Just started with payplan

yorkshireboyzone

Hi,
I have made my first payment to payplan and they have sent offers to my creditors, MBNA, LloydsTSB and Barclaycard. Does anyone know how long the offers take to get accepted or declined?
I am assuming that I have to keep making token payments to my creditors - is this correct?
Now that my creditors know that Payplan are involved will the nasty phone calls start?
Many thanks

Sea78

I don't think once you've sent the payment to payplan that you need to send any more token payments, as youve sent all you can afford to Payplan.

The contact might start, but I've had nothing yet, although do expect something!

Sea xx

looby75

I don't know how it goes with payplan but I have a dmp with cccs and once you start paying them you stop paying any token payments to your creditors, they then distribute your payments on a pro rata basis to everyone you owe money to.

The length of time it takes for a co to accept the offers varies from co to co. Egg and MBNA accepted my offer immediately, Halifax, GE money and kays still haven't accepted my offer almost 3 months after I and cccs wrote to them, and I've had phone calls and letters from all my creditors since starting on my dmp. I simply explain to them I'm with cccs and they are to contact me in writing only, then put the phone down if they try to bully me into agreeing to pay them more.

It will settle down though, the first few months are the worst so I'm told, and it gets better after that. Good luck

fatbelly

From my general experience of these three:

Barclaycard aren't too bad - a month or two.

MBNA won't accept your offer if it's less than I think 0.8% of the balance per month, but their appointed collector probably will - might take a few months.

LTSB are the most frustrating. Expect a series of stupid letters over the next 6-9 months from different parts of the organisation before they accept the offer you've already made. Letters from solicitors Sechiari, Clark & Mitchell are just part of the series of standard letters - don't get spooked by them.

Check with Payplan about whether you should pay at this stage and how much

Payplan are your appointed intermediary - refer any phone calls back to them. Don't get involved in long conversations with this bunch.

yorkshireboyzone

Nice one and thanks for the replies! I will e-mail Payplan to clarify whether I still need to make token payments.
Thanks again.

doodah

barclaycard are the only one of my creditors that haven't accepted yet! they've been really awkward, saying my offer isn't high enough even though it's almost as much as my minimum payments

Iwantmorecash

some will accept as soonas p[ay plan offer, others will try and get you to pay more and will take ages. and it seems to be diferent fror every one , my worst one was MBNA. they have frozen my interest but have still not accepted the offer mad in may 06. But they only send letters now as irequested that they stop phoning me.

HHH_2

Lloyds are a total pain and the only one of my creditors still writing to me and piling on the interest.

everclear1973_2

I hate lloyds,have been set up with payplan since september last year,and the only creditors still dragging it out are lloyds,saying they haven't had stuff from payplan etc.Getting letters form this sechiari clark mitchell lot saying they can send bailiffs etc,should i just ignore them? I have been paying lloyds through payplan for months now.:mad: