DMP with Payplan? - Im a NEWBIE - HELP!!!

Culater_2

Just thought... A few of my creditors take their payments by DD from my bank. Now, if Im going to offer token payments so I cancel the DD instruction with my bank (I can do this online)????

Miss_Marple_2

Culater wrote: »

Just thought... A few of my creditors take their payments by DD from my bank. Now, if Im going to offer token payments so I cancel the DD instruction with my bank (I can do this online)????

That's what I did (cancel them all on line - including the one to my own bank!)

The DMP set up time is when you really need to be in control of your money - you can't afford to pay anyone twice (under the DMP & via a direct debit)
I sent token payments with a letter explaining that I was starting a DMP soon and this was an interim payment until it was set up. This was accepted by everyone.

In a few weeks when everything is in place, you will heave a huge sigh of relief and look forward to opening the post & answering the phone again.

Best of luck to you

Culater_2

Payplan just called to see if I wanted to go DMP! - errr YES! Now, I assume that they will need paperwork from me - payslips etc etc?

kel123_2

Not with me they didn't. They sent me loads of information sheets and a SOA sheet which I filled in and returned. They then contacted me by phone and went through the SOA with me making amendments as required. They sent me the revised sheet which we signed and returned. We received letters from our creditors demanding this and that, on every occation I contacted Payplan and they actioned or advised me on what to do.

Culater_2

How long did it take to set up your DMP? Because Im going to send token payments this month with covering letters the DMP payment will have to wait until I get paid from work in April, not this month. Comments....?

kel123_2

To get it all sorted about 6 months, Some of our creditors fell inline within the month. But some like GE sold it on and was bounced to about 4 different DCA's before it settled down.

Culater_2

and did payplan tell you when you needed to start making payments - the only reason I ask is we received a gas and electricity bill in yesterday for £420!!! I emailed payplan and said I will pay one this month and one the next and will send my creditors £1 tokens in order to have the funds to pay these bills. But obviously I could not afford to pay payplan their £400 and these bills also so would like payplan to start after I have paid these utility bills and then my gas and electric will be part of my monthly budget (Unlike now)....

kel123_2

We pay our elec and gas monthly so no big bills Ha! he says still paying back a large bill from 2 years ago. Your main bills are your responsibility and are always paid first then your creditors. You are in control but the quicker you get started the better. Will your elec and gas provider spread these bills over 12 months? There are many people on here who can help with your spending patterns, post your revised soa and see what suggestions they come up with? It's then up to you to accept the advice or not.

ginormousflares

Hi Culater, just want you to know that I have been with Payplan for 2 years now and they have good with me. Very quick to respond to questions and have responded quickly to letters from the creditors. A couple of tips for you though sign up for their online account system called justabank and should any of your creditors/debt collecting acgencies phone you and assume a threatening manner just simply say "I have entered into a DMP with Payplan, here is my reference number, they are acting on my behalf and should stop the phonecall/letters and hopefully within 6 weeks, all of your creditors will have agreed and the most inportant thing, they will freeze your interest. Good luck and keep posting. GF

Culater_2

Thanks GF and Kel - ur advice is great. Payplan called me again last night and said that two of my debts need to "mature" to 3 months old so someone frm the Specialist Advice Team (SAT) would call me as these two debts would remain a priority until matured to 3 months old - then they would start the DMP when all the debts were togther. SO I have sent token payments of £1 to my creditors this month and await the S**T to hit the fan (Letters should have arrived today!!)... Now did you have to provide payslips to Payplan or creditors at all???