They may save your sanity but are not the be all and end all
Without doubt Pay Plan have been an enormous help to me, I was not able to deal with all the creditors and by their intervention the daily harassment eventually ceased. It has to be realised however that by agreeing to a debt management plan you are effectively giving all of your spare money to your creditors and if an emergency happens not only do you not have the money to get it sorted but also no access to credit due to defaults. My only niggles with PP+ are that occasionally I have been charged by creditors for late payments when my payments are made through PP+ and also, what seems to be the case with many customers, my actual balances and the "estimated" are very different. Still, in 4 years I've turned £27k debt in to under £5k and an end is in sight, it has been a very tough 4 years. Most creditors have been pretty good and have stuck with the plan all the way through but Nationwide and Argos have been little short of evil, refusing the terms at the earliest possible moment and there did seem to be little support from PP+ when this happened.
Thank you for your comments and I’m glad that we have been able to help with your debts and to take the stress away from creditor contact.
To answer your queries in relation to the estimated balances, whilst it cannot be guaranteed that the interest rates and charges are frozen in a Debt Management Plan (DMP), Payplan do negotiate successfully with the vast majority of creditors to achieve this. I cannot speak on behalf of the two creditors that you have mentioned, but there is a small minority of creditors who will not stop interest and charges which affect the final balances, Payplan therefore use estimated balances until close to the end of a DMP.