Requesting interest freezes on own DMP

getting_there_slowly_4

Hi all,

I've set up my own dmp usng templates off the net to help me out of my £30k hole. All 4 creditors have accepted my terms for the time being, freezing charges but not interest on the overdraft and credit card accounts.

Reasons cited for this by Halifax is that I haven't gone through a dmp provider and HSBC state that their t&cs says interest still applies.

Are there any proven tactics or methods that I can try to get this frozen, it'll make the world of difference.

thanks for reading

gts

Karen_30

getting_there_slowly wrote: »

Hi all,

I've set up my own dmp usng templates off the net to help me out of my £30k hole. All 4 creditors have accepted my terms for the time being, freezing charges but not interest on the overdraft and credit card accounts.

Reasons cited for this by Halifax is that I haven't gone through a dmp provider and HSBC state that their t&cs says interest still applies.

Are there any proven tactics or methods that I can try to get this frozen, it'll make the world of difference.

thanks for reading

gts

Hey there,

I have both halifax and hsbc and all have stopped interest - although I am just about to go it alone so we shall see. I found that both halifax and hsbc passed to collections quite quickly and then the interest stopped.

Wishing you lots of luck, keep at them and they'll hopefully stop. x

Deep_In_Debt

Halifax refused to accept my dmp even though I am with (and was then) CCCS. Fortunately, they sold the debt on in December, 11 months after my dmp started and thus lumped on charges and interest and almost doubled my debt! They then said that they would only freeze interest for financial hardship...errr...I thought the fact that I had been struggling to pay them for ages and going on a dmp, proves that I'm in financial hardship!!!!!

Halifax seem to be a law unto themselves I'm afraid. Some people are lucky with them, some aren't.

Have no experience of HSBC.

Sorry, I've not been much help.

Good luck!

getting_there_slowly_4

Thanks for the input guys, I've written another letter to Halifax stating I sought advice from Gregory Pennington and Payplan before going it alone, will see what happens.

Not sure how to approach HSBC though.:rolleyes:

Pinkylouloubell

Hi there,

i am on a dmp with CCCS and have 3 debys to Halifax.
One joint current account £3000
One sole current account £600
One Loan £8000

So far they seem to have stopped interest althoug its coming up to a year soon, so will have to see.

You get told different thigs by different peole each time you phone up, its so frustrating!

Can I ask why you want to do the DMP on your own??

getting_there_slowly_4

Pinkylouloubell wrote: »

Hi there,

i am on a dmp with CCCS and have 3 debys to Halifax.
One joint current account £3000
One sole current account £600
One Loan £8000

So far they seem to have stopped interest althoug its coming up to a year soon, so will have to see.

You get told different thigs by different peole each time you phone up, its so frustrating!

Can I ask why you want to do the DMP on your own??

Thanks for the reply. I went alone because Gregory Pennington were gonna end up £5k richer if I went with them (no brainer there then) and Payplan couldn't help me because of the amount I earned.

They took about 6 weeks to tell me that, and I really wanted to get on the wagon so I did some digging and went for it.

I must say it's been ok, all parties have accepted, halifax credit card has stopped interest , and i'm working on the others...

Deep_In_Debt

Don't touch fee charging companies such as GP - CCCS are a charity and non fee charging, CAB and as you know Payplan.

Try CCCS also - they have a lot of respect from the creditors as I found out.

Deep_In_Debt

Obviously Halifax hated me...or perhaps it was because I didn't owe them that much and they wanted to get more out of me...or maybe they were charging me for all the harrassment they gave to me...10 calls a day must amount to quite a lot so I guess they wanted to get their money back somehow...

Sorry, well done on getting them to freeze interest etc.

I just hate them with a passion...

getting_there_slowly_4

Deep_In_Debt wrote: »

Obviously Halifax hated me...or perhaps it was because I didn't owe them that much and they wanted to get more out of me...or maybe they were charging me for all the harrassment they gave to me...10 calls a day must amount to quite a lot so I guess they wanted to get their money back somehow...

Sorry, well done on getting them to freeze interest etc.

I just hate them with a passion...

Halifax have every reason to hate me, 3 loads of debt with them about £23k in all! In all fairness, they have been ok to me so far.....

Deep_In_Debt

I owed them £750...probabably cost them more in phone calls and harrassment!