Natwest and DMP?

makemedebtfreeplease

I am trying to decide whether do go down the dmp or iva route - was thinking iva as all interest/charges have to be stopped but dont like the idea of it affecting our house.

So, our biggest creditor is Natwest and if they stop interest and charges when on a DMP I think it wouldnt really take much longer than 5 years to clear anyway

Has anyone had dealings with Natwest? Do they usually stop interest/charges when on a DMP, tbh I would be surprised if they did as until recently we banked with them for years and they have never helped us with our financial difficulties - when it was snowing earlier this year our account went o/d by £5 and when I rang them they said that if I didnt pay in to cover that day then they would be charging us and returning dd unpaid so me and 2 dd had to walk for 90 mins there and back :mad:

kiwikaz

Morning,

I'm on a DMP with CCCS and have a credit card with Natwest. Interest and charges have been stopped. Having said that we banked with RBS who're linked with Natwest and have OD's on 2 accounts and neither charges or interest have been. When last speaking to their collections dept they told me that they dont look at stopping charges until the DMP's been running for a year ! So we've still 4 months to go to see what happens !

Check out all your options if you've not already done so with CCCS, CAB or NationalDebtline . I may be wrong but I believe that if you begin a DMP you can switch to an IVA but not the other way round.

We're desperate to clear our debts asap but in our circs the IVA route for us may have been too tight for us to follow.
Good luck.

Karen.