StepChange or PayPlan Debt Management Plan

Ron_Swanson_2

Hi all.

I'm thinking about signing up to a Debt Management Plan with one of these charities but I have a few concerns:

- I'm currently managing my debts personally and they all have frozen interest; is this likely to change with a Debt Management Plan (I don't want to be paying more than I have to for longer than I have to)?
- Are these charities trustworthy and reliable? They certainly appear to be having read up on them but a few seem to have had negative experiences (mostly in terms of organisation not ripping people off).
- From experience is it easy to access your balances online?
- Are they understanding in regards to changes of personal circumstance (e.g. change of job or something like that).
- Will they keep debt collectors off my back if I keep up with the plan or provide adequate notice of a change of circumstances?

Thanks in advance for any advice.

Standingtall

Ron_Swanson wrote: »

Hi all.

I'm thinking about signing up to a Debt Management Plan with one of these charities but I have a few concerns:

- I'm currently managing my debts personally and they all have frozen interest; is this likely to change with a Debt Management Plan (I don't want to be paying more than I have to for longer than I have to)? it is difficult to say but all my interest and charges were stopped when i commenced my DMP with Payplan
- Are these charities trustworthy and reliable? They certainly appear to be having read up on them but a few seem to have had negative experiences (mostly in terms of organisation not ripping people off). Yes - although some self management is recommended as they do not, for instance, add interest or charges to the balance they show online - i had some at the beginning of my DMP before they were all frozen / stopped
- From experience is it easy to access your balances online? I use Payplan plus, an online tool, and it is fab
- Are they understanding in regards to changes of personal circumstance (e.g. change of job or something like that).this is not applicable to me so cannot say
- Will they keep debt collectors off my back if I keep up with the plan or provide adequate notice of a change of circumstances?Again I cannot comment

Thanks in advance for any advice.

Please see my comments in red which I hope help you.

Some posters may enquire as to why you are changing to a charity if you are already doing ok managing it yourself? Again i could not comment on the benefits of going it alone as I have not done so.

Good luck
ST

Ron_Swanson_2

Standingtall wrote: »

Please see my comments in red which I hope help you.

Some posters may enquire as to why you are changing to a charity if you are already doing ok managing it yourself? Again i could not comment on the benefits of going it alone as I have not done so.

Good luck
ST

Thanks for your reply, it sounds that like many you've had a good experience with PayPlan at least.

My problem is I've got multiple payments coming out of my account and multiple debt collectors calling me for reviews, etc, on a regular basis with no easy way of checking balances (bar calling each one). What I'm really after if for it to all be centralised as it's quite stressful having to deal with multiple companies like this myself (if that makes sense?) Also they're professionals and I'm not, so I guess I'd feel more comfortable with that.

I appreciate your adivce.

Ron (not my real name by the way should any moderators be concerned!)

FireWyrm

Ron_Swanson wrote: »

- Are these charities trustworthy and reliable? They certainly appear to be having read up on them but a few seem to have had negative experiences (mostly in terms of organisation not ripping people off).

they are the only officially sanctioned method of debt management that are recommended on this site. Do not pay for a service, do not entertain calls from [STRIKE]shysters[/STRIKE] services who purport to help [STRIKE](themselves to your money)[/STRIKE] you.

Ron_Swanson wrote: »

- Will they keep debt collectors off my back if I keep up with the plan or provide adequate notice of a change of circumstances?

.

No one can do that for sure. However, you can by simply issuing them with a letter revoking their right of common access and demanding that they only deal with you in writing. However, StepChange are well known and well respected and most [STRIKE]maybe[/STRIKE] of even the hardened [STRIKE]criminals[/STRIKE] DCA's tend to leave you alone once you are in a recognised programme.

Ron_Swanson_2

FireWyrm wrote: »

they are the only officially sanctioned method of debt management that are recommended on this site. Do not pay for a service, do not entertain calls from [STRIKE]shysters[/STRIKE] services who purport to help [STRIKE](themselves to your money)[/STRIKE] you.




No one can do that for sure. However, you can by simply issuing them with a letter revoking their right of common access and demanding that they only deal with you in writing. However, StepChange are well known and well respected and most [STRIKE]maybe[/STRIKE] of even the hardened [STRIKE]criminals[/STRIKE] DCA's tend to leave you alone once you are in a recognised programme.

Excellent. I think I'll go with StepChange although there doesn't appear to be much between the two charities.

They appear to offer an online information service too (as with PayPlan), do you have any experience of their online features?

Thanks.

- Ron.

National_Debtline

We work with both organisations. As we do not operate our own DMPs we use Stepchange to administrate 50% of ours and Payplan for the other 50%. Although I don't personally think it makes a great deal of dfference, Payplan is not a charity - though they do provide their DMPs at no cost.

Very best wishes,

David @ NDL.

Puzzcat

Hi, I have a dmp with stepchange and the online facility is good, you can get statements, update balances, change creditors (if sold to a dca) and do reviews etc. I set mine up all online, only spoke to them with queries afterwards. With stepchange you pay them on the 1st or 10th of the month and they distribute to creditors on the 25th of the month.
Puzz

BlushingRose

My fianc! (and me by association) are with Step Change and have no issues with them at all.

antonic

I went with Payplan.

With their help I cleared all my debt of £24k in 90 months.

I would recommend them.

dipdap25

I am currently in the process of setting up a management plan with stepchange, all seems simple enough at the moment. They said I will have access online to see how my debts are reducing each month. I'm happy with this!