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
30 May 2019
Is it Legal for Debt Collectors to Call Family Members?
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 collection letters can be intimidating and you may not know what to do when one drops on your doormat. We’ve talked before about what to do when bailiffs come knocking at your door, but what should you do when…
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
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…
Money Saving Ideas
20 May 2019
Top 5 Tips to Save Energy at Home
According to the UK’s energy regulator, the average household spent around £1123 a year on both gas & electricity in 2017(most recent estimate). In addition, energy bills are likely to rise by more than £100 for 15m households. Coupled with…
Debt Facts
20 May 2019
Can I change from a DMP to an IVA?
A Debt Management Plan (DMP for short) is an agreement between you and your creditors to repay your unsecured debt in manageable monthly instalments. Because a DMP is an informal arrangement, you are not lawfully obliged to remain within it…
Living in Debt
20 May 2019
How to Respond to a Debt Collection Letter?
Debt collection letters are the most common form of contact used by creditors to remind you of unpaid debts. You may find that if you’ve missed multiple payments, these letters start to pile up. These should not be taken lightly,…
Debt Facts
17 May 2019
What is a warrant of control?
Living in Debt
17 May 2019
How to manage debt stress
Feeling anxious about debt? You’re not alone. One in two adults in debt in the UK has a mental health problem, and one in four people who’ve got mental health problems are also currently in debt.* Whether it’s credit card…
Living in Debt
17 May 2019
Does bankruptcy affect your employment?
Bankruptcy is a debt solution that’s often only considered as a last resort. Once you’ve declared bankruptcy, a trustee will sell your assets in order to repay as much of your debt as possible. After this is over the remainder…
Living in Debt
17 May 2019
What powers do debt collection agencies have?
You will probably have heard of debt collection agencies, but who are they and what can they do? What is a debt collection agency? A debt collection agency, also known as a debt collector, works on behalf of your creditors…
Living in Debt
17 May 2019
Are debts shared in divorce?
Going through divorce isn’t easy. Along with all the emotional stress, you’ll have to deal with splitting up your assets in a reasonable manner and arranging how your debts are divided up, which is easier said than done. However, if…
Debt Facts
16 May 2019
Dealing with official receiver after bankruptcy
Being declared bankrupt can be a daunting experience. If you know how to work with the Official Receiver however, you may find the experience a lot easier. Find out more about what the Official Receiver does and how you should…
Debt Facts
16 May 2019
Can creditors refuse a Debt Management Plan?
You may be in debt and have found that a Debt Management Plan (DMP) is a suitable way of repaying the money you owe to creditors in smaller installments. However, can creditors turn you away if you’re looking to apply…