Can I add Debts to my IVA?

There isn’t a simple yes or no answer to this question, unfortunately.An Individual Voluntary Arrangement (IVA) is a legally binding debt solution, and once you’ve agreed to the terms and conditions it can be difficult to add new debts to…

How to Stop Debt Collection Letters in the UK

Debt collection letters can be intimidating and you may not know what to do when one drops on your doormat. We’ve talked before about what to do when bailiffs come knocking at your door, but what should you do when…

How to Respond to a Debt Collection Letter?

Debt collection letters are the most common form of contact used by creditors to remind you of unpaid debts. You may find that if you’ve missed multiple payments, these letters start to pile up. These should not be taken lightly,…

How to manage debt stress

Feeling anxious about debt? You’re not alone. One in two adults in debt in the UK has a mental health problem, and one in four people who’ve got mental health problems are also currently in debt.*Whether it’s credit card debt,…

Does bankruptcy affect your employment?

Bankruptcy is a debt solution that’s often only considered as a last resort. Once you’ve declared bankruptcy, a trustee will sell your assets in order to repay as much of your debt as possible. After this is over the remainder…

Are debts shared in divorce?

Going through divorce isn’t easy. Along with all the emotional stress, you’ll have to deal with splitting up your assets in a reasonable manner and arranging how your debts are divided up, which is easier said than done. However, if…

Debt management plan moving abroad

If you have recently moved abroad but still have outstanding debts held in the UK, you’ll need to know what this means for you. Moving overseas doesn’t mean the debt will go away but you may be able to deal…

How do I complain about a debt collection agency?

If you have found yourself in debt and are struggling to pay back the money you owe to your creditors, you may be approached by a debt collection agency. The agency will work on behalf of your creditor to try…

Client Story: “My life is very different now that I’m debt-free”

As part of 2019 Mental Health Awareness Week, we want to share a story about one of our clients who found themselves in financial difficulty and the effect it has had on their life. Christina Burns is a mother of…

Budgeting with a Debt Management Plan

What is a DMP? A Debt Management Plan, or DMP for short, is an informal arrangement between you and your creditors. Although not a legally binding agreement, firms who set up Debt Management Plans need to be authorised and regulated…

The Financial Struggles of Being a Single Parent

There are many reasons single parents struggle financially, and it’s nothing to be embarrassed about. Being a single parent is hard, especially when there’s only one monthly paycheck instead of two and you have to put more money into childcare…

How to Get Out of Debt and Spring Clean Your Finances

The January blues have subsided and the sun is coming out. The temptation to loosen the belt and relax your spending habits is undeniable. Here at PayPlan we’ve put together a list of financial top tips for creating and staying…