Debt Solutions
Our debt solutions include free debt management plans, IVAs,and other free debt advice on a range of financial problems such as mortgage arrears and repossession action.
Debt Management Plans
A Payplan debt management scheme or debt management plan is a debt solution where an informal arrangement is made between you and your creditors which Payplan manages for you for free – Payplan's debt management solution has no fees.
In many cases creditors agree to suspend interest and other charges for as long as agreed monthly repayments are maintained. Payplans debt management plans are free to our clients.
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IVAs
Individual Voluntary Arrangements (IVAs) are a legally binding arrangement between you and your creditors. Payplan's Insolvency Practitioners will supervise the arrangement that will normally last for five years,
and upon completion results in a significant part of your debt written off. A Payplan IVA typically completes with no fees charged to our clients.
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Trust Deeds (Scotland)
Trust Deeds are similar to an IVA but are only available to residents of Scotland. A Trust Deed will normally freeze interest and other charges of the unsecured debts listed, and provide an affordable repayment plan which, upon completion, will write off a significant proportion of the debt. Payplan will put you in touch with a licensed professional to arrange a Trust Deed for you if it is the best debt solution for you.
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Mortgage Arrears Advice
Payplan are experienced in giving all kinds of debt advice. Mortgage Arrears are the root cause of further action such as repossession. Often the preventative solution is to follow good arrears advice as soon as you become aware of the problem, and payplan can speak to mortgage lenders and help integrate arrears repayments around an affordable debt solution.
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Repossession Advice
Repossession can be a frightening process, and sometimes time is a crucial factor. If you need help fast then let Payplan take the strain by supporting you with our wealth of experience in this area. We will use all the legal know-how at our disposal to try and quickly find a solution that could stop a lender repossessing your house.
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