DMP with Payplan, claiming PPI via their associated company.

euronorris

Lucy5781 wrote: »

As I would be paying back 14.5% of total claim value, £3000 claim would still be equal to £2565 off the debts. This I would be happy with.

All of it potentially shortens my time in debt, yes it's not the perfect way to do this but after almost five years dealing with all my creditors individually, going to Payplan has been the best thing I've ever done. My life is far less stressful.

But that's the point, it wouldn't have taken £2565 off your debt. It would have taken £3000 off (as the creditors wouldn't have put aside an amount to pay your claims company, they would have just taken it off your outstanding debt with them completely), and then you would have owed £465 to the claims company, on top off whatever was left on your DMP. Seems that this can be absorbed into your DMP with Payplan, but this is not always the case (and I'm not sure it's advisable either way - how much interest is applied, is it absorbed into the DMP in practice, or only in theory etc).

Anyway, you didn't have any PPI, so it's not something for you you need to concern yourself with anymore. I just thought this point needed clarification for others who might read the thread.

And, of course, it's always better for individuals to claim directly themselves as it will mean they get more money back (or reduce their overall debts by a higher amount without the risk of gaining an additional debtor).

dazla

magpiecottage wrote: »

Since this advice from Payplan is clearly very poor, I recommend anybody who has followed it complain to them.

Under the Consumer Credit Act 2006, Payplan then has to follow EXACTLY the same dispute resolution rules as the firms to whom the complaint was made.

I am with Payplan atm and an using the affiliated claims company to investigate my PPI. The claims company will not bill payplan customers for upfront payment, rather payplan will adjust the dmp accordingly to cover the bill for the claims company.

dazla

Lucy5781 wrote: »

As I would be paying back 14.5% of total claim value, £3000 claim would still be equal to £2565 off the debts. This I would be happy with.

All of it potentially shortens my time in debt, yes it's not the perfect way to do this but after almost five years dealing with all my creditors individually, going to Payplan has been the best thing I've ever done. My life is far less stressful.

I totally agree with you as I am in the same position, I am a payplan client and am using the affiliated claims company for the reasons I do not have any records of the loans & credit cards I took out years ago, and would not like to take this task on myself. The claims company contacted me yesteday to say that they had discovered PPI on at least 7 of my loans & credit cards, so hopefully I will lucky with the claim for redress. I am totally happy with thier their fees and would be grateful for any reduction in my dmp, however small

Lucy5781

magpiecottage wrote: »

With your employer's consent or have you defrauded them?

Yes with their consent, why do you have to be so negative??

tbf, they refused to pay my extra travel costs when it took them two months to arrange my internal transfer last year, so my pennies of postage are nothing compared to the the £150.00 they dented me with.....