When it rains it pours - Attention Payplan.

[Foggy]

Bryn, I am not sure the IVA was mis-sold, on these ggrounds, right at the start, as this wasn't Payplan's intention at the start. As I said above, it is only recently that they have started taking this hard line attitude, possibly, and this is only my opinion here, due to pressure from creditors. After all, much of Payplan's funding comes from those creditors. I fear that the tail is wagging the dog!

[Michael Peoples]

There are certainly grounds for complaint if this was not fully explained at the beginning. I doubt very much if many of their clients would have been told they could lose their homes after the IVA payments were made in total and I think that is Brokebryn's main issue.

I hope Foggy that creditors are not making Payplan do this as they are a huge operation and being fed numerous leads each month by the banks. It is further clear evidence that people in debt should seek advice from the professional independent sector.

[brokebryn]

@Foggy

So in that case why did they not tell people at the moment that this policy was decided upon in order that they might then review their options? And can a representative from Payplan come on here now and assure us that all new clients are specifically informed about this choice little surprise that might otherwise confront them when their IVA's, as far as they know, are drawing to a close?

[Foggy]

That is a very good question, Bryn. They have sprung many a surprise recently, by changing policy mid-stream and dropping it on the client from a great height.

To be honest, my own thoughts on the "why's and wherefores" cannot be published in an open forum. Suffice to say, they are one company I will not be recommending as an IVA provider.

[Foggy]

"I hope Foggy that creditors are not making Payplan do this as they are a huge operation and being fed numerous leads each month by the banks. It is further clear evidence that people in debt should seek advice from the professional independent sector."

I agree with you there, Michael, but still have grave concerns with the way Payplan have been moving goalposts recently.

[brokebryn]

We just have to wait for an outcome in my case as in others. But if the outcome is bad then IVAs will have been FUNDAMENTALLY BLACKENED AS VIABLE DEBT SOLUTIONS.

[Rosepetal]

my heart goes out to you, the stress/distress must be dreadful.

i echo,i would not encourage anyone to use Payplan after this. completly see that the Payplan staff who've posted may not be making these decisions,if that is the case i'm sure they will be upset about this too.

there is very little i can say to help you other than we are thinking of you. you are strong brokebryn but if you are struggling please post if only for moral support right now.

i will continue to BUMP[;)],hug.

[Michael Peoples]

While I accept that the Payplan posters may notr be the ones who are making these decisions there is no excuse for them not coming on this Forum and telling us who is!

We want to know is this decision to bankrupt rejected variations made by the IPs at Payplan or the banks? If it is the IPs then they could do something about it and not put their clients through agony whereas if it is the banks making them do it, then any semblance of independence is lost.

I think it is fair to know.

[Rosepetal]

Michael, great post, i hope Payplan are reading this.

[kallis3]

Unfortunately Gemma hasn't logged in since Friday and Nick hasn't been on since February.

[Foggy]

Once again, I agree with you Michael. I hope I am wrong, but it could be that Nick and Gemma have been "requested" by their masters not to communicate on here so openly as they used to.

They are doing themselves no favours by not allaying, or at least recognising and discussing, their client's fears and are demonstrating a degree of arrogance not befitting a company in this industry.

[Foggy]

Seems I am wrong ( it happens sometimes!). Gemma has recently posted on another thread!

[back on track]

what would happen if people did not sign the variation with this bankruptcy bit in it.surely payplan must have a say in how they prepair there variations or as said above have they not only moved the goalposts but the entire field at the request of the creditors who by my reading are still held to the original proposal same as we are.if the creditors can request them to change the rules then we can too as payplan still get paid out of the same pot as the creditors.and what judge with a jot of common sense would allow somebody who has complied with everything in the 5 years of the iva to be s**t on from a great hight by some trumped up reason for you to go bankrupt

[Michael Peoples]

The client has to agree to the variation terms in the same way that the IVA is their proposal. However, if they do not agree to the variation terms what threats are being used against them? I do not know.

[Gemma Burton]

I have been following this thread and can assure everyone that Payplan representatives have been in regular contact with this client to discuss the issues detailed in his posts. For reasons of confidentiality I am not able to give details of what has been agreed, however we are doing everything possible to find a positive resolution.