PayPlan just dumped me!

leninspot

I just got an email from PP saying they could no longer manage my debt but without saying why. They did advise me about 2 months ago to go BR but I haven't had the fees. I did though up my monthly payments (although not by much) and told PP I would get the money together in the next few months to go BR -which my case manager seemed quite happy with - then today this bombshell. I'm gutted. Any advice gratefully received as I don't know which way to turn. I feel sick.

National_Debtline

Hi

It’s strange that they didn’t at least give you an explanation. Roughly how much do you owe and how much were you paying into the DMP each month?

If you want to go bankrupt but not quite yet you could self negotiate payment offers, or send a ‘hold action’ letter, using templates on our website.

www.nationaldebtline.org/EW/sampleletters/Pages/default.aspx

James
@natdebtline

leninspot

I owe just over £30k but was as only paying £13 pcm (peanuts I know) but I was paying it - never missed in about 4 years. I'd rather have gone on doing it if (now when) I go BR my debtors (credit cards only) will get nothing so what's the point from their perspective? I just don't get it. (The reason I pay so little is that I'm retired and on a small/fixed income).

National_Debtline

I suspect from Payplan's perspective the DMP doesn't seem like a viable option for you as it would take so long to repay your debts at the current rate. I think they could have done more to explain this you though.

Ultimately it's up to you how you deal with your debts. You don't have to go bankrupt, but if there won't be any particularly negative consequences in your situation it could be a positive move for you.

As I say though, if you would prefer not to go bankrupt you can make your payment offers to your creditors yourself.

James
@natdebtline

slightlyconfused.com

Ive just posted as I've just been dumped by email as well!!!!!!
Im sat here sobbing as i don't know where to start to unpick this.
Mines been going on for 11 years and i don't even know who i owe what to anymore as its been rumbling on so long and they've sold the debt on various times.
Ive moved in that time so i don't know if they have the right address, I'm petrified i will end up with a CCJ as i don't know who i owe anymore.


Lenin im so sorry this is you as well. I don't get how one day its acceptable and the next its not. They aren't even offering any advice how to resolve this just 'bye, you've got 30 days to sort yourself out"

edinburgher

It would seem that a DMP isn't at all viable for OP - you would need to live to be 250 or so at the current rate!

leninspot

Not a helpful or constructive comment.

leninspot

I'm sorry you are so upset - try not to be if you possibly can. If you ask them I'm sure they will give you all the details of your debts and who you owe to. There is no reason why they shouldn't. Also, give the Citizens Advice B a call or look on their website You can chat to someone online there. I'm sure someone on here will give you good advice - better than I can. But, what I've learned is that no amount of money owed is worth making yourself ill over. So, don't let the b...........get you down. It WILL all come out right in the end. Just keep putting one foot in front of the other.
Best of luck to you.

edinburgher

leninspot wrote: »

Not a helpful or constructive comment.

I'm sorry if you thought that I was being flippant, it wasn't intended, I was pointing out (with slightly hyperbolic numbers) that Payplan are unlikely to be able to help you discharge your responsibilities through a debt management plan if you have been making payments at a similar level for 4 years.

There will be a limit to the number of people that they can help and it is quite possible that they are having a cull of people that they can no longer support so as to try and help as many people as possible who can pay off their debts within a realistic timeframe. It probably feels like a kick in the teeth, but it my suspicion is correct, it makes sense from their perspective (there will be a cost to support each customer).

I was a Payplan customer for 7.x years, but increased payments annually by a meaningful amount until I was able to settle my debts (so not just a random person with no experience flying by to troll you).

You need to explore your other options.

slightlyconfused.com

We crossed posted (I'm guessing our emails came through at the same time!) so i have a thread as well, its had some replies i don't know if any are helpful to you, it won't let me link but its in debt-free wannabe

19lottie82

leninspot wrote: »

Not a helpful or constructive comment.

Maybe not helpful, but seems constructive to me?