Just going on DMP plan with Payplan

mitchellsx

Hi all new to this forum, ive just entered into a DMP plan with Payplan, just wondering if anyone has had an expereince with this DMP plan and if everthing has gone smoothly.

They are dealing with 10 of my creditors which range from credit cards, payday loans, loan with bank and overdraft. Should I contact all the creditors and let them know I am doing a DMP plan? my payments for my 4 pay day loans are due at the end of the month and im not sure if I should give them the heads up that im gonna use a DMP plan, before they try and take money from my bank account.

Thanks

Simon

antonic

Only if they contact you.

HBOS consistently rang me while I was waiting for my DMP to start but all I told them was that I was entering a DMP and payments would start then, that made for a short conversation !.

mitchellsx wrote: »

Hi all new to this forum, ive just entered into a DMP plan with Payplan, just wondering if anyone has had an expereince with this DMP plan and if everthing has gone smoothly.

They are dealing with 10 of my creditors which range from credit cards, payday loans, loan with bank and overdraft. Should I contact all the creditors and let them know I am doing a DMP plan? my payments for my 4 pay day loans are due at the end of the month and im not sure if I should give them the heads up that im gonna use a DMP plan, before they try and take money from my bank account.

Thanks

Simon

Standingtall

Hi Mitchell. I think you will find the debtfreewannabe general forums have lots of advice that is specific to DMPs. This forum tends to be more suitable for DROs and IVAs


EDIT
IT SEEMS THIS POST HAS NOW BEEN MOVED - THE ABOVE COMMENT WAS MADE PRIOR TO THIS.

galei

I entered a DPM with payplan and from day one they took over everything and all the calls ceased, and i have now been with them for 5 years annd never had one problem.
when you set out your budget just make sure you dont oversstretch yourself and stick to what you can afford

galei

sickasachip13

Hi Simon, I recommend you take a look at DMP Long Haul Supporters Thread - there's loads of us there in the same boat as you :-)

eyeopener2

Hi Simon

Have you opened a new bank account?

If so don't worry about the payday loan crew, they will shout and scream a lot but they get treated the same as your other creditors. I had four at one point, although Wonga cleared my account just befroe the DMP started.

The other three were not bad. One was a pain but that got transfered to a Debt Collector so I just paid them instead.

Good luck.

E2

Mort

mitchellsx wrote: »

Hi all new to this forum, ive just entered into a DMP plan with Payplan, just wondering if anyone has had an expereince with this DMP plan and if everthing has gone smoothly.

Thanks

Simon

I was in a DMP with Payplan and for the most part it went smoothly. It took a while for the creditor phone calls and letters to stop. Payplan staff were friendly and I found their online service handy.
The things that did not go smoothly were fairly minor and not really down to Payplan A payment to one creditor went missing in the creditors system and I started overpaying Payplan without going through a review first which threw them for a while.
I have no regrets about using them.

lindann_2

Good luck on your dmp with payplan, l would make sure that any bank account you have not linked to any debts/creditors, l would get a basic account so you can have income paid into with out the worry that the bank will take their share out of it. There are of course downside in the basic bank account, with its limits. But you will find that payplan and justabank.co.uk which is very good at seeing how the dmp is being run.. Set a good date so your payments goes out before the creditors statement, otherwise you will be sure to get charged by the creditors. Send any letter, do not respond to phone call but tell them to speak to payplan. They are very good at easing the worry of managing the debts etc and its a free service.. we are in our last year of our Dmp,