DMP Mutual Support Thread - Part 7

powerchimp

Its a week since I have my LBM and to begin with I was happy that I'd finally confronted the problem.

Its been a mixed week; what with trying to set up a bank a/c (still waiting on this ) and getting the initial paperwork through for the DMP

One question about making token payments before the DMP is set up; should I be informing the creditors that I am going on a DMP and that is why I am only paying a token or should I just pay the token until the DMP is set up.

Cheers

PC

ex-rayday

I would use the template letter of the National Debtline website:

1 High Street,
Newtown,
Kent
R21 4RH

July 15, 2010

The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG

Dear Sir/Madam

Re:- Account/Reference Number 4563210025897412

We are writing to inform you that we are seeking advice and assistance regarding our current financial difficulties.

To this end, we would appreciate if you could hold any action on the above account for a period of at least 28 days.

Also, during this period, could you please freeze interest and/or any other charges accruing on the above account.

We look forward to hearing from you as soon as possible.

Yours faithfully

Mr A N Other

But add into that a line about please accept in the meantime a token payment of a £1 or whatever you are offering.

mozzyc

Hi

They are under no obligation to freeze interest. I would try and get it done yourself rather than rely on CCCS. Some freeze interest straight away, others could takes months/years before they do. You've just got to keep at it until they do really. Use the templates for freezing interest. There's quite a few around. Here's one:

I am writing to request that all interest and charges on the above accounts are frozen. This would give me the opportunity to
clear my debt within a reasonable time frame.
I would be grateful if you could contact me with a response to this letter.
May I take this opportunity to thank you for your continued support in what would otherwise be a very difficult time for me.
Yours faithfully

~evanesco~

Is it true that if a creditor issues a default notice, they can no longer charge interest?

greygirl61

Hi there

i have been trying to find a way to get 2 creditors (Barclaycard and MBNA)out of a total of 8 to freeze interest without any joy so far.

The ones that have done this have usually sent us a default notice and passed the debt to debt collection agencies. We don't mind if they do this as but looks unlikely at present.Natwest and M&S financial services aren't charging us interest.

Good luck!

ianmak

~evanesco~ wrote: »

Is it true that if a creditor issues a default notice, they can no longer charge interest?

I don't believe so no. However, some creditors say they have to issue a default, before they can stop interest. Part of their procedures I believe.

the_tooth_fairy

OH and I have both had many default notices from RBS and they are still charging interest, albeit at 'lower' rates.
Received a letter yesterday from my RBS Visa ( I sent a letter asking them to freeze interest) stating that they had moved my 'complaint' to Stage 2 of their procedure. It could take 4 weeks+ to have any resolution, but will let you know how I get on. I don't think there's any point in OH chasing up his until we find out what they are doing with my RBS. Am not very optimistic, though.

Ellieseleven

I have just submitted my details to CCCS after going through their debt remedy, this has been a huge step for me but this site and the people on here have inspired me to do this and I just want to say thank you to everyone. You have all helped me whether you know it or not!

Do I need a member number now to join this thread?

mozzyc

Ellieseleven wrote: »

I have just submitted my details to CCCS after going through their debt remedy, this has been a huge step for me but this site and the people on here have inspired me to do this and I just want to say thank you to everyone. You have all helped me whether you know it or not!

Do I need a member number now to join this thread?

I'm sure Ianmak will sort you out with one!

Triggles

May I just mention, once again, that Moorcroft is driving me insane??! They send a lovely threatening letter regarding our Tesco loan from their "pre-litigation" department, saying we're ignoring them and that they may (yes, may) take us to court, and that they've had to confirm with a "major utility" that we still live at this address. Well, um... since we've been in constant contact with Tesco regarding our loan, making monthly payments (albeit reduced), and just recently checked base with Tesco to check the status of the account (which, again, they can't just say "we own it, but moorcroft is acting as DCA" they have to say it so that we aren't quite sure who owns it - so have to demand clarification AGAIN, and then they say they'll let moorcroft know to contact us). So Moorcroft should rightly know that we are at this address. Extremely aggravating. I am going to write a cross letter tonight to both places and insist that it is spelled out who precisely currently owns this debt. If it is Tesco, we will send payments there. If not, fine, but we have a right to know in clear language what is going on with our account. (can you tell I'm reaching boiling point with some of the purposely confusing language used by these creditors?) I am sure they do it to keep customers who are in debt in a panic so they will agree to anything to settle things down. Arrrrggghhhhh

And our washer is broken and we have to replace it. Not a good day.