I was doing both)!!
She did offer an IVA but said that payplan was more flexible and I think I feel less guilty that I will be paying everything back - even though its going to take me forever! And on the plus side - that debt free date will just keep getting closer and closer the more I chip away at it with the extra I put away!
So, just thought I'd say to anyone who's thinking about it but is very worried/embarrassed to ring them - please do give them a call, they're lovely and helpful and have given me a way of living my life AND paying back my debts!!
Jo xOfficial DFW Nerd Club Member No: 286
Official DFW Long Hauler No: 177
Proud To Be Dealing With My Debts!0
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