When it rains it pours - Attention Payplan.

[kallis3]

Not taking sides at all but any posts on here from experts are voluntary.

[Rosepetal]

fully take your point kall,the experts who post do a sterling job, but that doesn't excuse Payplan (at managment level) for not sorting this.

the worry/stress must be dreadful.

[kallis3]

I'm not excusing them at all as they are my IP but we must remember that that none of our experts have to post on here at all - hopefully any critisism won't stop them from posting.

[winter_blues]

Totally agree Jan.

[Broke of London]

Can the title be changed to alert Payplan? On the plus side, it does sound as if they don't jump straight to BR if the variation is rejected. But it begs the question about why they feel the need to include it.

[Rosepetal]

yes i agree kall, having experts posting is brilliant,they give up so much free time.

i also see that those posting may not be responsible for every issue personally.

brokebryn doesn't seem any wiser at the moment[:(].

[kallis3]

I've changed the title - hopefully they will pick up on this but of course we can't guarantee that they will.

[Foggy]

I am no fan of Payplan ( as I have said before) but, to be fair, they are a pretty big organisation with policies passed down from on high. I work for a similar organisation and don't agree with half of the policies, but am still bound by them and have to enforce them if needed.

The Payplan representatives who post on here do so in an effort to help thier companies clients --- there is every chance that they, themselves, are getting nowhere with their company hierarchy.

[Broke of London]

Too true Foggy!! It's great to have experts giving up their time to help us - and there must be restrictions on when and what many of them can post, particularly those who work for big organisations.

[MelanieGiles]

For the life of me I still don't see why bankruptcy is being offered on a plate. This is not necessary and unlikely to be the choice of the creditors. If creditors feel that bankruptcy is a better option they an modify so at the meeting.

[brokebryn]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Broke of London

Can the title be changed to alert Payplan? On the plus side, it does sound as if they don't jump straight to BR if the variation is rejected. But it begs the question about why they feel the need to include it.

I can't see it as being on the plus side if, after 5 long years on an IVA with everything and all suffering in one way or another along the way, the final outcome is being dumped into a DMP for the rest of my days or having the IVA extended beyond 12 months. Some things are just not tolerable. And yes, the stress of all this has taken its toll and continues to do so. I have lived with this for over a month now. I feel deeply let down and decieved. If the eventual outcome is unacceptable from my point of view then I shall have to review my options, if I really have any that are worth taking. If I don't, then we'll just have to see what happens.

[brokebryn]

Foggy,

You wrote: The Payplan representatives who post on here do so in an effort to help thier companies clients --- there is every chance that they, themselves, are getting nowhere with their company hierarchy.

I'm sure that is right. However, what is revealing in this case is that NO representative from Payplan has posted ANYTHING on here to offer clarification.

[Michael Peoples]

Like Melanie I cannot understand why Payplan would offer bankruptcy when the client has fully complied with their IVA obligations. How many people would enter IVAs if they knew their home was at risk after 5 years even if you do everything required!!!!

This seems crazy to me and I would love to hear Payplan's justification. I would also want to know if this is their own doing or is it a requirement of the banks who fund them?

[Foggy]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by brokebryn

Foggy,

You wrote: The Payplan representatives who post on here do so in an effort to help thier companies clients --- there is every chance that they, themselves, are getting nowhere with their company hierarchy.

I'm sure that is right. However, what is revealing in this case is that NO representative from Payplan has posted ANYTHING on here to offer clarification.

I know where you are coming from Bryn, and agree. WQhat I was alluding to was that it might not be the reps who post here who are at fault but Payplan ( the company) themselves. As I have said before Payplan are hardening up of late, much to the detriment of the client, on many fronts and causing quite a bit of distress in the meantime.

[brokebryn]

Michael writes:

How many people would enter IVAs if they knew their home was at risk after 5 years even if you do everything required!!!!

That is exactly my point about the strategy of concealment. This is sprung on people at the last minute - to be faced with this prospect after nearly completing the IVA is utterly shattering. So what should be a time for looking forward and making plans now becomes one with darker clouds than ever before. I'm glad I am a strong character because it could have thrown others very badly. Re Michael's point - that's precisely what I mean by saying that my IVA was mis-sold to me right at the start because this crucial piece of information was not disclosed and therefore, due to this concealment, I was unable to make a properly informed decision. Who indeed in their right mind would have opted for an IVA under these conditions only to find themselves confronted with the situation which faces me at the moment. And others will be faced with it also. With bankruptcy, which, as Mels says, is now being offered to the creditors 'on a plate', it would have all been over years ago and I would be well ahead of it all now. Instead, the torment and anguish simply continues. The argument put to me over the telephone by Payplan's representative that this stipulation has been deemed necessary [to protect the interests of creditors] due to the downturn in the housing market which means that equity is unlikely to be realised is utterly facile and would be laughed out of court. Policy is clearly made on the hoof. Payplan should at the very least insert a clause, writ large, in the documentation they provide to anyone seeking to take out an IVA with them to the effect that in effect none of the proposals that you agree to in setting up your IVA with them are actually binding in any sense, shape or form due to possible fluctautions in the world economic climate which might dictate revisions and amendments, concealed from you at the point of signature, as and when such become necessary. Laughable.