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Payplan or Stepchange – Which is Best?

Scott Nelson MoneyNerd Janine Marsh MoneyNerd
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Scott
Scott Nelson MoneyNerd

Scott Nelson

Debt Expert

Scott Nelson is a renowned debt expert who supports people in debt with debt management and debt solution resources.

Learn more about Scott
&
Janine
Janine Marsh MoneyNerd

Janine Marsh

Financial Expert

Janine is a financial expert who supports individuals with debt management, cost-saving resources, and navigating parking tickets.

Learn more about Janine
· May 29th, 2024
Could you legally write off some debt? Answer below to get started.

Total amount of debt?

For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.

For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.

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PayPlan Or StepChange

For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.

Are you worried about debt and looking for the best way to manage it? You’re in the right place. Each month, over 170,000 people visit our website for advice on debt solutions.

We’ll answer your questions about:

  •  The role of PayPlan in a debt management scheme
  •  How StepChange can help with a Debt Management Plan (DMP)
  •  Ways to write off some debt 
  •  The differences and similarities between PayPlan and StepChange
  •  How to contact StepChange and PayPlan

In 2022, arrears on household bills increased by 68% from £1,739 to £2,9201. So rest assured you’re not alone, as it’s quite common for people to struggle with debt.

Don’t worry, we’re here to help you find the best way to manage your debt.

Could you legally write off some debt?

There are several debt solutions in the UK, choosing the right one for you could write off some of your unaffordable debt, but the wrong one may be expensive and drawn out.

Answer below to get started.

How much debt do you have?

This isn’t a full fact find. MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

What is the role of PayPlan in a debt management scheme?

PayPlan is one of the largest debt advice providers in the UK. 

They offer free help and financial advice to their customers to help them get rid of their debt problems. Payplan is funded through contributions from the credit industry and commercial partners.

Moreover, they provide freephone debt line and debt help tools through their website.

How can StepChange help with a DMP?

If you have a Debt Management Plan with a commercial debt management company, your monthly payments could be going to the debt management company as fees. 

However, switching to a Stepchange Debt Management Plan will make all your monthly payments go towards paying your debt.

This could help you pay off your debts faster. 

You can also get other debt solutions and debt relief from Stepchange. They will be able to talk you through their options when you speak to their advisers.

How a debt solution could help

Some debt solutions can:

  1. Stop nasty calls from creditors
  2. Freeze interest and charges
  3. Reduce your monthly payments

A few debt solutions can even result in writing off some of your debt.

Here’s an example:


Situation

Monthly income £2,504
Monthly expenses £2,345
Total debt £32,049

Monthly debt repayments

Before £587
After £158

£429 reduction in monthly payments

If you want to learn what debt solutions are available to you, click the button below to get started.

Get started

What are the similarities?

PayPlan and StepChange both help people deal with debt problems in the UK, at no cost to the individual.

They provide confidential debt advice which is for free. The advice could be taken through a call or online. 

Moreover, they are a 100% free service for people residing in the UK.

» TAKE ACTION NOW: Fill out the short debt form

What is the difference?

While both offer free debt advice and debt management plans, there are some differences between the two. 

Payplan provides help with a large number of debt solutions, such as IVAs (through their partner companies).

PayPlan is a company, funded by donations from the credit industry, while Stepchange is a registered charity.

Stepchange also offers some debt solutions, including IVAs through Stepchange Voluntary Arrangements.

Thousands have already tackled their debt

Every day our partners, The Debt Advice Service, help people find out whether they can lower their repayments and finally tackle or write off some of their debt.

Natasha

I’d recommend this firm to anyone struggling with debt – my mind has been put to rest, all is getting sorted.

Get started

Reviews shown are for The Debt Advice Service.

What if I am unhappy with their services?

Customer experiences with Payplan and Stepchange are both generally very positive. But sometimes things just don’t work out.

If you are unhappy with either company, the best thing to do is make a complaint to them.

You can make a complaint to Stepchange by post, phone call, or email. You will get an acknowledgement of your complaint within 5 working days and Stepchange will take a maximum of 4 weeks to investigate.

You can make a complaint to PayPlan by post, phone call, or email and they aim to get your issue resolved within 3 business days of receipt. If this is not possible, your complaint will be passed onto the Complaints Team and you will be notified if there is any further investigation.

If you feel that either Stepchange or PayPlan have not dealt with your complaint adequately, you can make a complaint to the Financial Ombudsman Service (FOS).

They will investigate your complaint and how both companies responded. They may even issue you compensation if your complaint is significant enough.

What do people say?

Payplan and Stepchange have thousands of positive reviews between them. Here are just a couple.

This person used Payplan to start clearing their debts. Sometimes having some extra support can make all the difference!

This reviewer used Stepchange to get their DMP up and running.

As you can see, both Payplan and Stepchange can be excellent tools in your arsenal when dealing with your debts. If you want to get back in control of your finances don’t hestiate to contact them today!

Payplan Contact Information

Phone: 0800 280 2816
Registered Office: Kempton House, Dysart Road, PO Box 9562, Grantham, NG31 0EA
Website: https://www.payplan.com/

Stepchange Contact Information

Phone: 0800 138 1111
Online Debt Advise Service: https://www.stepchange.org/setting-expectations.aspx
Website: https://www.stepchange.org/
Could you legally write off some debt?

Answer below to get started.

How much debt do you have?

This isn’t a full fact find. MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

References

  1. StepChange Personal Debt Statistics in Scotland 2022
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The authors
Scott Nelson MoneyNerd
Author
Scott Nelson is a renowned debt expert who supports people in debt with debt management and debt solution resources.
Janine Marsh MoneyNerd
Debt Expert
Janine is a financial expert who supports individuals with debt management, cost-saving resources, and navigating parking tickets.