DMP and balances owing

Toastandmarmite

Hi there,

I've posted a few times about my situation in the past, but have chronic health/ disability issues that seem to hamper me when I start feeling confident and able to cope with being more active - but I figure that if I am feeling that way I should try and do something proactive about my debts.

I am on my third year of a DMP and am at the point where what I have paid off of the balances I transferred over to CCCS is actually quite considerable, but CC companies and hte bank being as they are they've continued to add interest and in some case charges. In most cases I've managed to stop them adding further charges, but as my payments are now over the minimum nearly all are adding interest.

I was wondering if there were any sample letters - or if anyone could help me to draft a letter to each organisation (I can't think of the right word, sorry) explaining that I'd like them to take into account the amount paid off the original debt and consider reviewing the charges and interest they have since added. Is this just pie in the sky? As otherwise I feel like I'm going to be paying this until I die.

I know that if the letter doesn't work, I can go to the ombudsman to get them reviewed, but I'm not sure how to go about doing that, or what process I need to go through to get to that point, so would really appreciate some help and pointers to get me at least facing in the right direction so I can start heading that way.

Thanks in advance
T&M

Tixy

Hi Toast

There is a letter on national debtline that might give some basic help, although you'd need to amend and add in a little extra for what you describe above
http://www.nationaldebtline.co.uk/england_wales/temp/2440_71311.pdf

Have you ever tried reclaiming back charges levied on the credit cards?
Some people have had successes in 'encouraging' creditors to freeze interest by looking at the 'unenforceability' route, can't recall if you've looked at this in the past.

(creditor is the word you were after;) - well unless you were looking for a suitable swear word to call them by!)

Toastandmarmite

Hi Tixy,

Thank you - yes creditor was the word I meant, although some choice swearwords to fill the gap quite appropriately too.

That letter is ideal, thank you. I'll copy and paste it into Word and then send letters off to them tomorrow (as that way I can print them out at work, not because I'm procrastinating).

I haven't tried claiming back charges or talking about unenforceability - could you point me somewhere that explains those as I'm not entirely sure how to go about claiming them as I find it a bit bewildering. I hate to sound stupid, but I do struggle a bit with financial jargon (part of what got me in this mess really)

Thanks T&M

Tixy

The first couple of page of this thread explain about the unenforceability issue http://forums.moneysavingexpert.com/showthread.html?t=2060575. It can seem quite daunting by never-in-doubt has done a step by step guide and explained the possible implications etc, if you are unsure of anything post on that thread and he will help you. He's even put in a jargon buster on the first post!

With regards to reclaiming fees there is a seperate board for that - http://forums.moneysavingexpert.com/forumdisplay.html?f=102 you should see the 'step by step guides' section towards the top of the page. I would concentrate on the credit cards initially (the bank charges case is all a bit complicated and up in the air at present), the guides will walk you through finding out how much you have been charged and then working out if you are due a reclaim (you can go back up to 6years, so sometimes the amount can be considerable).