Payplan?...are they impartial? Advice please!

PinkLaydee

Hello I'm new (see posting earlier today).
Still to do a SOA, hoping to find time this weekend.

Just had a chat with someone at Debt Helpline (who do consolidation loans, Debt Management Plans and IVAs) sse: http://www.debthelpline.com Since making contact with them yesterday I discovered Payplan (Thanks Martin Lewis!), who make no charge for their service.

Anyway I just spoke to the bloke at Debt Helpline and politely said I didn't want to waste his time and that IF I decide to go for a DMP, I would use Playplan instead cos it's free.

But he told me a whole load of scary stuff about their helpine being useless and based overseas and that the affliation (funding) via banks means that they are NOT impartial. Apparently loads of people end up going to them because Payplan doesn't work out for them.... Is this a load of b****cks??? Or is there a grain of truth in it?

One sad thing I'm now learning is how people can really take advantage of you in a debt situation... so I'm now starting to doubt ALL organisations. Is there a merit in dealing with my creditors direct. I know it takes a bit of nerve to do it... but do I have more 'control' that way.... Or are Payplan really OK???

fermi

There are many many people on this forum who use PayPlan.

No organisation is perfect, but PayPlan are immensely better than the fee charging companies that you have been talking to.

We hear time after time after time the sort of nonsense that the bloke at this so called "helpline" has come out with.

Your surmise that it is a load of b****cks is correct, and the these companies are only interested in helping themselves to a slice of your money rather than helping you.

Listen to Martin since you are on his site.

The wrong people to go to

Avoid any of the beasts that advertise debt help or management on the TV or in red top newspapers. They are commercial companies who simply want to make cash out of you, they don't care. While in the short term their plans will make your payments lower, in the long run it'll cost you dear. Avoid them. Don't touch them. Don’t go near them.

I think this post from the Chat Forum explains it better than I ever can:

"We, my wife and I, are on a seven-year plan with CCCS" (that's the Consumer Credit Counselling Service, one of my recommended agencies – Martin) "having recently changed from a commercial debt management company after hearing Martin on Radio 2's Jeremy Vine show. The simple action of swapping to the CCCS has shaved over two years off the length of our plan as the money we were paying the management company now goes to our creditors instead! Of course, that also means a financial saving of nearly eight grand over the term of the original plans 10 year period."

This includes IVA companies who advertise about “a little known government loophole”. While it sounds good, it’s only for a few people. If it is for you the debt counselling agencies should suggest it.

If you are unsure of PayPlan after all that, then why not go to CCCS?

Donedoingdebt

I've never used Payplan personally, but if Martin Lewis recommends it then it can't be that bad!
You obviously can't please all of the people all of the time, but it appears from this forum that they're well respected in general.
Definitely do not listen to a fee paying DMC when they try & tell you that others are no good. They're clearly after your business & therefore your money that would be better spent going directly towards your debt.
I personally, have dealt with my creditors directly since 2001 after going with Baines & Ernst for the first year in 2000. There's been no real problem as long as you are not pursuaded/bullied into paying more than you can afford each month.

yellowmonkey

I use Payplan. Very good no complaints at all.:T:T:T

ym

shinyhead

I've been with CCCS for over 2 years now. Only comment is sometimes it's difficult phoning them during the hours their lines are open. E-mails are ok though, for non-urgent stuff.

The guy was right about one thing though, they are at least part funded by the banks.

skibadee

I've been with Payplan for 4mths....yes they are funded by some banks, and I have also found that after the initial setting up period my case officer/officers do appear to possibly be at an international call centre, I'm not too sure I made the right choice.....but all but 2 of my creditors have accepted...ironiclly the 2 who haven't actually fund Payplan????.....I'm going to stick with them for now but am also going to look at CCCS.

10past6

Hello pinklaydee

Welcome to the forums.

I’m pleased you’re doing some research prior to making your decision.

I’m also with Payplan, and can highly recommend them; however, please bear in mind, there are numerous debt management charities all willing to offer assistance.

If you are having doubts about who to choose, ask yourself this, what’s the difference between the fee paying DMP’ and the charities, once you find out you’re better of with one of the charities, then break it down as to which one you prefer, I believe it all comes down to personal choice.

This is a great place for learning how to cope with one’s debts, no matter how silly or difficult the question, someone will always know the answer.

Happy posting.

ald65

Payplan have been great with us
good luck with whatever you decide

nocashleft

Hi pinkladee, just to let you know that Payplan are absolutely brilliant. I have been in debt management for the last three years and it has run extremely smoothly.

There are no hidden catches with them and no charges whatsoever ( they get their payment from the other end ie card companies). It has always been easy to deal with them, you have your own case manager who you deal with at all stages and there is no risk to your home from them.

I looked at loads of other firms and they all want a commision out of your available funds and with Payplan all of what you have available gets to pay your bills and they have (right from the start) arranged 0% interest on all debts. Also after a period of time the banks/card companies offer big reductions in the total amount owed to make a full and final settlement..

In short they are the best!!