frozen interest unfrozen

Robert12_2

I have been paying off my debts through a debt management plan which I set up myself. My creditors all froze the interest on my accounts to allow the debts to reduce... Two and a half years down the line, one of my creditors with whom I hold five accounts has started charging interest again making it impossible for me to repay the debt!!! Any advice?

Deep_In_Debt

Not really any advice I'm afraid. Similar happened to me recently. I guess you just have to try to appeal to their better nature. I think National Debtline website has a template letter you can use asking creditors to freeze interest.

I wrote to the creditor that started charging interest and basically said that I would stop paying them and waited for them to sell the debt on to a DCA who did freeze interest. Worth a go?

Tixy

Yes I think all you can do is ask them to freeze it again.

As you are doing your DMP you could stop payment or drop payments to encourage them to sell it on but be careful you don't cause them to consider court action.

What were the debts for? the five accounts? Have you ever done a CCA request for any of them? If they can't find a legally enforceable CCA then thats a good bargaining tool against interest (and for a reduced settlement).