DMP Mutual Support Thread - Part 7

smcshane

Hi guys.
Does anyone know where I can get a template letter to send Halifax asking them to reconsider their interest to be reduced or stopped again. Just got a bee in my bonnet today as it seems so unfair that I'm being charged full interest again just because I've been working hard to increase payments. All they say is I'm now paying above min payment I don't need help anymore. I wish this was the case!
About to increase my payment again by a small amount so need to have a go at sorting.
Thanks in advance
Sx

ianmak

smcshane wrote: »

Hi guys.
Does anyone know where I can get a template letter to send Halifax asking them to reconsider their interest to be reduced or stopped again. Just got a bee in my bonnet today as it seems so unfair that I'm being charged full interest again just because I've been working hard to increase payments. All they say is I'm now paying above min payment I don't need help anymore. I wish this was the case!
About to increase my payment again by a small amount so need to have a go at sorting.
Thanks in advance
Sx

Try the letters here: http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

I think it's the 5th letter down on the dropdown list.

StartingOut

Hi everyone.

Have just been reading lots of posts after the realisation hit that we are struggling a lot at the moment. Two lots of maternity leave in 19 months on top of not really watching what we were spending has put us in a difficult situation.

I have just done the CCCS debt remedy thing and asked for the next step, so we are really having to take control.

I just wondered if anyone had any experience from the following creditors. Were they difficult to get to agree to a DMP? Did they stop interest and charges? We are not actually late paying at the moment, but are just paying the bare minimum with not a lot of money to live on (then using what we have paid to live to be honest)

Abbey Credit Card
Natwest Credit Card
Tesco Loan
Natwest Overdraft
Virgin Credit Card

Are abbey and alliance and leicester now linked? Will we have to move our bank account from A&L if we enter a DMP with Abbey.

I actually surprised at the budgets CCCS give you. It was more than we were budgeting (but also struggling on).

So if all are agreed and interest is frozen on them, I think we will be DF in about 5 years.

Thank you for all of the advice I have already read on here. It has helped us face up to what is happening.

I think my one major worry from all of this is what might happen in the future wth regards to mortgages as we will want to move at some point. Will it be very difficult to be able to get a new mortgage?

ianmak

StartingOut wrote: »

Hi everyone.

Have just been reading lots of posts after the realisation hit that we are struggling a lot at the moment. Two lots of maternity leave in 19 months on top of not really watching what we were spending has put us in a difficult situation.

I have just done the CCCS debt remedy thing and asked for the next step, so we are really having to take control.

I just wondered if anyone had any experience from the following creditors. Were they difficult to get to agree to a DMP? Did they stop interest and charges? We are not actually late paying at the moment, but are just paying the bare minimum with not a lot of money to live on (then using what we have paid to live to be honest)

Abbey Credit Card
Natwest Credit Card
Tesco Loan
Natwest Overdraft
Virgin Credit Card

Are abbey and alliance and leicester now linked? Will we have to move our bank account from A&L if we enter a DMP with Abbey.

I actually surprised at the budgets CCCS give you. It was more than we were budgeting (but also struggling on).

So if all are agreed and interest is frozen on them, I think we will be DF in about 5 years.

Thank you for all of the advice I have already read on here. It has helped us face up to what is happening.

I think my one major worry from all of this is what might happen in the future wth regards to mortgages as we will want to move at some point. Will it be very difficult to be able to get a new mortgage?

I can only really help with the Abbey CC (MBNA) who weren't too bad with me to be honest, I think they defaulted me and passed onto a DCA after about 6 months, stopping interest pretty sharpish soon.

A&L and Abbey are part of Santander now, so yes you will need to get a new bank account. Co-Op Cashminder is normally a safe bet, as they're not linked to many of the big guns (if any).

The budgets can be quite generous at the start, and I think it helps you to get used to living without credit, and to create an emergency fund if needed. If after a few months you find you are coping fine, then you can always adjust the figures.

As to the mortgage, I'm not sure. I've been with Nationwide for 7 years (who I also had a A/C with) and have renegotiated fixed rates with each time, and with no problems. You may have trouble swapping companies tho?

newbeginning_2

Startingout I've got a Natwest CC and they were great with me, stopped interest and charges straight away and not heard a peep out of them since apart from the monthly statement.

