Debt Questions

Hi. I am returning for fresh advice. After reading this forum and following it's advice I set up a DMP for my husband which is estimated to last 20 years. We have been paying through Payplan for eight months. Is it correct that you have to pay at least £100 a month in order to benefit from a company like Payplan? And that if we tried to pay less than this amount we would have to take on the banks ourselves? My husband is retired and the money we are paying takes a third of his pension.
Thanks for any replies

The rule of thumb is that, if you are with a Debt Management Company, the minimum amount you can pay them every month is £100.

Yes, if you are unable to manage that amount then you will have to manage your own DMP. This is not as daunting as it seems, as many on here do find that they can handle it very well.

If you want to ensure you receive advice from others who might be able to be of help then I'd suggest that you post your question in the Debt Management Plans/Companies section as it is more likely to to be seen.

If you are in Payplan they would not throw you out if you could no longer make the payments that you originally set up. Their motto in what they call Client Support is to maintain and sustain.

Speak to your case officer if you cannot afford the figures and think whether this is still the best option as if you do not own a property and you are reaching a period in life where you want to take it easier and perhaps have some money left over to buy presents for relatives at Christmas he could go bankrupt!!