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How PayPlan are funded

We offer 100% free debt advice and 100% free debt management plans. We don’t charge our clients anything – you may wonder then if this is the case how PayPlan are funded.

We are funded in a rather unique way: rather than charging our clients, we receive donations from the credit industry for our Debt Management Plans. But don’t worry – we remain completely impartial, and will always recommend a debt solution that’s affordable, sustainable, and right for your personal and financial circumstances.

PayPlan’s long experience means we can give you access to a wide range of practical debt solutions to help you find your way out of debt.

How our Debt Management Plans are funded

A PayPlan Debt Management Plan is funded in a unique way.

Rather than charging our clients, we pay 100% of your regular monthly payment to your creditors to clear your debt as soon as possible. The credit industry recognises our services and many creditors agree to pay us a small donation for providing this service to you.

Our impartiality enables us to deal with all creditors, so we don’t favour any creditor more than another, and we’re certainly not affiliated with any creditor.

Our aim is to find you a solution that is sustainable and realistic so you can repay your debts at a rate you can afford.

Our reputation for helping people out of debt has grown over the years, winning huge support from creditors and organisations that are keen to help us provide people who are serious about repaying their debts with a totally free debt management service.

How our IVAs are funded

If you decide an IVA is the right debt solution for you, PayPlan will refer you to our sister company, PayPlan Partnership.

The monthly payments that you make into your arrangement will cover the payments to your creditors as well as the Nominee’s and Supervisor’s fees involved in an IVA. These fees will not affect your monthly payments, as by agreeing to the terms of the IVA your creditors agree to accept a lower debt repayment into the arrangement. This means that your IVA payments should always remain affordable for you.

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If you choose to enter a Trust Deed with PayPlan, it will be set up and managed by PayPlan (Scotland) Limited. Your lenders agree to these fees to support PayPlan (Scotland) Limited in managing your plan. PayPlan (Scotland) Limited only charges fees if you and your lenders agree to your plan.

If you choose to enter an IVA with PayPlan, it will be set up and managed by PayPlan Partnership Limited. All IVA companies charge a fee for managing an IVA. Your lenders agree to these fees to support PayPlan Partnership Limited in managing your arrangement. PayPlan Partnership Limited only charges fees if you and your lenders agree to your plan.

If you choose to enter a Self-Employed IVA with PayPlan, it will be set up and managed by PayPlan Bespoke Solutions Limited. Your lenders agree to these fees to support PayPlan Bespoke Solutions Limited in managing your arrangement. PayPlan Bespoke Solutions Limited only charges fees if you and your lenders agree to your plan.

Let’s make life more affordable

You’re just two steps away from taking back control of your finances and freeing up more money for you and your family.

No impact on your credit score.

Excellent, professional, friendly and empathetic service. PayPlan have given us our lives back!
Sandra Daly

Sandra Daly

5 stars
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What is an IVA?

An Individual Voluntary Arrangement (IVA) is an agreement with the people you owe money to. You make affordable payments over a period of time (usually 5-6 years) and at the end, your remaining debts are written off.

What is a Debt Management Plan?

A debt management plan (DMP) allows you to pay back your creditors each month at an amount you can afford. The DMP lasts until you have repaid your debts in full or your circumstances improve.

What is a Self-employed IVA?

A self-employed Individual Voluntary Arrangement (IVA) is an agreement to pay back what you owe whilst still running your business. You make affordable payments over a period of time (usually 5-6 years) and at the end, your remaining debts are written off.

What is a Debt Relief Order?

A debt relief order is a solution available if you are not able to afford any payments to people you owe to. It freezes debts for a year at which time they are written off if your circumstances have not improved.

What is Bankruptcy?

Bankruptcy is a type of insolvency that involves applying to the court in order to clear your debts. There is an upfront fee and you may be required to make payments from your earnings into the bankruptcy for up to 3 years.
Excellent, professional, friendly and empathetic service. PayPlan have given us our lives back!
Sandra Daly

Sandra Daly

5 stars
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