Although with some banks one persons experience can be totally different to anothers ...

StartingOut

Thank you IanMak and NewBeginnings. It does help to know that they can be okish about this.

Will have to look at a new bank account then. We do already have one with Nationwide that we could transfer everything too without having to set a new account up.

yellowpinky

Welcome StartingOut, and to all the newbies, there's been quite a few over the last week. Hope everyone is well and has managed to relax at some point over the weekend, I'm reading about all the anxiety here and there. Regarding default notices my first was from Egg, very quickly, and I remember the sick feeling in my stomach when I got it and was wondering what would happen next. Someone on this thread assured me it was all part of the procedure and it was good to get it early on as you're on the way to having interest and charges stopped. I've collected five now! As Ian said, you just file them, you don't need to do anything.

Twitty, I'm sorry you're having a worrisome time of it at the moment. At least you can say to yourself that something is being done about your condition and quickly, the sooner it's picked up the sooner it can be sorted out. Sending you comforting thoughts and a hug.

Oh well, I had a second "No" back from Gothia re: my 35% F & F offer. They were relatively pleasant in the letter and said to keep on with my payments until I'm in a position to make a further offer. I wish I had an idea of what offer they might consider though!

YPx

ianmak

StartingOut wrote: »

Thank you IanMak and NewBeginnings. It does help to know that they can be okish about this.

Will have to look at a new bank account then. We do already have one with Nationwide that we could transfer everything too without having to set a new account up.

That's ok then. Just remember to ask them to remove the OD if you have one, as you shouldn't really have any credit while on the DMP.

hitabrickwall_2

Hi all. I am going to phone CCCS again this lunchtime. I am in a horrible position as Natwest will not remove mine or my husbands name from our joint account and I cannot put it into the DMP as H will receive defaults. I cannot do a DMP without including this debt and other Natwest debts. H is going to try and pay off this overdraft but at the moment is all talk but no action.

I made token payments last month and looks like I will have to do it again this month until this is sorted out. The one good thing is in my initial letters to creditors I asked for full statements. Only two out of the eight have sent these and the rest just seem to have ignored the letter altogether. On the letter I am sending with the token payments this month I am icnluding a paragraph stating that I have previously requested this information and cannot proceed without it.

MBNA are ringing me approximately four times a day. The calls are starting at 8am and I could set my clock by them. I have explained my situation but the person on the other end of the phone repeats "Please pay £550 immediately, what is your debit card number". They just repeat this over anything I am saying so I am now ignoring their calls. They even spoke to my husband the other day and asked him for payment. Most creditors seem to have ignored my letter and are ringing, writing and emailing daily.

Hopefuilly the CCCS will put my mind at rest on a few things. I am seriously coming to the end of my tether now and so so sick of costantly worrying about money. It is going to make me ill

ianmak

hitabrickwall wrote: »

Hi all. I am going to phone CCCS again this lunchtime. I am in a horrible position as Natwest will not remove mine or my husbands name from our joint account and I cannot put it into the DMP as H will receive defaults. I cannot do a DMP without including this debt and other Natwest debts. H is going to try and pay off this overdraft but at the moment is all talk but no action.

I made token payments last month and looks like I will have to do it again this month until this is sorted out. The one good thing is in my initial letters to creditors I asked for full statements. Only two out of the eight have sent these and the rest just seem to have ignored the letter altogether. On the letter I am sending with the token payments this month I am icnluding a paragraph stating that I have previously requested this information and cannot proceed without it.

MBNA are ringing me approximately four times a day. The calls are starting at 8am and I could set my clock by them. I have explained my situation but the person on the other end of the phone repeats "Please pay £550 immediately, what is your debit card number". They just repeat this over anything I am saying so I am now ignoring their calls. They even spoke to my husband the other day and asked him for payment. Most creditors seem to have ignored my letter and are ringing, writing and emailing daily.

Hopefuilly the CCCS will put my mind at rest on a few things. I am seriously coming to the end of my tether now and so so sick of costantly worrying about money. It is going to make me ill

Please don't panic and worry too much. CCCS will help, and once everything is being setup, you will feel some of that pressure being lifted.

If you do receive any further phone calls that you choose to answer, then explain that you are starting a DMP with CCCS, and provide a reference number if you have one. Don't make any further payments, other than the tokens that you are currently paying.