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Payplan UK Said My DMP Would Be Over in 6 Years. It’s Not. – Gail

“Dear Jon,

been paying off all our debts with a DMP with payplan, for the last 6 years! From January this year it said may 2012 would be are last payment, we got to may and the said june would be are last payment, I received an email yesterday saying are last payment will now be august! I have just looked on my PAYPAL account and 2 days ago it said we owed £328 but yesterday it says we now owe £956!!!

Please can you tell me what I should do about this as most of my debts have been sold on to different companies now, I have paid All of the debts off which go back over 6 years, so I am guessing this is now interest they are asking for, only 3 of the companies have asked for more money the others seem to be happy that its paid off. We have never missed a payment and tbh the 3 companies that are asking for more money all seem to be of the same kind i.e looking on the Internet and seeing what other people have wrote about them they don’t seem to ever want to reach a settlement they just want to keep taking money! How do I go about reaching a settlement with these people! I am totally devastated this has happen after 6 years and paying it all off!

Many thanks for your time

Kind regards

Gail”

Gail,

Have you discussed this with the debt management company you have been working with? They should be able to give you an explanation as to why the balances have changed on the accounts.

Even with the accounts being sold to other collection agencies, the debt management company should have updated their records and forwarded payments to the appropriate company.

It may be that there has been some additional interest or charges applied to an account or two, as a debt management plan is an informal arrangement, the creditors are not obligated to stop interest and charges. In addition, once an account has been sold or transferred the new collection company may have added a charge not knowing you were in a DMP.

I know it can seem like you are getting nowhere, but how much debt did you start out with? How much are your payments each month? I’m sure you can see how far you have come in the six years.

As for settling the debts, you may be able to do this if you have the cash/money on had to do so. If you owe a particular creditor say £200, you can try and offer £100 as a start to see if they will accept the lower amount and write off the remaining balance. But in order to do this you usually need to have the cash there to pay the agreed amount in one lump sum.

Speak to Payplan and let me know what they say. You can post your response in the comments below.

Regards,

Jon

Jon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.

If you have a question you’d like to ask about how to get out of UK debt, just use the online form. I’m happy to help you for free.

About the author

Jon Emge

Jon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.

If you have a question you’d like to ask about how to get out of UK debt, just use the online form.

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