PayPlan
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Be very aware of the process if you want to sell your property once in an IVA
Whilst they are very polite and helpful and I’d had a good experience up till yesterday. My bad experience came when wanting to sell my property. It was not explained to me at any stage (even though I kept them updated at every step) the length of time it takes to put on and remove a restriction on property. I was told it was ok to go ahead and put the property on the market which I did and quickly got a buyer. Only over a month in did it become apparent that lifting the restriction would take time. I was assured after pushing for accurate information that it would take approximately 2weeks. I then received a notification from the Land registry to place the restriction on the property )it wasn’t even in place at this stage) I spoke to Land Registry and it takes about 6 months or more to put a restriction in place and all PayPlan needed to do at this stage was call and cancel it as it had not been applied. Worst case scenario would be another 6 months to remove it. PayPlan have brushed aside my complaint with excuses. There’s no excuse for not keeping people fully informed of process. I will now incur high costs involved with solicitors and estate agents if (which I’ve no doubt I will) I lose my buyers who in turn have also had costs due to solicitors and survey. Who pays these costs, certainly not PayPlan! BE VERY AWARE WHEN ENTERING AN IVA REGARDING THIS MATTER. We’re just 2 small people in a big world making money from the unfortunate.
