Payplan - www.payplan.com

Payplan

Payplan has been helping people in debt since 1994. They're based in Lincolnshire, not a million miles from where Maggie Thatcher grew up and Payplan is currently one of the largest commercial debt help organisations in the UK. They are best known for their free debt management plans which is the reason they are featured on our homepage, despite not being a charity. They also offer advice on IVAs and bankruptcy. They claim to help, advise, support and provide solutions to more than 100,000 people for free, each and every year.

Who would we advise you talk to before Payplan?

Read our review of the UK's best debt charities.

The Problem With Being In Debt & The Companies Trying To Help

  • There are 3.4 million UK adults in serious debt
  • The average debt is £25,115, although 9% of people have debts of over £60,000
  • 91% are paying off credit card debt
  • Women are even more affected by serious debt than men, with 75% saying they are not sleeping because of debt-stress, compared to 61% of men
  • Despite these high levels of stress, 15% of people still have not talked to anyone about their debt problems
  • Almost 48% of people in serious debt pay for their debt solution, although there are lots of free alternatives
  • A fifth of people on debt management plans will take more than 10 years to pay them off
  • Over 10 years, average charges add almost 20% to the cost and nearly 2 years to the repayment period
  • The suffering caused by debt stress and the unnecessary fees often paid can be avoided

Our Solution

To ensure that you get the right advice, we provide free access to expert charity debt advisors who provide unbiased debt advice. This helps those in serious debt to avoid advisors who charge excessive fees or feel it is reasonable to extend the period individuals are in debt beyond what is reasonable and logical.

Our Mission

  • To stop those is debt waiting month or years before talking to an trusted professional advisor
  • To stop those is debt being sold expensive debt management plans and instead helping them get access to free alternatives
  • To get anyone struggling with debt to Talk About Debt and not suffer unnecessarily

 

Find Out More About The Debt Solutions Considered

Solutions
Debts Written Off
Legally Binding
Interests & Charges
Residential Status
Fees
Notes
IVA
Yes - Average 58%
Yes
Stopped
Tenant or Homeowner (Eng/Wales)
Yes on average around 20% of the payments you make to creditors
Typically you must have debts over £15,000 and be able to offer yourcreditors about 20% of the value of the debt back over 5 years.
Debt Management
No
No
Many Freeze
Tenant or Homeowner
Yes
In a Debt Management Plan, you will be required to repay all of your debt in full.
Consolidation
No
Yes
New Rates & Charges
Tenant or Homeowner
Yes
Consolidating your debts generally means you'll pay more back over a longer period of time.
Bankruptcy
Yes
Yes
Stopped
Tenant or Homeowner (Eng/Wales)
Yes - up to £700 depending on your circumstances. You may also be subject to a 3 year Income Payments
You need to think carefully about all the affect bankruptcy will have on your home and your employment.
Debt Relief Order
Yes
Yes
Stopped
Tenant
Yes - £90
You must have debts under £15,000 and have little in the way of assets

 

Payplan Reviews

If you call Payplan after visiting this website or have dealt with Payplan and would like to share your experience with the Talkaboutdebt community, please click the button below and create a Payplan Review.

 

Add a Review
Average Rating:
3
Rated 3/5 based on 30 customer reviews.

What others have said

Please remember that these reviews are the opinions of people visiting our site and so can be very different from our own views.

I am currently in the process of getting my finances sorted out, using M
Reviewed by:
Rating:
3

Would reviewer recommend this organisation? Yes
I am currently in the process of getting my finances sorted out, using Money, Debt & Credit. Initially I was very pleased with the attitude of the advisor. He was very polite, took all my details and then got back to me in quick time with a soluton and how much it would cost. I was told an IVA could be done at £279 over 6 years. However, since then I have had several calls from the advisor, each time there is a bit more information required and the monthly cost was adjusted upwards. First to £300, then £350, then £405 and finally, for now, £509. This last quote is over 5 years though. It is getting very frustrating. I am not saying the cost is going up without reason, but I would have prefered that the company got all their information together, before qouting monthly costs. I would have given 5 stars, but I'm afraid it's only 3 from me. This count could go down!! At the moment I would still recommend them. It's a pity there isn't a "maybe" selection!
Absolutly useless company,dont do what they say they will do and even af
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? No
Absolutly useless company,dont do what they say they will do and even after cancelling my account they still try and take payments which end costing more due to bank charges. Would not recommend to my worst enemy...........
PLEASE DO NOT GO NEAR YES LOANS!!!!!!!!!!!!!!!! total scam, had to can
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? No
PLEASE DO NOT GO NEAR YES LOANS!!!!!!!!!!!!!!!! total scam, had to cancel my card!!! be warned!!!!!!
I have contacted the National Debtline many times both for myself and se
Reviewed by:
Rating:
5

