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…
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…
What is a warrant of control?
If a creditor successfully has a County Court Judgment (CCJ) awarded against you and you don’t pay it, then a creditor may apply to court for a Warrant of Control. Put simply, this is a legal document that allows bailiffs…
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…
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…
Can you file bankruptcy yourself?
What is Debt Management?
Debt management is any plan put in place to help somebody in debt repay the money they owe to their creditors. Consequences of missing certain payments can be more severe than others. In some cases, you could be made bankrupt…
Paying Off Credit Card Debt
The number of people stuck with paying off credit card debt is rising. A recent study found that each UK household has around £2,688 in unpaid credit card debt. There may be a number of causes behind the UK’s credit…
How long does it take to improve credit score?
Having a low credit score affects your ability to take out credit. You can always improve your credit score, but you’ll need to take some steps to achieve this. What is a credit score? A credit score is a numerical…
Can Debt Collection Agencies Take You to Court?
Debt collection agencies work on behalf of creditors to collect a debt you’ve been unable to pay. As part of their attempts to make you pay, they may threaten court action. They have the power to do this, although only…
How long does bankruptcy last?
If you have been forced into bankruptcy or have decided/been advised it is the best course of action for you, it’s important to know the ins and outs of what to expect. What is bankruptcy? Bankruptcy is a debt solution…
Can you find out if someone has filed bankruptcy?
Bankruptcy can have a huge impact on an individual and it’s understandable that someone may not wish to advertise their financial situation to the world. However, once somebody is declared bankrupt, their details are legally required to be available for…
Can I cancel my IVA at any time?
An Expert Opinion… Debt Relief Order with Diane Watson
Hi Diane, can you briefly explain what it is you and the Debt Relief Order team do here at PayPlan? My role is the Competent Authority Liaison, which means I’m the link between PayPlan and the Insolvency Service. I am…
Has Universal Credit been a failure? – We asked our clients
With food bank use still rife across the UK and a considerable amount of in-work families still needing to use food banks, the controversy over Universal Credit rages on. In order to make sense of how well Universal Credit is…
How a Debt Management Plan (DMP) affects your credit
If you’re in a Debt Management Plan (DMP) or thinking about going into a DMP then it is important to understand how this will affect your credit file. A DMP is an arrangement that can be made between you and…
How an IVA affects your credit
An Individual Voluntary Arrangement (IVA) is a legally binding agreement between an individual and their creditors. It allows you to pay back one monthly affordable repayment and the creditors often agree to write off a certain percentage of your debts.…
Which Debt Should I Pay Off First?
When your lenders are constantly phoning you, and you have received several ‘final reminder’ letters, you might be losing sleep about which debt you should pay off first. All debts need to be paid eventually, unless you have an agreement…
Can Debts Be Written Off?
This is one of the most common questions that people ask us, and the short answer is ‘when you’ve paid back what you owe’. But if there is no communication between you and your creditors, and six years elapse, the…