PayPlan

giddykipper

No I haven't received anything yet either and my call with the case advisor is tomorrow also!



Fingers crossed its arrived in the post when I get home at lunchtime.

QUICK UPDATE:

Payplan called me at lunchtime to say that there is some paperwork going out in the post today so I should receive it tomorrow.

They have advised me to try and meet any payments linked with my current account (loans/cc's etc), stop the direct debits to any other creditors and make token payments to them.

Anyone know how long it takes to change details of a direct debit - ie/ with your mortgage company? If I could get my wage paid into my new bank this month, my mortgage payment is due out on 28th Jan - do you think it could be changed in time?

I just want eveything sorted asap!

Cheers

Jo x

System

giddykipper wrote:

Yes they did mention an IVA but the lady I spoke to didn't think it was in my best interests with my circumstances as they are at the moment ....... I'm in the middle of a split from hubby but need to keep the house etc. She thought it may be a lot more complicated.

Also I've never missed a payment on anything so she said sometimes in those cases its difficult to get 75% of your creditors to agree to the IVA as they think that you should still be able to make minimum payments! She also said that they can demand a certain % of equity from my property.

The way I'm looking at it is that things could change ........ if I did sell the house then I could still pay a lump sum toward payplan and really reduce my debt. I sell on ebay so make a little extra from that that I'm going to put into a cash mini ISA so that at the end of the year I can pay off a lump sum.

Plus, I have a spare room that I could now rent out to a lodger ....... in which case I should have more money to put into the ISA and pay off at the end of the year!

I'm trying to look on the bright side - which is that at the moment this is the best outcome for me especially with wanting to keep the house and not lose any equity.

Plus I feel better knowing I'm paying the full amount I owe back..... I got myself into this mess, now its up to me to get me out of it!

The lady assured me that things will be reviewed on a regular basis and there are always other options to take further down the line if this doesn't work out.

Thanks for all your replies and support - this is a great site and you're all sooo knowledgeable - I don't know what I'd have done if I hadn't found it!!

Jo x

Alrighty Jo

So all bases covered then - that's good - especially with the lodger. ALthough Im sorry to hear about split from hubby. I was in the same position as you as in I was making all the minimum payments as I entered my DMP and have never missed a payment through not having enough funds. She explained to me that it may not be possible to have a DMP because quite obviously I wasnt struggling with the repayments - which prompted me to ask the question 'Is it possible to have not enough debt?' Thankfully it never came to that and things are going swimmingly as Im sure they will with you. Would self negotiation with your creditors to freeze the interest be an option whilst you snowball the rest??? Whatever, keep us posted.

Lenny

System

giddykipper wrote:

No I haven't received anything yet either and my call with the case advisor is tomorrow also!



Fingers crossed its arrived in the post when I get home at lunchtime.

QUICK UPDATE:

Payplan called me at lunchtime to say that there is some paperwork going out in the post today so I should receive it tomorrow.

They have advised me to try and meet any payments linked with my current account (loans/cc's etc), stop the direct debits to any other creditors and make token payments to them.

Anyone know how long it takes to change details of a direct debit - ie/ with your mortgage company? If I could get my wage paid into my new bank this month, my mortgage payment is due out on 28th Jan - do you think it could be changed in time?

I just want eveything sorted asap!

Cheers

Jo x

It shouldnt take long but in the interim you could make an online transfer from your bank account if you have an online account??

TimmyP_2

I'm a good few months into Payplan now having set my account up in September. Most of my creditors have agreed to the proposal, but I'm still waiting on 2 out of the 7. I've spoken to these two today and they should be sorted very shortly.

I've been more than impressed with Payplan and think you will be too - make sure you sign up for their Justabank service - very helpful.

I can't believe the change around in my outlook on money now compared to 12 months ago. With MSE and Payplan/CCCS, you can't go wrong as long as you remain disciplined!

Iwantmorecash

pay paln were good to me when i calle in may last year,
but my DMP cocked up abit around christmas...... as in the payment left on dec20th and is yet to hit my creditors , i hope its onlt a small hicup

TimmyP_2

Iwantmorecash wrote:

pay paln were good to me when i calle in may last year,
but my DMP cocked up abit around christmas...... as in the payment left on dec20th and is yet to hit my creditors , i hope its onlt a small hicup

My payment went out on the 28th Dec and reached my creditors on the 14th Jan - I'd get in touch with PP and let them know that it hasn't hit your creditors. Got to be worth checking I would have thought?

Iwantmorecash

was on the phone to them last week.... it should be sorted by tomorow or wednesday,
but the nicepeople at gold fish decided to charge me over 200 quid in iterest because the paymant was missed, gota try and beg them to remove that tomorow :A

ashden

Well my paperwork didn't arrive in the post this morning and PayPlan are calling in an hour. I know there's a probably a very good reason for it not turning up but it doesn't do my nerves any good when it's such a stressful time already. I couldn't get through to PayPlan to talk to anyone about it yesterday and I'm just worried that this is a sign of how things will go with them - promises to post things out but nothing turning up, not being able to get hold of the case advisor when I need to etc...

giddykipper

Maybe when you speak to your case advisor he/she will be able to clarify things for you. I have my call tonight so am hoping the paperwork will be in the post today.

Good luck - let us know how you get on .... and what the call is all about.

Cheers

Jo x

giddykipper

lennymfo wrote:

Alrighty Jo

So all bases covered then - that's good - especially with the lodger. ALthough Im sorry to hear about split from hubby. I was in the same position as you as in I was making all the minimum payments as I entered my DMP and have never missed a payment through not having enough funds. She explained to me that it may not be possible to have a DMP because quite obviously I wasnt struggling with the repayments - which prompted me to ask the question 'Is it possible to have not enough debt?' Thankfully it never came to that and things are going swimmingly as Im sure they will with you. Would self negotiation with your creditors to freeze the interest be an option whilst you snowball the rest??? Whatever, keep us posted.

Lenny

Hi Lenny

Thanks for all your great advice on this thread.

Can you explain what you mean about snowballing the rest? Am quite new to all this lark and not sure I understand 100%.

Do you mean as in do the snowball calculator and put in that they're all at 0% int and see what it comes up with?

Cheers

Jo x