Archive for Client Stories Category
My debt troubles started around 2002 when my wife and I were in high paid jobs. I then fell ill with depression and suffered a nervous breakdown. I was forced to take early retirement at the age of 50 with debt on credit cards.
We decided to sell our house in order to pay off all of the credit card debt which worked for a while. But with no new work and the credit card companies increasing my credit limit I found the temptation too much. They weren’t used to fund an extravagant lifestyle, it was just to cover the cost of living until we could both find new jobs. Before I knew it, it was too late and we were up to the hilt again, using one credit card to pay another and it was a nightmare. I started falling back into depression and both my work and home life began to get affected.
I then found Payplan through my union’s monthly magazine, at first I was very reluctant to contact them as I always thought it was too good to be true. My wife persuaded me to call them and it was the best move of my life. Payplan have sorted all my credit out and I now pay a monthly amount which in turn is paid to my creditors. My life has completely turned around and I am now at peace and can live within my means with no stress or worry.
Here a client explains how Payplan’s free debt advice helped her to overcome the loneliness and isolation caused by overwhelming debt, which started when she was student:
“I am 26 years old and just over £13,000 in debt. Every time I think about that figure my knees go weak.
My financial problems really started when I began university. Like most 18-year olds I did not have lessons on money management at school. Suddenly I was on my own in a big city with £6,000 to last me all year.
My boyfriend rang and asked me to lend him the deposit to move and I did it from my student loan. He never paid me back. So when my money ran out I had to pay for food and travel with bad cheques.
The stress I was under affected my grades and I was diagnosed with depression. I felt lonely and isolated.
Eventually I admitted defeat and asked my parents to take me home. I got a job almost straight away as a manager of a small clothing store. I sought treatment for depression and slowly got my life back on track.
I was contacted by a fee-charging debt management company who promised to help me. I was too ashamed to go to the CAB and I didn’t realise there were free companies like Payplan. So I ended up contracted to pay exorbitant management fees. At the time I didn’t mind, I was finally back in control of my life and money.
Not finishing my degree was eating away at me though. I started dreaming of being back in London. So I moved back to London and started studying Business and Law. I got a part-time job as a Student Ambassador ….I passed my second year at university with flying colours.
In the summer of my second year I had more success getting office work and I got my first ‘real’ job at the Ministry of Justice.
It seemed nothing could bring me down, but then the financial crisis hit. My contract was terminated without notice and I wasn’t entitled to redundancy pay.
I tried to remain upbeat. After all, I told myself, I had a little money saved and I had London work experience – all to no avail……I started getting hourly calls from my creditors. I found out the fee-charging debt management company had not made payments to any of my creditors or let them know about my change of circumstances or address. I was suddenly right back where I started with no income and a mountain of debt!
I was determined to solve this problem once and for all. It was through researching government recommended agencies that I found Payplan. After discussing my situation with advisors at Payplan I was able to make an informed decision that an Individual Voluntary Arrangement was the best option for me. I make affordable monthly payments and after six years whatever debt is left will be written off.
To anyone who finds themselves in my situation the best advice I can give is to face up to it. It is a small step to ask for help but it makes such a huge difference. Never be ashamed to ask for help.”
Like any business we strive to do the very best for our clients. So when they take the time to let us know that we have made a difference and helped them take control it brings us much joy. We just want to share two emails that we have received recently from our clients.
“A lot of companies (especially some of the larger ones) could learn a great deal about customer service from Payplan, because every member of the staff I have ever spoken to or corresponded with has always been very pleasant, helpful, informed and considerate. When we first approached Payplan we had reached rock bottom and our world seemed about to implode. Neither of us has anything but praise for the company for the way they have all helped us to turn our lives around. Poor service receives an inordinate amount of publicity, but good service rarely receives any, so we would just like to offer our heartfelt thanks to all at Payplan. We know that Payplan is a business and exists to make a legitimate profit, but it manages to do so by employing caring staff and adhering to an ethical code at odds with much of contemporary society, and that is a boast of which you should all be justifiably proud.”
This client is currently repaying his debts in an Individual Voluntary Arrangement.
“My family hit really difficult times at the beginning of the credit crunch. My wife lost the majority of her income and I also had reduction in self-employed work coming in. This alongside our son being in expensive childcare meant we had more outgoings than we could afford to pay. With advice we then had to prioritise the big bills that kept our home going. Our other arrears from other older card and credit purchases then began spiralling out of control. The letters, phone calls and late fees were never ending. We could not see a way out. We contacted many agencies for support. Payplan were the only organisation who turned advice into action. Their team helped us with budgets and making agreements with creditors. Eventually we opted for a DMP – it was realistic and affordable. Two years on we have never missed a payment with any of our bills and have never looked back. Although we have a long way to go but we now know progress is being made and we have a clear financial plan.”
This client is currently repayment his debts in a Debt Management Plan.
Being in debt is always a very personal thing, even after the double-dip recession with many people suffering some level of financial difficulty there is still such a stigma attached. At Payplan we help more than 100,000 people each year to become debt free. Each of them has their own story and some want to share it to try and help other people.
Here one of our clients wants to tell her story to show other people they are not alone…….
“In hindsight, with experience, if only I had known…..
“Swallowed up by debt and can’t sleep, trying to keep a direct debit going for your life insurance and thinking of walking onto railway lines to end your life because you think your family would be far better off without you?
“I have been there.
“I went on midnight walks round my town, knocking on an empty church door, sitting under a tree in freezing cold weather hoping the elements would take me. Having to walk back to a home with little sympathy and mostly hearing “you’ve been drinking again?”
“As a woman supporting a partner of 12 years and 3 children and trying to run a business, I was crumbling visibly. As the recession hit, my partner left, my business fell apart and so did I. I found myself signing on, with a box of tissues provided for me.
“Months later I had some better advice.
“Take note. If you have any credit card, bank or other debts – speak to Payplan. There is no charge, you can send them the letters you receive and can agree a monthly payment.
“For your electricity and gas supply – fit a meter. You pay for what you use and they take about £3 a week for outstanding debt. It was my best move ever.
“Water – a water meter saved me money.
“Once you get some strength, write to anyone you have had a bank, credit card or loan with and ask them for any PPI back. If you are not happy with their reply then write to the Financial Ombudsman Service – that is what they are there for.
“My problems were both personal and business. I think I can say I’ve been through it all, learned, and I’m still here. And life is getting better.
“Please see that it is not your fault. If you ever have a conversation with your child and they say
“mum would you rather kill yourself to make things ok rather than see your grandchildren” you know you need to get help!
“Couples please speak to one another. Share. Don’t ever let one person carry the whole financial burden.
“I hope this helps someone out there not to take their life.”
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