Problems with Payplan IVA

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wendy463

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Post by wendy463 » Tue Aug 14, 2018 6:28 am
We are in our fifth year of IVA and quite frankly at our whits end. We are with Pay Plan and they are still demanding large amounts of money without justification even though we have already paid the initial agreed amount. They are unbelievably lax and unprofessional and boarderline bullies in their quest to bleed us dry. "Live again" is part of their brand name but our lives have been hell.
What can we do?

Lisa Thomas

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Post by Lisa Thomas » Tue Aug 14, 2018 8:17 am
Make a written complaint (by registered post) including an explanation/break down of how they have arrived at their figures.

https://www.payplan.com/legal/complaints-procedure/

If you don't get a satisfactory answer escalate it here:

https://www.gov.uk/complain-about-insol ... actitioner
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Foggy

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Post by Foggy » Tue Aug 14, 2018 8:37 am
I agree with Lisa ... Payplan are getting worse ( and were never at the front of the queue!). I take it, as you are still in the initially agreed term, they have hiked your payments and / or are demanding equity release. They can only act within the terms of your agreement -- dig it out and read up, so you can challenge with authority.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Tue Aug 14, 2018 8:48 am
If the extras do relate to the equitable interest in your property then have a look here for some basic information, check your proposals and modifications as Foggy has suggested and consider getting valuation done to see if you can argue that the equitable interest figure is less than the minimum amount required for the clause to kick in:

https://youtu.be/PHfc85n39U4
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

kallis3

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Post by kallis3 » Tue Aug 14, 2018 9:06 am
Payplan were very good with us but it was a few years ago to be fair, but they do seem to be one of the worst now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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