Welcome to PayPlan’s debt advice blog!
Our blog covers the latest news at PayPlan, tips to help you save money, our latest press releases, expert insight and everything in between.
Debt Facts
1 Jul 2019
How successful are IVAs?
Debt Facts
1 Jul 2019
How are IVA payments worked out?
What is an IVA? An IVA is usually a 5 to 6-year debt solution designed to help you write off the majority of your unsecured debts through regular monthly repayments. You will work with a debt advice provider (such as…
Living in Debt
1 Jul 2019
Can an IVA take my inheritance?
What is an IVA? An Individual Voluntary Arrangement, or IVA for short, is a debt solution whereby you pay all of your unsecured creditors back in monthly payments usually over a period of 5 or 6 years. Once the agreement…
Money Management
25 Jun 2019
Tax credit overpayments
Receiving a letter from HMRC saying that you’ve received tax credit overpayments can be incredibly frustrating; not only because you won’t have been expecting it, but because you’ve now got to give back a chunk of money that HMRC gave…
Money Management
18 Jun 2019
A Guide to Buying Goods on Finance
A guide to buying goods on finance Unfortunately, we don’t always have the money we need to make the purchases we want. This is where finance agreements come in. Buying goods on finance can give you access to products you…
Money Saving Ideas
18 Jun 2019
Get to Grips With Your Food Shop
GET TO GRIPS WITH YOUR FOOD SHOP The chances are, food shopping accounts for a large chunk of your household spending. Of course, everyone has to eat – but right now you might be shelling out much more than you…
Money Management
18 Jun 2019
How to Cancel A Direct Debit
Living in Debt
18 Jun 2019
I Can’t Afford Bankruptcy
‘I can’t afford bankruptcy’ sounds like an oxymoron. You’re already in a poor financial situation. Why should making it worse cost money? The truth is, bankruptcy is often a more favoured option to other alternatives. And for those faced with…
Money Management
6 Jun 2019
How to Reduce Your Spending
There are many reasons why we might want to reduce our spending. Some of us might live on a tight budget, and need to cut down on spending for essential items without borrowing more money. Others might want to cut…
Money Saving Ideas
6 Jun 2019
5 Money Saving Tips to Help Your Budget
House prices are on the rise, the increasing cost of living is showing no sign of slowing down. Now is a good a time as any to be making cutbacks, so here’s 5 money saving tips to help your budget…
Debt Facts
30 May 2019
Is it Legal for Debt Collectors to Call Family Members?
Creditors will use an array of different tactics to try and recover money if you owe a debt to them. Repeated phone calls, automated emails, endless letters reminding you of the consequences of not paying…the list goes on. If these…
Living in Debt
29 May 2019
Can I add Debts to my IVA?
There isn’t a simple yes or no answer to this question, unfortunately. An Individual Voluntary Arrangement (IVA) is a legally binding debt solution, and once you’ve agreed to the terms and conditions it can be difficult to add new debts…
Debt Facts
29 May 2019
Does a DMP Affect Your Mortgage?
A Debt Management Plan (DMP) is a debt solution that doesn’t include secured debts, which are debts secured against property that you own. This includes things like cars (auto loans) and property, meaning that if you’ve got a mortgage your…
Living in Debt
29 May 2019
How to Stop Debt Collection Letters in the UK
Debt Facts
29 May 2019
Can I Get a Mortgage With a Trust Deed?
A Trust Deed is an arrangement between you and your creditors to pay off your unsecured debt. Trust Deeds are sometimes referred to as a ‘Scottish IVA’ (IVA meaning Individual Voluntary Arrangement) as they’re not available in other parts of…
Debt Facts
28 May 2019
How do debt management companies work?
When you’re in debt, it can seem like the whole world is against you. Letters from your creditors asking for money, constant phone calls asking when you’re going to pay off your debt, emails every day asking when you’re going…
Money Management
23 May 2019
Five steps to helping self-employed clients with debt advice
With the number of self-employed individuals at record levels, Nick Payne, Insolvency Practitioner at free debt advice provider PayPlan Bespoke Solutions Limited, explains how self-employed clients need a tailored approach. The BBC has reported that the number of self-employed workers…
Debt Facts
23 May 2019
How often can someone file for bankruptcy?
Bankruptcy is a solution people turn to when looking to discharge their debts. It usually lasts for a year, depending on the specifics of the case. Bankruptcy laws dictate that an individual can file an infinite amount of times. Having…
Debt Facts
23 May 2019
Can I claim PPI if on a Debt Management Plan?
Are you in a Debt Management Plan? Do you feel as though at some point you’ve been missold Payment Protection Insurance (PPI)? The good news is that yes – you can claim PPI on a DMP. Regardless of what claims…
Client Stories
20 May 2019
Client Story – Amy
How much debt were you in when you asked PayPlan for help? When I initially called PayPlan to see if they could help me, I was in around £15,000 worth of debt. I said to the person on the phone…