Freezing interest?

Annie_Fanny

Hey all...

Just wondered if anyone could help or point me in the right direction...

I am sure you have all experienced this...a friend has got wind of my DFW ways and now wants my help. She is in a much worse position then me and has asked for advice on asking creditors to freeze interest. Is this possible? Can you do it yourself? Or would it need to be done as part of a DMP etc?

If anyone knows of a post that deals with this issue....I vaguely remember one poster 'going it alone' and not using the CCCS/Payplan etc....who is it?

Any help is appreciated!

Annie

THE_LONE_RANGER_4

i asked my creditors to freeze the interest i did go to cccs but in the end decided to go it alone i wrote to them all froze the interest out of the 15 debts some accepted reduced payments some didnt tell me they had frozen the interests but they had and then passsed on to dca for collection etc etc

carolbee

I wrote to our creditors, they all froze interest without quibbling, am now paying reduced payments as well, a couple wrote after six months to ask to increase payments (by about £5 a month on one, more on another) which I was able to do. the ones that said they would review after the initial six months which havnt contacted me I have just kept paying - not going to rock the boat. will take forever to pay back but can live properly like this, and when we get a big lump sum due to us in 3/4 years time, this will pay off completely

Annie_Fanny

Carolbee - thanks for your post...

How did you phrase the letter - I am interested under what circumstances they agreed to the freezing of interest?

carolbee

got the pack from national debtline and followed their guidelines. I was going to go with them, but when they all agreed to freeze the interest ( I think pending NDL getting involved) I stopped there! PM me if you want me to tell you which companies they are