Advice Re Payplan and DMP

angeldust_x

Hi
I originally had debts in 2003 of roughly £19k...I have been paying a DMP to Payplan over that amount of time and on checking my balances left I am down to £3.3k left. I am quite shocked at how after 13 years of paying I am still owing such a large amount one of the debts is actually greater than it was when I started.
I am just wondering if it would be better to contact my creditors directly and offer them a repayment plan of my own? Only one debt is over £1k the rest are really low.
Most of them are through debt collection agencies except for Lloyds bank who are the one I owe 1k to....
I just get the feeling I am not really getting much help from Payplan and I seem to just be not getting anywhere with repayment or getting debts frozen etc.
Do you think that if I approached creditors myself after having paid for 13 years they would be willing to negotiate a repayment that will actually get this last bit paid off?
I have spent the last few years going without by paying through Payplan....Ive not had a holiday for 10 years and its really starting to drag me down....
Any advice or suggestions would be greatly received!!!!
Thanks in advance

glentoran99

You should never have been on a DMP that was to last so long, Would certainly be worth


Sending a CCA request to your creditors, and you may not have to pay any of them

angeldust_x

Thank you.
I am interested to see exactly how much interest I have been charged if nothing else.
If they cannot provide a copy of the original document but I have been paying for this long am I still liable to pay the what they say remains on the debt?

sourcrates

angeldust_x wrote: »

Thank you.
I am interested to see exactly how much interest I have been charged if nothing else.
If they cannot provide a copy of the original document but I have been paying for this long am I still liable to pay the what they say remains on the debt?

Not if they can't produce the correct paperwork no.

Dependant on what they send you, if anything, you could choose to walk away

Without proof of a debt in the form of a credit agreement, they can't obtain a CCJ against you in court.

angeldust_x

Thank you that is really useful to know.

If they can produce it and I can prove I have paid over the odds for the debt do you think I would be able to negotiate with them to repay a set amount to clear it?

fatbelly

angeldust_x wrote: »

Thank you that is really useful to know.

If they can produce it and I can prove I have paid over the odds for the debt do you think I would be able to negotiate with them to repay a set amount to clear it?

Yes, in your situation negotiating full & final settlement deals may be a good option, preceding this with a cca request.

Factsheets:

https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx

https://www.nationaldebtline.org/EW/factsheets/Pages/getting-information/credit-agreement-advice.aspx

cca requests don't work on overdrafts

angeldust_x

All loans and credit cards...

Thank you that is really helpful!!!

National_Debtline

angeldust_x wrote: »

I am interested to see exactly how much interest I have been charged if nothing else.

The credit agreement sample letter fatbelly linked to also requests a statement of the account, so you should be able to check the interest added.

James
@natdebtline