need help on my dwp plan

lesleyvhalifax

hi

i am confused by something

I am on a dwp plan with dfh (did not know about this site then), for about 6 months now.

In the meantime I have been receiving phone calls from one of my creditiors, often on a daily basis, and had greatest pleasure telling them to s*d off (so to speak).

I received a statement from my creditor today, and it breaks down like this.

previous balance £677.50
payments £14.54
Interest and debits £17.91
Interest charges £15.33

present balance £696.20:eek:

No wonder they are phoning me daily.:mad:

I thought on these plans that the interest was frozen or reduced and no charges etc.

I am awaiting a callback from dfh. what more can i do

lesleyvhalifax

that should be dmp plan

kimmi_b

Hi Lesley

I am currently on a DMP with Payplan. All my creditors have been contacted and several have agreed to freeze or reduce interest and drop charges for a specified length of time (mostly my credit card lenders). However I also owe money to catalogue companies and they are still charging me insufficient minimum payment fees, default charge letter sent fees, administration fees etc etc. My debts with them have increased by almost £100!

I contacted Payplan who advised me that creditors are not obliged to reduce or freeze interest however they did tell me that when I reach the end of my DMP (date was estimated at the start of my plan), their usual practice is to contact the lenders and request the all fees and interest applied to the account since starting the DMP be waived (I assume in some kind of full and final settlement offer maybe?).

I am a long way off that though - several years in fact! I am hopeful that after a few more months of reduced payments the rest of my creditors will get the message and follow the big lenders in stopping these ridiculous charges.

Try not to worry - there is nothing you can do other than wait to hear from your DMP company.

lesleyvhalifax

ok thanks just seems weird that the amount should be going down but it is going up by £19 a month

wanna-be-mortgage-free_2

Hi Lesley

You could ask your DMP company to send them a letter asking if they will freeze the interest. No harm in contacting them again with the request.

Good luck.

Lucascain_2

I assume your paying a fee to DFH for their debt management services? This money could be used to reduce your debts quicker, and not lining the pockets of DFH.

I'm not sure how you would need to go about changing your debt management company, but you really need to get in changed to either CCCS or PayPlan.

Both of these provide the same service for free. Just think, if your paying DFH £40 per month, for example, over three years you're giving them £1,440 for nothing. £1,440 which could be used to clear off your debts.

You need to call CCCS and see how you would go about changing to them.

lesleyvhalifax

thanks lucas will do that