asking a credit card to freeze interest

westiedog

twinkley

Payplan have been really helpful. Howver when you contact them now they seem very overworked. xxx

ollyloosemore

I had reasonable success with MBNA, I managed to get a six month payment freeze out of them, without them adding interest. And then when I called back at the end of that 6 months, they halved my interest payments. I've heard other horror stories about them though

workingmumoftwo_2

I've had no joy with anyone freezing interest at the moment. I am now getting deeper into debt beacause they are adding interest, late charges and default charges. Mint have said today that my account will now be terminated and they will then freeze the interest. Things are really getting me down but I am trying to do my own DMP so I have control. Am speaking to CCCS for advice who are great but its the constant phone calls that do get to me. Barclaycard are the worse so you could be in for a long haul but you do need to stick to your guns as many of them are bullies. Hope this is some help!!

innapickle_2

hi all
I started a dmp with cccs in may, before this i was doing the token payment thing as advised by the cccs. mbna was one of my creditors. none of the companies ever acknowledged my letters and even when cccs stepped in only 2 made the effort to contact me. i was told none of the others formally accepted. however interest and charges did stop on my credit cards :Tincluding mbna(virgin) but recently i have been getting calls and letters only from them so far, saying if i pay £1000 + they may be able to consider (note the consider bit!!) writing the rest off. Since i have no way of getting this money i dont have the option of doing anything other then carry on with what im doing now. The latest letter was yesterday and again they say im seriously in arrears and my debt will be legally assigned to debt collectors unless i pay the above then they,ll consider writing off OR alternativly accept their reduced payment plan ( i dont know what this is yet as i havent plucked up courage to phone them) if i dont accept their payment plan then they will be adding interest and default fees! immediate effect. sometimes i feel whats the bl'''dy point of trying. its only been 3 months. Still,dont be put off by trying (anyone whos reading this)
its only me having a moan and a bit of an anxiety moment! Good luck twinkly and everyone else.
xx
ps when i do phone them i,ll let you know what their alternative plan is!

Bad_Weather

Does asking to freeze interest affect your credit rating??? This may seem a silly que but erm.... im still new...

innapickle_2

hi hayzey
i dont know myself, im sure someone here will help, or try the cccs advisor thats on this site somewhere, just as a personal thought tho, i get the impression by the letters i get that at the moment my credit rating hasnt been affected up until now (so they,ve given me roughly 8 months) but when they start saying things like letter i got today says " a default will register for six years blah bla and this will hinder your ability to gain any form of credit in the future"maybe once the default is in, or debt handed over then thats when the credit rating changes?? as i say thats just my thoughts not fact, just thinking:think:
byeeex

gargrave50

Hezybaby wrote: »

Does asking to freeze interest affect your credit rating??? This may seem a silly que but erm.... im still new...

Generally speaking entering into a DMP self managed or otherwise will trash your credit rating unfortunately:rolleyes:

Bad_Weather

Thanks Guys!!!

gargrave50

Any results yet - anyone?:)

innapickle_2

hello all
plucked up courage and phoned mbna for their alternative plan.goodish news it was £35.00 only £6. more than i pay. so i phoned back later and upped my monthly payments to their offer. i feel a bad not waiting to hear from ccs first but i do panic sometimes. saying that the people seemed ok very charming! :huh:that just made me suspicious! ive notified the cccs so i expect to do another budget sheet so i can offer the others a little more too. i must admit i have lost my nerve a bit and luckily i managed to up my income this year but im not going to go mad and make promises i cant keep cos im self employed so it can all change easily too for the worse. one thing they did say was something about charges. the women said they have suspended charges (great methinks) but then she said their total at the moment is £700+ arrears and what i understood her to say is they wipe the account but the charges will have to be paid after the debt is paid? does that sound familiar to anyone here? if not i,ll ask cccs what she ment. why didnt you ask her i hear you cry yes why?