CreditFix vs PayPlan

evherkes

Hi all,
I am about to agree to progressing with an IVA and I am torn between CreditFix or PayPlan. Both have very good trustpilot reviews and have been very helpful so far. I am asking for for constructive feedback about pro's and con's from personal experience with CreditFix/PayPlan (including the annual review process) to consider which is best for me overall. 
StepChange is not an option for me and IVA is my option so please respect that.
Thank you in advance!

antonic

evherkes said:

Hi all,
I am about to agree to progressing with an IVA and I am torn between CreditFix or PayPlan. Both have very good trustpilot reviews and have been very helpful so far. I am asking for for constructive feedback about pro's and con's from personal experience with CreditFix/PayPlan (including the annual review process) to consider which is best for me overall. 
StepChange is not an option for me and IVA is my option so please respect that.
Thank you in advance!

I used Payplan to run my Debt Managent Plan.
Never had any issues with them and recommend them.

KazzaR

Hi I used PayPlan for my DRO and ohhhhh my god they are fantastic!!!!! They literally put my mind at rest helped me with all my worries queries and even anxiety!!!!!  Amazing people I was dealing with.... I can’t recommend them enough!!!!! 

Good luck

fatbelly

Look, you can get problems with anyone. The difference between the two are that Creditfix are purely an insolvency practitioner and process more IVAs than anyone else. They have been known to take referrals from many 'lead generators'.

Payplan are not technically a charity but behave very similarly to stepchange, who are. They run the whole spectrum of debt strategies and are a relatively small organisation with no aspiration to take over the world.

I trust what I've just written is not libellous as I've had to go back and edit this quite carefully.

The last government report (there's a new one coming) is here

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/862635/Commentary_-_Individual_Voluntary_Arrangement_Outcomes_and_Providers_2019.pdf

evherkes

Hi all. Thanks for the replies. That was the feeling I got that PayPlan was viewed to be more "ethical" if that's the right word to use! I just don't want to be in a situation where they haven't done a thorough review or I end up owing even more at the end. Both companies have been fab, so helpful, to date and now I need to just go with one to see it through and didn't want to end up choosing the wrong one!

sourcrates

Your biggest choice concerns how much you owe, and if you have assets.

IVA usually only advised if you have large debts and assets to protect.

Big choice, not one to be made in vain.

fatbelly

There's another thread. Bankruptcy might be the better option

https://forums.moneysavingexpert.com/discussion/6230881/br-iva-i-dont-even-know-anymore

Nodding_Donkey

To be honest I would avoid Creditfix like the plague. Do a search on complaints about them and I wouldn't rate Trustpilot either.

becbecm

Agreed, did not like the attitude with Creditfix got as far as proposal with them and shut the whole case down and went to Stepchange they have more of the human touch. 

MrFrugalFever

Currently over 3 years in with Creditfix, can’t really complain it’s been fairly straightforward. Annual review is requested via email, last 12 months bank statements accessed via castlight app and open banking permission. Sent and reviewed quickly, 
I&E report initially draftee was very much led by the customer service advisor rather than myself, which looking back seemed odd but as I knew very little about IVA I just went along with it.

best thing I ever (reluctantly) decided to do. Under 2 years left and I can already feel a weight lifting off my shoulders.

Faloula92

Hi. Personally I would avoid PayPlan.
I was in a DMP with them and ended up moving to stepchange i had more stress that before with payplan. You get the odd few who I very helpful and nice but others that are so patronising.

Good luck with whatever you choose.