Welcome to PayPlan

Who We Are

PayPlan is a trading name of Totemic Limited – a company authorised and regulated by the Financial Conduct Authority to give debt advice, and establish and administer debt management plans.

What We Do

PayPlan offers free, no obligation debt advice, and will recommend the most appropriate debt solution available to you. In order to provide this service, we will need to collect information about your personal and financial circumstances. This will include details of your family situation, income, expenditure and creditors. As the data controller of any information we hold about you, we will comply with all relevant data protection legislation.

Debt Management Plans (DMP)

PayPlan can establish and administer debt management plans. This involves: > Negotiating with your creditors to agree an affordable debt repayment plan > Collecting your repayments and distributing them proportionally amongst your creditors > Keeping you informed of creditor communications > Completing an annual review of your debt management plan and personal circumstances > Providing ongoing support during your plan The terms and conditions of our Debt Management Plan will be provided to you before you commit to it. Amongst other things, the terms and conditions explain your cancellation rights and how we distribute payments to your creditors.

Our Fees

We do not charge fees for providing debt advice, or establishing and administering debt management plans. We are funded by creditors who recognise the value of the service we provide to help you repay your debts through a debt management plan. This means that 100% of your DMP repayments will be proportionally distributed to your creditors.

Credit Ratings

You should be aware that failure to meet contractual repayments in relation to debts will have an adverse impact on your credit rating.

Debt Relief Orders

PayPlan are authorised by the Insolvency Practitioners Association to offer Debt Relief Orders. These are formal insolvency solutions – where appropriate we will discuss this option with you.

Other Solutions

PayPlan does not directly provide the full range of debt solutions available. However, some of the alternative solutions which might be suitable for you are provided through our associated companies. Where PayPlan (or one of our associated companies named below) provide a solution which appears suitable for you, we will offer you a referral to that service. If we are unable to offer a solution from within our group of companies, we will signpost you to a suitable alternative provider.

Company Name Services Regulator
Payplan Partnership Limited Individual Voluntary Arrangements Insolvency Practitioners Association
Payplan Bespoke Solutions Limited Individual Voluntary Arrangements (for self-employed clients) Insolvency Practitioners Association
PayPlan Scotland Limited Trust Deeds (for Scottish residents) Insolvency Practitioners Association