Payplan help..

djm2013

Hi all,

My first post - it's taking me a while to register and type this!

To cut a very long story short - I'm bipolar, and have got myself into a massive pickle with payday loans and catalogue accounts.

I can't find any way out! So I've been looking today at a free DMP with Payplan, but for obvious reasons, am very nervous to get involved.

Has anyone used it?

I was just wondering if anyone knew, what type of documentation I'd need - will I need statements and bills etc and payslips or do I fill in a form with my expenditure and we're good to go? Am I better to pay nothing to anyone whilst I'm sorting it out and just telling them that I'm in the process of setting something up? Do people like Wonga accept DMP's??

Sorry for all the questions - any help will be greatly appreciated.

Thanks in advance - a very worried young man :eek:

unimaginative_user_name

I can't answer all your questions but I've heard nothing but good comments about PayPlan on this forum. They are certainly better than a fee-charging company as all payments go to paying ack your debt.

I've also heard that Wonga are ok with DMPs.

I'm sure others will be able to answer your other questions.

Good luck!

sharp82

Hi,

I'm in a DMP with payplan, that includes Wonga.

Its really easy to set up with payplan, no forms. Just have details of your expenditure and income to hand, also who you owe money to and account numbers. They go through these over the phone with you, and then post a form out for you to check, sign and send back. Once they receive they start to contact your creditors.

Once you have had you initial call with payplan, they will give you a reference number. Let your creditors know this, and they should freeze interest and charges. However, there is no guarantee on this.

You'll also need to set up a new back account, especially if an overdraft is included as a creditor. This will mean cancelling existing payments to your creditors. Send them a token payment of £1 until the DMP is in place.

Wonga were the easiest to deal with, and the first creditor to accept my DMP. I imagine they are quite used to it!

Good luck! Its quite daunting making the first step, once you've spoken to payplan you'll feel so much better and wish you'd contacted them sooner. Let me know if you have any further questions...

antonic

I have just completed a 90 month DMP with Payplan and cleared £24k of debt.

I cant recommend them highly enough.

Go with them.

Stewart_78

Give them a call, it will be fine. They are not there to hassle you and will smooth out all the issues. If I remember I called them and they booked a phone session for about a week later and told me everything I would need to get together.

Go for it and stick on here if you need help or support.

djm2013

That's great - thank you all for you help

Mort

Payplan got us out of the mess we were in. They were very easy to deal with.

djm2013

sharp82 wrote: »

Hi,

I'm in a DMP with payplan, that includes Wonga.

Its really easy to set up with payplan, no forms. Just have details of your expenditure and income to hand, also who you owe money to and account numbers. They go through these over the phone with you, and then post a form out for you to check, sign and send back. Once they receive they start to contact your creditors.

Once you have had you initial call with payplan, they will give you a reference number. Let your creditors know this, and they should freeze interest and charges. However, there is no guarantee on this.

You'll also need to set up a new back account, especially if an overdraft is included as a creditor. This will mean cancelling existing payments to your creditors. Send them a token payment of £1 until the DMP is in place.

Wonga were the easiest to deal with, and the first creditor to accept my DMP. I imagine they are quite used to it!

Good luck! Its quite daunting making the first step, once you've spoken to payplan you'll feel so much better and wish you'd contacted them sooner. Let me know if you have any further questions...

Thanks for you help - just one question.

I don't have any debt at all with my bank...do I still need to change bank accounts? A lot of my debt is on recurring payments on my Debit Card, so I plan on cancelling my debit card to stop those from going through.. Thanks in advance.

Vikipollard

The continuous payment authority will not be stopped by cancelling your card.

Although you may not owe your bank any money, you would be wise to change accounts to stop the likes of Wonga (and any other payday loans) raiding your account. Get your money paid into the new account. They will also be far more likely to agree to a repayment plan if they have no access to your account. Just don't give them your new card/account details and let payplan deal with them on your behalf.

You can tell your bank that you withdraw consent for the continuous payment authority as well, but I personally would change to an unrelated bank.

djm2013

Thanks all for your help - I'm still a bit anxious but feel better hearing good reports.

I'm sure I'll be in touch if I have any further questions

Bangton

They also helped us out of a massive pickle we'd got into...nothing bad to say about them at all!