Case Study – Scott
Scott (32) came to PayPlan 5 years ago with £6,000 worth of debt.
The majority of his debts were with credit cards, payday loans and catalogues.
At the time, he was also in a relationship with someone who was constantly borrowing money from him, and this made it even more difficult to pay what owed, which led to Scott getting into debt.
Scott said: ‘It was a vicious cycle, they didn’t budget their own money and never paid me back in time.’
Scott explained that he was constantly ignoring debt collection notices and the credit card bills that would come through the door.
One day, he was speaking to a close family member about his debt problem when they recommended PayPlan to him, as they had been a former client.
He reached out to PayPlan, and our advisers talked him through his situation. Due to his circumstances, Scott was recommended a Debt Management Plan (DMP).
He said: ‘The advisers I spoke to was always willing to help! They kept me updated throughout the whole process.’ Throughout his plan, he used PayPlan Plus which is an online portal and app that allowed him to keep tabs on his debts, make payments and carry out an annual review.
He said: ‘The online tool [PayPlan Plus] was really good! It let me know that things were happening and I could see the amount going down that I owed’
During the time in a DMP, Scott changed jobs and increased his wage. This extra income allowed him to save some money to get in a better position as he was looking to buy a house.
He was able to pay off his remaining debts with creditors in a lump sum.
We are very pleased to hear that Scott successfully purchased his first home in May 2017!
He said: ‘If it wasn’t for PayPlan, I wouldn’t be in this position where I am now – owning my own house!’
If you, or someone you know might be in a similar position to Scott, then get in touch with one of our trained advisers today on 0800 716 239 or use our Debt Help Form to get help online.
The majority of his debts were with credit cards, payday loans and catalogues.
At the time, he was also in a relationship with someone who was constantly borrowing money from him, and this made it even more difficult to pay what owed, which led to Scott getting into debt.
Scott said: ‘It was a vicious cycle, they didn’t budget their own money and never paid me back in time.’
Scott explained that he was constantly ignoring debt collection notices and the credit card bills that would come through the door.
One day, he was speaking to a close family member about his debt problem when they recommended PayPlan to him, as they had been a former client.
He reached out to PayPlan, and our advisers talked him through his situation. Due to his circumstances, Scott was recommended a Debt Management Plan (DMP).
He said: ‘The advisers I spoke to was always willing to help! They kept me updated throughout the whole process.’ Throughout his plan, he used PayPlan Plus which is an online portal and app that allowed him to keep tabs on his debts, make payments and carry out an annual review.
He said: ‘The online tool [PayPlan Plus] was really good! It let me know that things were happening and I could see the amount going down that I owed’
During the time in a DMP, Scott changed jobs and increased his wage. This extra income allowed him to save some money to get in a better position as he was looking to buy a house.
He was able to pay off his remaining debts with creditors in a lump sum.
We are very pleased to hear that Scott successfully purchased his first home in May 2017!
He said: ‘If it wasn’t for PayPlan, I wouldn’t be in this position where I am now – owning my own house!’
If you, or someone you know might be in a similar position to Scott, then get in touch with one of our trained advisers today on 0800 716 239 or use our Debt Help Form to get help online.
This article was checked and deemed to be correct as at the above publication date, but please be aware that some things may have changed between then and now. So please don't rely on any of this information as a statement of fact, especially if the article was published some time ago.