Payplan help..

djm2013

Great - I'm just worried about one creditor in particular (Everyday Loans) - what happens if they don't enter in the agreement? Will I pay everything else in the agreement and make the payment to Everyday as 'agreed' when I took the loan out?

Mort

djm2013 wrote: »

Great - I'm just worried about one creditor in particular (Everyday Loans) - what happens if they don't enter in the agreement? Will I pay everything else in the agreement and make the payment to Everyday as 'agreed' when I took the loan out?

In a DMP all creditors are paid proportionately. A creditor may not initially agree to the DMP payment amount but they can't refuse to accept the payments sent to them.

moggygems

Hi

Sadly I can't give any advice but I am too currently considering DMP. It's a big step admitting you need help but from what I read on here it's the best thing you have done.

I was scared, worried etc but reading the DMP thread and others on here have calmed some of my own worries.

Good luck and you are in the right place.

djm2013

Brilliant! Thanks all! I've got an appointment booked with an adviser for 8am tomorrow. Have arranged for my salary to be paid to someone else's account and will close my HSBC. Have also arranged another basic account which will be opened by the end of the week! Please keep your fingers crossed.

chevalier

Hi there
As others have said, Payplan are a fine company. Not heard of anyone having problems with them.

As regards your payments to your creditors this month. Have a talk to payplan about that. I am guessing (emphasis on guessing) that they will give you a template letter to send to your creditors telling them you are setting up a DMP.

As regards your bipolar, I know that some people with this condition have had their credit files noted, that they are a vulnerable person, and that extra checks should be done when that person applies for credit. This might be something else to chat to payplan about.
good luck
chev

djm2013

Thank you! I've spoke with them this morning - just paperwork to sign. I'll be debt free in 5 years

youknowthis123

djm2013 wrote: »

Great - I'm just worried about one creditor in particular (Everyday Loans) - what happens if they don't enter in the agreement? Will I pay everything else in the agreement and make the payment to Everyday as 'agreed' when I took the loan out?

Hi, how did it go with Everyday? I'm in a similar position with them so would be good to hear you experiences.

YKT