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 was really happy with their service. I was really nervous and they mad
Reviewed by:
Rating:
5

Would reviewer recommend this organisation? Yes
I was really happy with their service. I was really nervous and they made talking about being in debt ok. I ended up with an IVA and it's working out well for me and the family.
I struggled to get through to them at first and when I did I thought the
Reviewed by:
Rating:
3

Would reviewer recommend this organisation? Yes
I struggled to get through to them at first and when I did I thought they were pretty good. They suggested debt management to me. An IVA has been suggested by another company. I now need to decide who's right.
I had to wait a long time for my interview and in the end was offered a
Reviewed by:
Rating:
4

Would reviewer recommend this organisation? Yes
I had to wait a long time for my interview and in the end was offered a debt management plan. It took and about 7 weeks from initial contact to when I was up and running.
I had never heard of them before and I actually think they were good. Th
Reviewed by:
Rating:
3

Would reviewer recommend this organisation? Yes
I had never heard of them before and I actually think they were good. The lady on the phone was nice and the advice makes sense. I have been sent paper work and I now need to sign and send it back. Would I recommend them. I can't say yet as its too early.
I thought they was good.
Reviewed by:
Rating:
4

Would reviewer recommend this organisation? Yes
I thought they was good.
Dept Free Direct have helped me organise an iva and i think they are goo
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? Yes
Dept Free Direct have helped me organise an iva and i think they are good.
I have tried calling Pay Plan and get automated options that don't make
Reviewed by:
Rating:
1

Would reviewer recommend this organisation? No
I have tried calling Pay Plan and get automated options that don't make sense as I am not a customer and have now given up :(
money debt and credit are a very good company. They were very polite and
Reviewed by:
Rating:
4

Would reviewer recommend this organisation? Yes
money debt and credit are a very good company. They were very polite and very patient when they rang me. They managed to get me a debt management plan at a very affordable monthly rate. I would suggest this company for those who need advice on debt or for those who need a debt management plan.
I have been with payplan for 18months they went through my income and ex
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? Yes
I have been with payplan for 18months they went through my income and expenditure fully and came up with a realistic and affordable monthly payment with me. They dealt with all my creditors and the harassing phone call and threatening letters soon stopped. You are provided with an online facility that lets you see who you owe money to and how much each balance is. I contacted a lot of debt management companies who all tried to get me to do an IVA because they collect a lot of commission for selling them. Or they would keep a large portion of what I paid each month. With Pay Plan every penny comes of my debt and what I like most is you can actually see the end balance going down when you log on to your account.
Churchwoods helped me when i was in a difficult situation. They helped m
Reviewed by:
Rating:
0

Would reviewer recommend this organisation? Yes
Churchwoods helped me when i was in a difficult situation. They helped me reduce my debt payments to a more manageable figure and tackled the interest and charges.