Barclaycard

dmp_2

Hi
I have been on a DMP with CSSS for a year now and making great progress (52k at start).Just had a letter from BCard who had agreed 0% now saying that this is increasing to .25% monthly from 8th Sept (bal £5318.87).I realise that they can do this is it worth challenging them? have 8 other creditors if they all start doing this then its going to be a tough slog...(Still battling with Bank Of Scotland (sainsbury cc) who have refused to lower Interest charges from day one) paying £590 a month on the DMP and want to clear my debts but these companies are just not in the real world !!
Very Dissapointed and Disalusioned

MyLastFiver

Yep - Barclaycard turned the screws with me recently too and started charging interest at that rate. I got nowhere complaining.

Bank of Scotland - do you mean HBOS or RBS? If HBOS, their in-house DCA (Blair, Oliver Scott) are one of the best DCAs I've dealt with. Stopped interest, didn't chase, polite and understanding phone staff, generous F&F offer. I don't know what you could do to get your account transferred to them. Stop paying them? It's a risk but if your payments are being completely offset by their interest charges then you'll never pay the capital off so what's the point.

Luckily I recently came into some money and was able to clear my debts in full but I'd always said that I would stop paying any company that charged me full interest. You risk a CCJ but this is not necessarily a bad thing given 1. your credit rating is shot anyway and 2. the judge will set your payments at an affordable level.

Fortunately I never had to go down this road but I suspect that, if you just stop paying them, you will be referred to a DCA who will stop interest BEFORE any legal action.

dmp_2

Thanks for the reply was Bank of Scotland not RBS (assume HBOS) will keep battling !!