Help with Payplan interview.42000.00 in debt

Tixy

Sorry Lilly - i'd forgotten about the house and the equity. I did read it but not today.

At least you do hopefully have the option of selling to release some equity in a few years. There are people on here with DMPs for that length of time so its not that its impossible but its worth making sure you've considered everything first and, like you, know why you've discounted the other things, such as bankruptcy.

I'd still say Payplan or a charity above a fee charging company for a DMP every time.

At the end of the day, 17 or 25 years is neither here nor there because as soon as this house is sold I should be able to pay everything off and start afresh.

But if you go with the fee charging one in the short term you'll still be paying fees for those few years, and so will owe more at the point you sell (so it will take a higher amount of your equity to settle the debts).

Good luck with your DMP (hopefully with Payplan).

somewhere_up_there

apple blossom.
Good to hear your debt free journey.
Hopefully i can follow it and get debt free eventually, as i do want to pay my debts .
I tried to sort it out with the card companies myself, but to no avail.
Just a bit worried, after the phone call, that she did not give any advice.
Just said someone will ring Monday{sorry keep repeating myself]

What happened with your initial call, and then what happens?
Do they reject people ?

somewhere_up_there

If you are available payplan rep could you give me some advice on above

somewhere_up_there

Hi Lilly.
Things seem to be moving quickly for you,so that is all good.
Personally i would stick with Payplan.
Private companies all have sales and targets to meet[more stress]

immoral_angeluk

Tixy wrote: »

Payplan are a commercial company but they don't take a cut of a debtors monthly payment for a DMP. They make their money from other sources, such as selling IVAs and from contributions from the finance industry.

They are now one of the places recommended officially by MSE, and in fact if you go to CAB and they recommend a managed DMP they now refer you to Payplan.

CAB have a partnership DMP referral pilot scheme with CCCS now, but may advise payplan if giving options of all free agencies you can go to

lillibet_dripping

somewhere_up_there wrote: »

Hi Lilly.
Things seem to be moving quickly for you,so that is all good.
Personally i would stick with Payplan.
Private companies all have sales and targets to meet[more stress]

Hi Somewhere!
I have sat in the glorious evening sunshine here in Essex and decided that I will go with Payplan. At the end of the day, the number of years is immaterial because I NEED to move in a couple of years to look after elderly parents (God willing!)
I wouldn't worry about them calling you back on Monday. My initial call 'went away to crunch the numbers' and came back to me very quickly with the best option. I'm sure they will do their best by you. Try not to worry over the weekend. The weather is set fair so try to enjoy it. Mind you, I expected to feel relief once this rollercoaster was set in motion, but I still feel so exhausted and tired - the next few weeks will be the telling time but AT LEAST WE HAVE CONFRONTED THE PROBLEM AND ARE DEALING WITH IT. That is something to be proud of, I think:T

Mort

somewhere up there. I think Payplan did something similar with us, if I remember correctly it took about a month to get started. My debts were slightly more than yours.

lillibet dripping. Don't go with a fee charging company, that 8 year difference shows how much you will waste by paying them fees, 8 x 12 x 100 = 9,600:eek:

BlushingRose

somewhere_up_there wrote: »

Just finished your diary blushing rose.
Tixi will check out yours next.
You are all inspirational.
Nervous now.

Oh dear :-S
Not sure mine's the best one to read

BlushingRose

somewhere_up_there wrote: »

Blushing Rose what happened on initial phone call to payplan?

I'm not with Payplan hon, I'm with CCCS.

With the CCCS initial phone call, they used the details from their online Debt Remedy tool that they have on their website. The DMP actually is in Mr BR's name and so it was him who took the call.

BlushingRose

lillibet_dripping wrote: »

VB estimate 25 years:eek: I know that's because I'm effectively paying less to my creditors per month with VB but I feel more confident that they will be able to get the interest and charges frozen.

No, No, No, NO, NO!
Please don't go with a fee paying company - the only difference is that they will take a fee from you you to do *exactly* the same thing as Payplan (Or CCCS) will do....