Clients are advised to go to Payplan when they miss a mortgage payment by the very banks who are owed money. Is this independence? Always use a professional firm and not a charity or 'bank funded' advice service.
I totally agree with the above post on this. I spoke to lost of different companies and settled for baker Tilly who became debt life boat. Choosing who you deal with is a major factor, I for one would have hated to deal with DFD and other poor companies on here!
Got married two months after i completed! Building my life back up again but still staying on here to support all those who helped me in my times of need!
An IVA is meant to be an affordable solution to pay back a proportion of your unsecured debts. At Payplan we go through your budget (some have called this an I&E – income and expenditure) in consultation with you several times to ensure it is correct and manageable and that it covers all of your income and expenditure.
Whilst I cannot specifically state what your budget will be, it is prudent to note that clothing and household items (such as towels) will be included in your budget and there is scope to allow contingencies to cover birthdays etc.
I would implore you to speak to your contact at Payplan and clarify your trepidations and discuss with them fully what the IVA budget will include.
Many Thanks
Samuel
Payplan Representative
Payplan offer a range of solutions including IVAs and free DMPs. To find out more and to contact us please visit www.payplan.com
I suggest that a good starting point is to tell your Payplan contact what you actually do spend on a monthly basis, over each category, and then let these figures dictate your budget. It is possible that some of the areas of expenditure may exceed current creditor maximum guidelines, and your contact may well advise you of this, however the ultimate decision must lie with yourself and your creditors, and not the IP.
Very good words of advice..........I have seeked more advice from other companies and its a surprise how different they work.........I'm now coming to terms with the fact that I'm not the 1st to do this and I'm not alone..........
Michael are you saying payplan are not"proffesional" as that is far from the truth.yes people are reffered to them from some creditors but that does not mean they cant do the job.when you take out an iva with them you pay for the service same as you would with any other firm.they are only free for dmp.i was never reffered to them as result of missing a mortgage payment and found them off my own back from reading this forum.would you knock it if somebody pointed clients at your firm no matter where they was directed from?
some so called professional firms from reading the forum are miles worse than the bank "paid for" service.
cc received 6th January 2014 now upwards and onwards
just looking at the last couple of days worth of post just goes to show it does not matter how much you look at which company you use,you cant be sure they will be the right one.out of all the companys who post on here mels is the only one who really does care how things are run during the "term"
cc received 6th January 2014 now upwards and onwards
Back on track.
I just saw your previous comment when you posted again. I did not say that Payplan were not professional but I did recommend people should always use a professional firm over a bank funded charity. I also advocate using independent firms but by all means use the bank funded ones as well and make up your own mind.
While I also agree that Melanie cares for her clients I would dispute that she is the only one. We would like to think that we provide a proper service for our clients from the beginning to completion and our reviews on www.iva.com are pretty impressive.
take your point Michael and was not inferring you was not capable of being a good firm(testerment to your lack of "complaints"on the forum)but it came across that the paid by banks companys where to be avoided at all costs,and they were not capable of running an iva without being underhanded or controlled by the creditors.as you can gather I have had a great relationship with payplan and I am one of the lucky ones to have sailed through nearly 5years without a major catastropie.so called independent big firms(and we know who they are don't we)are not really doing things any better even tho they are independent simply becourse they have taken too much on and not got the manpower to incorporate extra work when buying in portfolios of other companys.as you say you and mel are not corporations so that's perhaps a reason why they run more personal in terms of client care.
I can only speak as I find reguarding payplan and would not have any hesitation in putting there name forward to anybody asking,but I would tell them to ring 2-3 companys before they get on the iva train.
cc received 6th January 2014 now upwards and onwards
The "not for profit" sector have thousands of happy clients, and I think make a very valuable contribution to our economy and profession.
I think what frustrates we commercial companies, is the bias constantly bleated from the banking industry, and the not-for-profit sector itself, about the perils of using firms like mine and Michael's - coupled with the fact that these firms are not subject to the same regulatory controls that we are. We should be all working together, rather than tearing each other apart, and I am very pleased to see that this is beginning to happen in many areas. I personally am working more closely with this sector as a professional, and my understanding of what and how they do has been enlightening.
Always wise to remember - fees in the not-for-profit sector are exactly the same as ours when it comes to IVAs, a fact that is often less than obvious from their marketing material.
