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Short term PP plan - interest not frozen??
Lea74
Posts: 170 Forumite
Hi all,
Been lurking on here for a while. I have been experiencing some financial difficulties (wow, that is unique!!)and instead of trying to borrow from peter to pay paul I finally took charge of my finances, went to the CAB and did a financial statement with them. I then sent off proposals to my creditors with offers of a short term payment plans.
Everyone has accepted my terms, however only one has frozen my interest and charges. Is this normal? Is it because it is a short term payment plan. I am self managing my finances.
I am hoping I can continue to self manage and can pay all the required repayments. After paying everything my 2 sons and I have approx (depending on the month) GBP250.00 a month to live on. This is really for food and petrol and any incidentals. Not much I know but I am trying to really just get back on track within 6 months and then keep up the payments and then will be entirely debt free August 2014.
Been lurking on here for a while. I have been experiencing some financial difficulties (wow, that is unique!!)and instead of trying to borrow from peter to pay paul I finally took charge of my finances, went to the CAB and did a financial statement with them. I then sent off proposals to my creditors with offers of a short term payment plans.
Everyone has accepted my terms, however only one has frozen my interest and charges. Is this normal? Is it because it is a short term payment plan. I am self managing my finances.
I am hoping I can continue to self manage and can pay all the required repayments. After paying everything my 2 sons and I have approx (depending on the month) GBP250.00 a month to live on. This is really for food and petrol and any incidentals. Not much I know but I am trying to really just get back on track within 6 months and then keep up the payments and then will be entirely debt free August 2014.
0
Comments
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Hi Lea,
Some creditors do freeze interest and charges, while others won't. The problem in this instance though could be that it is only a short term thing. You could ask them again though and await the response.
Good luck in getting sorted out
RedIf you've nothing decent to say, perhaps you shouldn't say anything.
£2 savings jar £300:D
Total credit card debts £1250:mad::mad::mad::mad::mad: - Will I ever learn!!0
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