Would reviewer recommend this organisation? Yes
I have contacted the National Debtline many times both for myself and several members of my family. They have been a tremendous help. Would definately recommend for family and friends.
Was offered IVA at just £200 a month for my debt level of 80k, thought i
Reviewed by:
Rating:
1

Would reviewer recommend this organisation? No
Was offered IVA at just £200 a month for my debt level of 80k, thought it sounded too good to be true and it was. Other companies told me it wouldn't get approved at that amount and at the creditor meeting the payment went up by £400 to £600 a month, I couldn't afford the increase so the IVA was turned down. Ok so maybe the breakdown of my business was my fault for my debts but I wish I would have listened to other companies and not gone fof the cheapest option. Avoid at all costs
I was originally with Payplan, but found that they were so overworked I
Reviewed by:
Rating:
5

Would reviewer recommend this organisation? Yes
I was originally with Payplan, but found that they were so overworked I was just falling into a bigger hole, and still getting letters and telephone calls and just all round struggling with my finances. I stuck with it for over a year and then transfered to Gregory Pennington, yes there are charges but it was worth it just to have some piece of mind that someone was actually dealing with my account, managing it and sorting it out properly. I had a managed bank account with them, personal finance manager and a lot of support - especially in the first few months of getting the creditors and budget straightened out. I became this week completely debt free, and it feels soooo good and I really have to thank GP for getting me there, and ensuring that I had enough money to run my household during that time.
I had never heard of Yes Loans until today, when I asked the caller for
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? No
I had never heard of Yes Loans until today, when I asked the caller for the company name. I have been put on hold waiting to speak to customer service to make a complaint for the last 30 mins and have been subjected to awful classical music and an automated voice assuring me that my call is important and they will deal with me as soon as possible. I have just been cut off after holding for the last 45 minutes. I have been plagued with calls for somebody who I have never heard of. I receive up to 6 calls per day from this company asking for somebody who doesnt have this telephone number. They assure me they will delete my number from their contact list. They dont and the calls keep coming. This is harrassment and something needs to be done about this company.
Payplan are brilliant,I have been with them for two years and before I c
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? Yes
Payplan are brilliant,I have been with them for two years and before I contacted them for help I was with a fee paying company and was not at all impressed. The fee chargeing companing kept putting the amount up each month and i could not afford it so I searched the internet and found Payplan. Its the best move I did,I can afford to live now and also pay my debts,I use justabank to see my debt goijg down and I can sleep now knowing its all under control. Sometimes it does take a long time to get throught them but you can email and I have always had a reply and my problems have always been sorted out and Payplan have been very helpful and very very polite everytime I have phoned or received an email back.
I was contacted after going on moneysupermarket re a loan. Initially the
Reviewed by:
Rating:
1

Would reviewer recommend this organisation? No
I was contacted after going on moneysupermarket re a loan. Initially the advisor was helpful and friendly he advised me to take out a debt management plan which I agreed appeared to be a good solution. He took details of my credit card for my first monthly payments and advised me to change my bank. However after speaking to a family friend (also a Financial Advisor) and my husband I realised I had made a big mistake and emailed them the following morning to cancel the plan. I was contacted that day by the original advisor who said he hadn't received my email (something which is now a common theme!) I informed him I no longer thought this option was a good one for me, he accepted this without too much difficulty and I was informed I would be refunded. It is over a week ago and I still haven't received my money back. I hadn't signed anything, I cancelled within a few hours and despite the advisor keep saying 'he is annoyed I haven't been refunded and he will investigate and call be back' I still haven't been refunded or contacted! I should have smelt a rat when they took my first monthly payment from a credit card I had very little debt on and which now carries a debt from a debt advisory company!!! Speak to your creditors yourself, speak to your bank they will work something out with you. Also I was told going into a debt management plan would not affect my credit rating - I've since learnt it does!! - stay clear of this company!!
Absolutely useless. Rude and abrupt. I felt like a naughty schoolchild i
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? No
Absolutely useless. Rude and abrupt. I felt like a naughty schoolchild in front of the head. Very misleading. Always losing paperwork and saying they have not received, including cheques which they have cashed. Very unreliable, worst mistake I have ever made going with this compnay. Steer Clear!