Payplan dmp will end when I am about 200 years old

[sequenci]

Lily, can I just be sure that it is a DMP and not an IVA?

[dx100uk]

urm.. this is not looking good....

 

http://www.totemic.co.uk/

 

just because you register with payplan

is that allowing them to forward you data to another

'one of their organisations' operated by the same parent owner.

 

strike your claim is well hidden

but as with insurance products

own by the same group.

 

all at the same 'building'

[sequenci]

With IVAs the insolvency practitioner has an obligation to get the best return for the creditors - including the investigating of PPI refunds etc.

With DMPs there isn't this obligation. I don't think their's anything wrong with offering the service so long as the debtor is offered the choice whether or not to go ahead.

[dx100uk]

yes but should they be allowed to pass on details to what is effectively another business?

 

surely if this were to happen, payplan should be telling punters this

before they sign up, your details will be forward to a select number etc etc.

 

dx

[sequenci]

yes but should they be allowed to pass on details to what is effectively another business?

 

surely if this were to happen, payplan should be telling punters this

before they sign up, your details will be forward to a select number etc etc.

 

dx

 

It should be with their terms and conditions I would imagine. Not 100% certain on that, though. I'm not saying I agree with what they are doing, mind you. They should at least offer a choice, and I really hope that they do.

[Lilythepink]

Update - Payplan have now listened, so they say to my conversation agreeing to STC, which I was transferred to, and thought it was part of Payplan, but wasn't going to do it, as I just though another nuisance call. PP now say that I agreed with all this, except they left out the part where I said that I didn't have any PPI's, and also didn't have the money to throw around investigating something, and paying them a fee. PP have now told me that I should tell STC that I don't want to take part. If they are the same people in the same building, how come they are pretending that they are separate.

[sequenci]

They might not be in the same building - although they should share the same systems. I beleive that Totemic/Payplan have a number of buildings - I think three or four.

[Lilythepink]

PP are really just out to make money out of us, as they are certainly on the bank's side

[sequenci]

PP are really just out to make money out of us, as they are certainly on the bank's side

 

That's not true. They're on their own side. As I've mentioned already they are a commercial firm.

 

If they were on the banks' side they wouldn't want to touch a PPI reclaim for sure!

[Lilythepink]

They are completely useless, for advice, and sorting problems out. Especially when you have to go to court!

[Nick Pearson]

Interesting thread. I assumed it was common knowledge that PP owned a PPI claims firm and also sold customers PPI on their DMPs. Nothing wrong with either activity and indeed both make v good sense in my view. If my old pal Wintry is looking in, just to let you know I may be heading back to the free sector!

[citizenB]

Interesting thread. I assumed it was common knowledge that PP owned a PPI claims firm and also sold customers PPI on their DMPs. Nothing wrong with either activity and indeed both make v good sense in my view. If my old pal Wintry is looking in, just to let you know I may be heading back to the free sector!

 

I didn't know !

[sequenci]

I didn't know !

 

It's important to also remember that PP are not a charity - they are a commercial firm, as such they have various sum-companies within their group - including a firm called Red Potato who provide a similar offering to the likes of Brighthouse.

[citizenB]

It's important to also remember that PP are not a charity - they are a commercial firm, as such they have various sum-companies within their group - including a firm called Red Potato who provide a similar offering to the likes of Brighthouse.

 

Hmm, so I guess that leaves only Step Change and CAB to recommend !!

[Peterbard]

It's important to also remember that PP are not a charity - they are a commercial firm, as such they have various sum-companies within their group - including a firm called Red Potato who provide a similar offering to the likes of Brighthouse.

 

Yes they also broker insurance through payplan financial services LTD'

 

I have seen several of the mail shots advertising credit without a credit search, not to sure how this works as the plans operate on leaving the debtor with only a small amount of disposable income after payments are made(if any). The credit I believe operates at just under 25% APR which is not to bad for a loan of this type I suppose.

 

This is from one of their flyers:

 

Payplan Ltd. is part of Ltd. Payplan, Payplan Financial Freedom, Paylink, Totemic, the Payplan Logo and the Totemic Logo are all trademarks of Totemic Limited. Payplan Ltd is a limited company registered in England and Wales with registered number 3783911. Kempton House, Kempton Way, Dysart Road, Grantham, Lincolnshire, NG31 7LE

[Peterbard]

Hmm, so I guess that leaves only Step Change and CAB to recommend !!

 

Personally I see no reason not to recommend Payplan. They seem to handle their debtor accounts well enough and at least they are up front with their business interests, funding has to come from somewhere.

[Lilythepink]

I have been with PP for over 10 years, and my dmp, isn't going to be paid until I am dead, how is that good advice....

[Peterbard]

I have been with PP for over 10 years, and my dmp, isn't going to be paid until I am dead, how is that good advice....

 

Excellent advice if the alternative was a repossession order or bankruptcy petition.

[Lilythepink]

No there was no threat of that at all.

[Peterbard]

No there was no threat of that at all.

 

Unless you are on a IVA there is no reason why you cannot just cease payment, if you are so sure that there will be no repercussions.

You can hardly blame the DMP provider if you do not wish to continue paying, it is after all a voluntary arrangement from all sides.

[Wintry]

Interesting thread. I assumed it was common knowledge that PP owned a PPI claims firm and also sold customers PPI on their DMPs. Nothing wrong with either activity and indeed both make v good sense in my view. If my old pal Wintry is looking in, just to let you know I may be heading back to the free sector!

 

Hi Nick

 

I have only just seen your post and this thread for that matter.

 

To be honest it always amazes me just how many people do not realise that Payplan are a profit making business.

 

There are many of us who have never been fooled:) - but free DMPs they definitely do

 

I read something recently on a CAB access site about Payplan (it really was interesting) must see if I can find it again, the cats out the bag I think

 

Interesting what you say Nick about returning to the free sector, are you coming home Nick? you know, back to the ever more 'arguably' only really 'big player' genuine, independent, impartial advice outfit left in town?

 

The strange irony is Nick, the signs are that I might well be on my way out of it all!! - will yer miss me?

 

My views

Edited October 13, 2013 by Wintry

[Nick Pearson]

Hi WintryI think I may be returning to one of the free, not for profit providers, lets just say that! Of course I'll miss you x

[sequenci]

Hi WintryI think I may be returning to one of the free, not for profit providers, lets just say that! Of course I'll miss you x

 

Back to where you once were or to another one?

[Nick Pearson]

Back to where you once were or to another one?

 

Looks like I may go back to my roots and work as a debt adviser in a CABx.

[sequenci]

Looks like I may go back to my roots and work as a debt adviser in a CABx.

 

Oh that's awesome. I wish you well with your endeavours. I find it entertaining that quite potentially you, Wintry and I could all be working on the same team!