Payplan

thewillowtree

Hi all, I've lurked for many months but never posted, so please be gentle :rolleyes:

I've finally got around to seeking professional help with my very long standing debts of £24K and Payplan have recommended a 6 year DMP.

It sounds fantastic and I'm desperate to sign it over and stop having to struggle with all of the creditors. The only niggle I've got is that Martin doesn't seem to recommend Payplan like he does CCCS, CAB and National Debtline - I've only just realised this when I went and reread his article this evening. I went with Payplan because so many of you lovely people recommend them and I thought they were a charity too?

Is there a reason why this is? Am I better off going with one of the other charities?

I jsut don't want to make yet another stupid mistake and make my situation even worse

craftingqueen_2

Payplan have been fantastic with me,the ccc's could'nt help me. I can't help with martin not recommending them,because i don't know,sorry.


cq

Sea78

I think that most people who have gone with Payplan have been very happy -- they are free which is the main thing. I don't know the reasons why they aren't as recommended as the other ones - but I'm sure someone will know.

Sea xx

thewillowtree

Thanks both of you.

Does anyone else know?

opalfruits_2

Payplan aren't a registered charity, although I don't know any other reasons.

thewillowtree

Does it matter if it's not a charity?

Rafter

I thought that payplan were a 'not for profit' organisation and rather than charging huge fees to you or your creditors, rely on donations from the banks and lenders who got you into difficulty in the first place.

The main difference seems to be there isn't some owner who is making millions or trying to flog the company.

Certainly they don't spend a fortune on expensive TV advertising and seem to rely more on their reputation and referral rather than marketing.

I would recommend them too. You are far more likely to get impartial advice from then than a company that wants to push you into an IVA to earn the higher fees where a DMP or bankruptcy might be a better option for you.

R.

thewillowtree

Why doesn't Martin recommend them then? I'm so wary of doing the wrong thing

Are Payplan better than the other charities, or is one better than the rest?

rayday2

I am sure in one of his books in the debt bit he does say to take advice from them. But it was a while ago I read it. I wasn't that interested really because I do my own with the National Debthelpline website. But I think it would have stuck in my mind if I had saw he didn't mention them.

rog2

thewillowtree wrote: »

Does it matter if it's not a charity?

No - provided the advice is FREE, CONFIDENTIAL, PROFESSIONAL and above all IMPARTIAL

As far as I know, the advice given by PAYPLAN, falls into ALL of the above categories.

There ARE some companies who claim to give free and impartial advice on debt problems, yet, in reality, are only fronting a business which has been designed to make a much money as possible out of your debt problems, with no regard to who they hurt. You need to be particulrily wary of any dealings wit this type of company.

rayday2

The Money Diet page 418 Martin lists them as one of the debt councellers you should contact in crisis!