Why do I have to review my plan?

Completing your Progress Review is something you need to do every year, or whenever you have a change in circumstances that may affect your budget or payments.

It’s really important because:

• It helps us make sure you’re still on track to become debt-free in the quickest possible time
• It provides reassurance to the people you owe money to that your plan is still working

The good news is, it doesn’t take long to do, especially with the help of our step-by-step guide.

Useful information

You may find it helpful to have a copy of your latest bank statement/payslip to hand to help you complete your review.

How to complete your review using PayPlan Plus

• Head over to payplanplus.com to get started
• Log in using your PayPlan ID and password
• You’ll then be taken to your PayPlan Plus dashboard where you can complete your review by clicking the ‘Start Your Review’ button

Step One: Reviewing your personal information

• This step shows the personal details we have on file for you - if anything’s changed, you can update it here
• When you’re finished, click ‘Confirm Details’ at the bottom of the page

Step Two: A few questions about your debt plan

• Next, you’ll be asked a few questions about how you’ve been finding your plan and whether there have been any changes in your circumstances we need to know about (anything that might affect your budget or payments)
• When you’re finished, click ‘Confirm Details’ at the bottom of the page

Step Three: Review your budget

• This is where you can make any changes as needed to your budget, for example, if your income’s changed or you need to amend any costs
• For each change, enter the new figure in the ‘New Amount’ field (next to the budget item)
• If you need to remove something, click ‘X’ on the right-hand side of the budget item
• If you need to add something, click ‘+ Add Expenditure’ at the bottom of the budget
• When you’re happy that your budget reflects your current circumstances, click ‘Confirm Details’

Step Four: Confirming your estimated monthly payment

• You’ll then be given an estimated monthly figure for your plan - this may be different to what you’re currently paying if your circumstances have changed
• Make sure you click ‘Next’ to go to the ‘Confirmation’ step. Please note this isn’t finalising the payment at this stage, it will simply mean you’re sending the information to us to check over
• Once you’ve checked the two options within this step (confirming you feel the proposed monthly amount will be affordable and you’re happy for PayPlan to share your updated details with the people you owe money to), click ‘Submit’

It’s essential you complete all four steps and click ‘Submit’ to complete your review.

Next steps

And that’s your latest information sent over to us! An advisor will review the information provided and be in touch with any questions and to confirm any changes to your monthly payment.

We may need to arrange a phone conversation to discuss your budget or any alternative debt solutions which could help you become debt-free more quickly.

Once we’ve assessed your review and provided you with the outcome, we’ll speak to the companies you owe money to and let them know about any changes.

 

Are you self-employed? Get help from our Specialist team today