Without a paddle... support for anyone starting a DMP in 2010 (part2)

chocolates

Hi everyone
Just a quick question.....Im on a dmp with cccs and one of my creditors is Nationwide. I owe them £300 (overdraft on current account) and my monthly payment to them is around £7. But i have a savings account with them and just wondered if i start paying a small amount into this each month, will they take it automatically to pay my overdraft??

eyeopener2

Chocolates

Yes they may do that, its just not worth the risk.

you can open a savings account anywhere so I wouldn't personally use your Nationwide one. They, Nationwide, will also see "extra" money coming in so they may not play ball with the DMP.

Don't risk it.

E2

Hopelessly_Hopeful

I agree with E2

Hope everyone ok and managing the long long long haul of January!

HHx

mikon

eyeopener2 wrote: »

I'm still waiting on a reply from barclaycard to my complaint on exactly the same issue Mikon. I know they have "so" long to reply but i'm not sure exactly how long.

Your new interest rate isn't 6.9% by any chance is it?

E2

Eyeopener

Interest is being charged at 0.36% I think. As for the period they have to respond my understanding is they have to respond within 6 weeks but I am open to challenges on that.

I suspect that they agreed to stop interest for 6 months and CCCS did not send a copy of my SOA at the 6 month stage so they re-instated. I have asked CCCS to send a SOA and ask for interest to be stopped but do not have much faith as CCCS never get back to you and update you on what has happened that is my own criticism of CCCS they are very poor at communicating with you once the DMP is set up.


Good Luck.

chocolates

Ok thankyou,i just like the nationwide one because its a passbook account
Ive had to pay a cheque into it for £40 because we had a council tax refund and it was in joint names and the only account we have in joint names is at nationwide. Does anybody else know where i can get a passbook savings acount please?

eyeopener2

Hi Choc

Most Building Societys do pass book accounts as does the Post Office. PO maybe boring and traditional but it could be worth it for a safety first approach*.

Disclaimer - This in no way constitutes financial advice as i'm cr&p with money. :rotfl:

If you have a local Building Society, try that. I think Santander do one as well but they are the Devil incarnate.

E2

Hopelessly_Hopeful

eyeopener2 wrote: »

Hi Choc

Most Building Societys do pass book accounts as does the Post Office. PO maybe boring and traditional but it could be worth it for a safety first approach*.

Disclaimer - This in no way constitutes financial advice as i'm cr&p with money. :rotfl:

If you have a local Building Society, try that. I think Santander do one as well but they are the Devil incarnate.

E2

Expert in training (advanced) I'd say!

G'nite all

HHx

Hopelessly_Hopeful

I've just updated my DMP spreadsheet. I have 12 creditors, one due to finish in August. Four have notched down into lower thousand this month, that's a good feeling! Does anyone else find it helpful to monitor milestones?

Hope everyone is well.

HHx

newbeginning_2

According to the CCCS website, after my next payment I'll only(?!) have 50 payments left. If things don't change too much of course.

makemedebtfreeplease

Has anyone had any luck getting Barclaycard to stop interest, we are on a dmp with cccs and dh bcard not having interest charged (owes about 6.5k) but my one is still having interest and charges added (owes about 1.5k). Is there a template letter anywhere that we could use? Thanks