Payplan Reports 14% Jump In Debt Help Sought

Written by Payplan Press Release - Grantham on Thursday 5 February 2009

Lenders Refer 81% More Customers To Seek Debt Help

January 2009 saw a 14% jump in the number of over-indebted consumers seeking help from Payplan, when compared to the final week of January 2008.

Payplan, the leading free debt solutions provider saw the number bolstered by a huge increase (81%) in the number of debtors referred by lenders. We believe that this is a result of lenders identifying and encouraging ‘at risk’ customers to seek independent debt help which considers the whole of their financial position.

Key Debt Facts*

• 14% increase in January 2009 calls compared to January 2008
• Payplan took on an average of 2,134 new debt cases each week this January**
• The last three months (Nov, Dec, Jan) shows an increase of 62% for lender referred calls
• January 2009 shows an 81% year on year increase in lender referrals

John Fairhurst, Managing Director of Payplan, commented on the figures:

“We have received a record number of calls every week this year. This is both down to individuals deciding to take control of their finances, and lenders who want to see a positive outcome for both themselves and their customers.

“It is heartening to see that increasingly creditors are helping their customers to deal with the whole of their debt problem, rather than just concentrating on the money owed to them.

“This huge increase in calls resulting from lender activity shows a demonstrable commitment to responsible lending and treating customers fairly, which was reiterated at November’s APACS and BERR credit card summit.”

Notes to Editors

About Payplan
Payplan provides free, ethical and immediate debt help to over 100,000 people every year, working closely with organisations in the field of money advice and consumer and employee welfare.

Freephone 0800 280 2816 six days a week to speak with an experienced debt adviser. Lines are open 8am to 9pm Monday to Friday and 9am to 3pm on Saturdays. Or visit www.payplan.com.
For further information please telephone 01476 541980 or email Jayne Newton.

*All figures can be attributed to Payplan. Further breakdowns are available on request.
**Factoring out the late end to the festive period.

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