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“Could be much better.”

written by on 22/02/2013

First telephone call went well. I was told they could help, contact my creditors, help reduce/freeze interest payments.
The set up paper work was very easy to complete.

(However I ended up calling all of them myself over the following weeks as they did not hear from anybody at Pay Plan & thought I had no intention of paying)

Second telephone call they started trying to sell me many products that I did not want or require.Many calls from them later, I ended up agreeing to pay £5 a month for life cover just to get them off my back & start the plan.

They take the money, it sits in their account? for at least a week. Creditors constantly send me reminders about late payments & add charges as they are not paid straight away.

On some accounts I have barely made any progress.

I owed about £7000, I have now paid £2000 yet my debts still stand at £6000 due to these 'late payment' charges.

I was told I would be debt free in 2.5 years at £205 a month payment.

A year on, I can see that is completely untrue. When looking at my account online, not one of the balances owed to creditors is correct.

I still speak to creditors to confirm I am still with Pay Plan, they DO have the months payment, NO, I DON'T KNOW WHY THEY HAVE NOT BEEN PAID YET!!
This happens most months.

I have a real issue with the length of time from taking the money from my bank account to reaching my creditors. I also have an issue with the way they split the payments, I would much prefer higher amounts to go to those accounts where interest is still being added.

Overall the staff I have managed to talk to have been very polite, but remember while they may be a 'free' service, they do work for the creditors & the staff do get paid.

I am seriously considering contacting the creditors to make payments directly to them myself in the hope of stopping interest charges & becoming debt free much more quickly.