DMP Mutual Support Thread (Part 5)

mags33_2

hi i have never posted in here before but i started a thread about my question and was directed to this thread to see if anyone could help. this is my situation at the moment

help with hbos/halifax
they are one of my creditors on my debt management. been paying them payments for 2 years come march 2009. For one year they froze interest then piled it all back on April 2008. :mad: added a huge amount of interest each till october when i then had the statement and no interest was added. Come November they then added the interest at a reduced amount saying they wouldnt freeze it again.

december recieve default notification. hear nothing since not a peep
got statement through today and there is not interest added.

i am totally confused what is going on have do they stop ineterst when default is served?

when do they pass it to a debt company?

sorry for so many questions but im not good with these things

very_silly_and_scared

Hi Mags

As far as I know when you are defaulted they pass you to a DCA and the interest generally stops...or at least that's my experience....

Don't take that as definite...but you have come to the right place and someone more knowledgable will be along soon to help. This is a great forum

mags33_2

thanks very silly and scared can i say i love your name

it just confuses the life out of me.

iv changed bank accounts as well and the old one are taking time in transferring balance and i need to make a payment to an account but obv wont let me as i have no funds in new account as yet well till midnight tonight when my pay goes through. phoned the company and they were nice and said they would put a note on the account and i was to call tomorrow and make payment, thought if i tried to switch it then it would be cleared tomorrow but it was refused as clever modern technology knew i had no funds.

ah life is great lol

very_silly_and_scared

I have been on a DMP since August (self administered) and just when I think I understand it all something else comes along and confuses me! MBNA have done much the same thing as your BOS/Halifax- I now owe them almost 1500 more since the summer....! Plus they are nasty bullies on the phone....!

Can I just say a big HELLO and welcome to all the new people on here and an even bigger one to all the old timers... have been catching up with all the posts and it's great to see you still around and surviving!

I will post tomorrow and update you on what's going on.... It's been a rollercoaster ride the past few months....though am coming out of it now- I hope....! I see a debt free day somewhere in 2012.....(again, I hope!!!) xxx

very_silly_and_scared

and I may have no money but at least I still have my sense of humour about the whole thing.... I even managed to get MBNA to stop the phonecalls....eventually!

mags33_2

my loan is with MBNA and since i set up DMP iv had no bother with them although initially i did.

its hbos iv got major prosb with i now owe about the same as you that i originally did because of all the late payments and huge interest. they are now looking for a payment of £900 and odd like thats going to be happening

i wish they served the default notice a year ago instead of just december mine seems to be on the slow burner to no where

im new to this just joined in december and learned loads already but i admit i missed this thread but sometimes things can go so quickly on here

mags33_2

very_silly_and_scared wrote: »

and I may have no money but at least I still have my sense of humour about the whole thing.... I even managed to get MBNA to stop the phonecalls....eventually!

they are bullies when i first went with dmp they even called my work!!! found the number apparently from tracing the health board through my address. They called me there , mobile and house. eventually head office deleted my work fone number. but touch wood heard nothing for what will be the best part of 20months

very_silly_and_scared

Mags, just been looking through some old stuff and someone sent me this template letter ages ago. Not sure if it helps?!

We are currently paying reduced monthly payments for these accounts through the Consumer Credit Counseling Service. This Debt Management Plan arrangement began in December 2006, and you are well aware of the history here.

In February 2008 you unfairly and without notice began adding interest and unlawful charges onto the accounts again, even though we have agreed this arrangement with you and are still paying through the CCCS and on a DMP.

These actions are clearly intended to secure yourselves further profit at our expense and would be considered unfair business practices due to youexploiting our financial position and increasing our debts.

It remains clear given the reapplying of interest that this Debt will take considerably longer to satisfy and has served to undo the progress we had made with out previous payments.

This is not helping us to reduce our Debt and is unfair to other creditors when they have still frozen the interest on our accounts. We are doing all we can to reduce our Debt but we are not able to do this if you insist on adding charges and interest.

You will be well aware of Office of Fair Trading Guidance 664, in which it states that Creditors cannot encourage Debtors to take out further Debt - this equally applies to Creditors who deliberately and willfully place a Debtor in further Debt in the pursuit of extra profits.

mags33_2

very_silly_and_scared wrote: »

Mags, just been looking through some old stuff and someone sent me this template letter ages ago. Not sure if it helps?!

We are currently paying reduced monthly payments for these accounts through the Consumer Credit Counseling Service. This Debt Management Plan arrangement began in December 2006, and you are well aware of the history here.

In February 2008 you unfairly and without notice began adding interest and unlawful charges onto the accounts again, even though we have agreed this arrangement with you and are still paying through the CCCS and on a DMP.

These actions are clearly intended to secure yourselves further profit at our expense and would be considered unfair business practices due to youexploiting our financial position and increasing our debts.

It remains clear given the reapplying of interest that this Debt will take considerably longer to satisfy and has served to undo the progress we had made with out previous payments.

This is not helping us to reduce our Debt and is unfair to other creditors when they have still frozen the interest on our accounts. We are doing all we can to reduce our Debtbut we are not able to do this if you insist on adding charges and interest.

You will be well aware of Office of Fair Trading Guidance 664, in which it states that Creditors cannot encourage Debtors to take out further Debt - this equally applies to Creditors who deliberately and willfully place a Debtor in further Debt in the pursuit of extra profits.

oh thank you for that

i love this site learn something new every day

dlb

Hiya guys and girls..hope we are all ok today?

Nothing will spoil today for me even if creditors ring, send letter as im off to relive my youth tonight...im off to see my teenage heart throbs New Kids On The Block in concert tonight..sad i know!!!! LOL
But we all need something to look forward to whilst on our debt free journey and my sister bought me ticket as an xmas pressie and i cant flipping wait!!!

Have a good day everyone..and ill catch up with you all tommorow..as off to hairdressers ,need to pick my clothes, charge batteries up ect ect pml!!!!!
Donna
xxxx