Bau's journey to a debt free life!

bauctu

Just in case:

Whilst I am very grateful that *** have accepted my monthly payments under the Debt Management Plan, I am extremely upset and demoralized that ** have continued to add an inordinate amount of interest to my account on a monthly basis.

Whilst I appreciate that ** do not offer interest free credit, surely under the circumstances it would be fair and sympathetic to cease the interest. Even a reduction in the amount charged would be of benefit to me. The majority of my other creditors have agreed to the offer of payment and agreed to suspend any interest charges. They have accepted that to continue to charge interest would not assist me in my present financial situation and can only serve to increase my total debt.

I have now paid considerable sums in interest to the above account. If interest charges continue, the monthly instalments I am paying will not even cover the interest. Also, the cooperation of my other creditors who have agreed to freeze interest would be put at risk.

I would therefore be grateful if you would reconsider your decision not to freeze the interest. This would mean that the monthly payments I make would actually reduce the balance outstanding to your company, therefore giving me more incentive to pay.

thanks Whoopiedoodle.

bauctu

Finally managed to send the CCCS form back on Wednesday so hopefully they're getting things up and running.

Still getting phone calls from GE money where no-one answers when you pick up. :mad: Also getting loads of calls on my mobile from loan companies (I deludely tried to get a loan for 22k to pay it all off and just have the one bill a month) YES loans are the worst they ring at least once an hour, when will they take the hint? If they ring when i'm on my own they'll soon get the message.

bauctu

:mad: Bloody HSBC, "You're over the agreed limit" well d'uh you just slapped on £150 charges what do you expect.:mad: :rolleyes: :mad: I wrote in plenty of time for the CC not to try and take the DD I had cancelled but they did and i've now gone over my overdraft limit and my CC is over the limit because of their bloody charges. :mad: They'll do exactly the same thing with my loan payment at the end of the month, so me leaving money in the bank to make sure I was not close to the overdraft limit was pointless it's already wiped out and is only going to get worse. :mad:


Why did I not do something about all this months ago...:(

bauctu

I write to tell MBNA that I am seeking the advice of CCCS and can only make token payments, so what do they do? Send me a new card with an increased limit. :rolleyes: That's so the best thing they could have done. :rolleyes:

bauctu

GE Money have only ring once today. hopefully they won't start again tomorrow with loads of calls.

I'm starting to feel more positive about everything, I had £15 in my purse 2 weeks ago and still have £10 of it and haven't missed spending money. If I can cut what I spend considerably I'll be debt free alot sooner.

I'm managing to get in a lot of hours of overtime at work at the moment so will be putting a fair amount in to a savings account for the next few months towards F&F offers at some point. All the hours i'm working mean I'm so exhausted when I get home I don't feel like doing anything involving spending money. I will get a student loans deduction again this month though, over a year I don't earn enough but last month with OT I went over the limit and got £8 taken off and it's bound to be more this month.

bauctu

The process is easy

1. You send a letter asking for information on your charges. You send £10 postal order or cheque with it as this is the maximum they can charge. Someone will take the £10 others will return it. They have to respond within 40 days.

2. You send a letter detailing the charges and asking for them back giving them 14 days to reply.

You will the probably get a letter saying "go away, our charges are fair" - so you send another letter saying you are giving them 14 days then instigating court proceedings. Or you may get an offer of less then you have claimed - don't accept this, you can get the whole lot back. In some cases you will get the whole lot back straight away.

3. You write a letter saying you will take them to court.

If you don't get an offer then you either start the MCOL process or go to the ombudsman.

All the info and template letters are here in Martin's guide:

http://www.moneysavingexpert.com/reclaim/

Thanks ex-spendahoic.

bauctu

Had a letter from MBNA thanking me for my letter and saying they are there to help me in anyway they can. Hopefully they'll be as supportive when CCCS get in touch. Not heard anything from anyone else yet and no calls today.

Realised earlier today that I'd forgotten a creditor on my CCCS forms :eek: but I don't owe much to it so I think I should be able to just pay it off next month.

boredofbeingathome

keep going bau i know there are lots of folk who can offer good advice about DMPS and there are lots of letters about for the stopping of phonecalls as well.some companies will try allsorts and others are very amenable.
Just adding my support.
BOB X

bauctu

boredofbeingathome wrote: »

keep going bau i know there are lots of folk who can offer good advice about DMPS and there are lots of letters about for the stopping of phonecalls as well.some companies will try allsorts and others are very amenable.
Just adding my support.
BOB X

Thanks BOB , I'm feeling quite positive at the moment despite just getting four calls in five mins from GE Money. :rolleyes: I'm no good at dealing with things over the phone, I get all tongue tied and it comes out all wrong. I'm definitely going to have send GE a no phone calls letter.

It's HSBC that worries me the most, £7000 unsecured loan (interest added on front so thats not a problem but they are sods for adding on big charges.) £5200 high rate credit card (if they don't freeze interest or at least lower it I'm not going to be doing anything other than pay interest with my DMP payments ) and £1500 overdraft. I guess it's really on the CC that's likely to be a problem.

boredofbeingathome

Do you have a caller display function or the ability to bar the last caller? That could help whilst the letters come into play.

Also previous advice has been never to give security details over the phone..MBNA often ask for a mobile no as confirmation as well..very sneaky they are!