Step 4 TAKING ACTION

Following an in depth assessment of their income and expenditure, clients who seek money advice from PayPlan are normally recommended a debt solution. Options include Individual Voluntary Arrangement (IVA) or Debt Management Plan (DMP).

Clients are given the facts about the debt solutions they have chosen, as well as the pros and cons of what it will mean to them, if they choose to progress. Once a decision has been made clients are guided by a PayPlan case worker into setting up their solution.

 

Debt options PayPlan advise and support:

step 4 taking action

Debt options PayPlan advise and signpost clients to:

debt options advise and signpost

OPTIONS FOR NEGATIVE SURPLUS

There are some circumstances where it is not possible to offer a managed debt solution, especially where clients have negative disposable incomes. In these cases, PayPlan’s advisers support them by recommending alternative options.

Alternative debt options include Bankruptcy, Debt Relief Orders (DROs) or a Self-Managed debt solution, which involves liaising with creditors direct to make arrangements for reduced or token payments, set at an affordable level.

repayment coverThose who opt for Self-Managed debt solutions the support includes referring them to third party support organisations where necessary and giving them the Repayment Arrangement Guide, with step-by-step assistance for setting up an informal self-managed arrangement.


DEBT OPTIONS

VULNERABLE CLIENT TEAM

PayPlan’s Vulnerable Client Team support clients who are considered to be particularly vulnerable. This may be due to their personal circumstances or vulnerabilities, which are likely to leave them susceptible to detriment.


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