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.

started in 2005 and have come through the 5 years. best thing i ever did
Reviewed by:
Rating:
5

Would reviewer recommend this organisation? Yes
started in 2005 and have come through the 5 years. best thing i ever did- they were helpful and friendly - what more could i ask for?
After struggling for almost 2 years to keep on top of our finances we fi
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? Yes
After struggling for almost 2 years to keep on top of our finances we finally admitted we needed help. I found one online, a well known one and after filling out their online form and hitting enter, a few seconds i get a form back pointing out where i could save money but not a word on how i could do it. Gave up and the next search i found PayPlan. In a matter of hours i was talking to someone who was friendly, caring and knew what she was talking about and most of all non-judgemental...... up until this point we were both feeling like HUGE failures. Within a couple of days they had a devised a plan, explained how it was going to work, explained what we could expect in terms of default letters etc etc from our creditors ( which they were spot on with by the way). We were given our own and named, advisor, who has mostly answered the phone, if not we have left our names etc and within a couple of hours(ish) they have gotten back to us. Their email process is excellent and their website gives lots of additional information......What do we think of them?.........we think what fools we were in not doing this earlier when we could have saved ourselves all the stress and worries we put ourselves through over the last 2 years.
I've been with payplan for a few years, and have to say i have no compla
Reviewed by:
Rating:
4

Would reviewer recommend this organisation? Yes
I've been with payplan for a few years, and have to say i have no complaints. I was actually with a paid manangement plan, and it was actually one of my creditors that told me creditors don't look too kindly to people who are paying for a debt management plan, as they assume if you can afford to pay for a DMP, you can afford to pay more than you're paying. Therefore, i researched payplan, joined them, and didnt look back. I'll admit It's not always easy to get hold of them, but i find if you avoid certain time periods this problem is alieviated. They don't promise to stop creditors hassling you, or interest rates, but i find that companies hassle me a lot less. In fact, i never hear from some of my creditors at all. They work with you to carefully find a repayment you can afford. Everyone i've spoken to on the phone has been lovely - Someone once told me Payplan have hired people who have had money difficulties in the past, and i cant say i found this surprising. They've been so understanding and non judgemental when i've spoken to them, as if they understand exactly what i mean. Even when i had to reduce my level of repayment, they were very understanding, and it's nice they assign a personal case officer to you. There's always someone to communicate with directly, and find this a great help. All in happy with them. I get the same level of service from paid companies i've been with in the past.
After struggling with ever-increasing debt in tthe last 4 years since be
Reviewed by:
Rating:
5

Would reviewer recommend this organisation? Yes
After struggling with ever-increasing debt in tthe last 4 years since becoming a single mum, I finally plucked up the courage to seek help. I searched online and decided Payplan seemed the best company.That was about three weeks ago, I have signed the proposal papers and am just waiting for the creditors' meeting, then hopefully I will start my IVA. I cannot praise the advisors at Payplan enough. Every time I contact them, they have put my mind at ease, not been at all judgemental about my running up hugh debts (which was what put me off seeking help much sooner!). Whoever answers the phone is always friendly, reassuring, and I always put the phone down feeling a hugh sense of relief. They send paperwork to me very quickly, their letters are friendly by manner and easy to understand. Although my IVA has not begun yet, I already feel as though all the pressure has been taken off me, finally allowing me to sleep at night! I can only compare the feeling I now have to being plucked from deep water before drowning. I thoroughly recommend Payplan to anybody worrying about debt-they will explain your options and advise you on the best remedy for you as an individual. Contacting them is the best decision I have made in years, and I just wish I could give them more than 5 stars!! If you're struggling, and trying to decide who to ask for help, contact them first-I just wish I'd done it sooner!
I JOINED PAYPLAN FEB 2011 BRILL COMPANY TO WORK WITH THEY ARE HONEST WIT
Reviewed by:
Rating:
5

Would reviewer recommend this organisation? Yes
I JOINED PAYPLAN FEB 2011 BRILL COMPANY TO WORK WITH THEY ARE HONEST WITH U AND DO THERE BEST TO GET INTEREST STOPPED THEY ARE UP FRONT AND TELL YOU THAT ALL CREDITORS MAY NOT AGREE WITH IT .THER ONLINE FACILITY IS GREAT TO HELP YOU KEEP TRACK OF HOW YOUR PLAN IS GOING .THE STAFF ARE NON JUDGEMENTAL AND MAKE THE PROCESS STRESS FREE.
Just started up with payplan and so far so good. Been dealing with credi
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? Yes
Just started up with payplan and so far so good. Been dealing with creditors for 3 months thru them and I no longer dread the postman! Really helpful service.
We have been with Payplan for nearly a year now on a DMP and are now con
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? Yes
We have been with Payplan for nearly a year now on a DMP and are now considering an IVA with them as things have now stabilised. I would not hesitate for one moment in recommending Payplan. They are very helpful, non-judgemental and have taken a massive burden from our shoulders and given us hope for a debt free future. I cannot recommend them enough. We have never had a problem contacting them and they have always explained everyeverything clearly and answered any questions we have had. Thank goodness for Payplan!
It would be no exageration to say that Payplan have saved and re-started
Reviewed by:
Rating:
5

Would reviewer recommend this organisation? Yes
It would be no exageration to say that Payplan have saved and re-started my life. I contacted a number of the 'advertised' agencies but was astonished to find how much they take each month. I had racked up a 40+k debt and whilst ashamed of it i was determined to pay every penney back. If i went with one of these companies it would take forever. It was actually one of my CREDITORS who advised me to go to payplan because they were respected and trusted by the credit companies and best thing they were free so every penney i pay went to who should have it. At the end of the day if the creditors recommend payplan then that will do for me as i clearly want to keep them happy!!! As soon as i contacted them all to explain payplan were acting for me ALL the horrible calls stopped and my creditors were happy. Payplen have never judged, have always been honest and upfront and extremely supportive. They have liaised with my creditors for me and agreed all my realistic payment amounts... With their help i have paid back almost £42000 in 5 years and i have only 2 months to go before being debt free and can start my life again. It not been easy, far from it, but thanks to payplan's help i am nearly there. One thing to remember though..... no matter how much payplan help and support you the debt is still YOURS. I have read some comments as though its payplans fault that the debt totals are diferent. Payplan estimate the debt from the original totals and this is clear on their website and they have always explained this to me too..... from their advice i keep in contact with my creditors to show appreciation for what they are doing and by doing so i get up to date totals which i inform payplan and they alter my figures where necessary. However, thanks to payplan almost all of my creditors have frozen ALL interest and charges meaning there is very little difference. In short payplan have been instrumental in helping me to pay of MY debt and restart my life. I simply can not thank them enough.
ive been with payplan about 2 months now. they are not perfect bu
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? Yes
ive been with payplan about 2 months now. they are not perfect but theyhave given me a good nights sleep and the phone calls have stopped. i got into debt through credit cards and a large overdraft they didnt judge me, but i was honest with them and myself. ive not got much moneyleft at the end of the month but the billshave been paid. i would recomend them as there is no management fee. but do it sooner rather than later. iwasted so much money paying minimum payments and bank charges. it will take me years to pay off but iwill do it ,
I have been with payplan for 2 years now. They are very helpful indeed
Reviewed by:
Rating:
5

Would reviewer recommend this organisation? Yes
I have been with payplan for 2 years now. They are very helpful indeed and dont judge you on your debt level. All the creditors have stopped writing and calling now and interest has been frozen on all my accounts that payplan are dealing with, thank you payplan for all the help you have given. Im estimated to be debt free 2014 and looking forward to it