Spoke to pay plan . Right decision?

benny_hawkins

Unfortunately for me,£100 is all I can afford to realistically pay at present.
I hope that the change of acct from Barclays to nationwide is smooth, and that nationwide
Sort out the direct debits ( mortgage utilities etc) as they say they would.

Also , I don't know how long it takes my salary to be paid into my new acct.
I will give wages lady the new acct details tomorrow.

By the way, what myself and my brother were talking of doing, was living together.
He is currently letting out his flat, but could sell it and move in with me. He is staying with me
At present, and we seem to be getting along,)
This would take time ,as he has to see if tenants will stay or move on after sept.
And of course , selling his property will take time.

If he does sell, then he buys into half of the value of my property and , all going well , the mortgage
And loans would all be cleared.

Cheers

fatbelly

benny_hawkins wrote: »

I do realise I will not get credit for six years.
I don't know how long will the Payplan go on for, or how the people I owe money to get all I owe.

If you've got 27k of non-priority debt and can pay £100 per month then a debt management plan will look for interest to be frozen and repayments made for 270 months. That seems (and is!) a long time, but the plan can be subject to regular reviews and at least your debt is decreasing.

Don't expect sensible advice from Barclays and don't secure anything else against your property.

benny_hawkins

fatbelly wrote: »

If you've got 27k of non-priority debt and can pay £100 per month then a debt management plan will look for interest to be frozen and repayments made for 270 months. That seems (and is!) a long time, but the plan can be subject to regular reviews and at least your debt is decreasing.

Don't expect sensible advice from Barclays and don't secure anything else against your property.

Thanks . I certainly won't put anything else on the house.:)
I'm not sure what to expect on weds. I intend to pay more than£100as soon as I can afford.

benny_hawkins

I am a little apprehensive about my new nationwide bank acct.
I hope that all the direct debits are transferred properly on time.
The lady at nationwide just took my Barclays connect card and said that I need do nothing,as
All direct debits will be set up.

benny_hawkins

Got txts from nationwide , telling me my acct has been validated ,
And that they'll Contact Barclay s. about my. direct debits.

Pay plan haven't received my signed letter yet, so I'm worried

benny_hawkins

Would you believe it! By coincidence, RBS sent me a letter telling me they are putting the interst up.
No reason was given.
I only posted the form to Payplan today, instead of yesterday.

Oh, we'll...

benny_hawkins

Joined Payplan . I took their advice, and cancelled all direct debits with Barclays( main current acc)
Tried to close Santander acct today. All direct debits were cancelled,and zero in account.
They cannot close it , as credit card is. Linked to the account. Worried now.

Also went to nationwide, and asked to delete the 4direct debits linked to payplan(loans/credit cards).
Never told them that I'm in Payplan. They said they haven't received debits from Barclays.
On my txt message ,nationwide said they have.

Now I am worried and confused.

Now I have to wait and see if Payplan can sweet talk the creditors , to accept me.

Please pray for me,)