Short term PP plan - interest not frozen??

Lea74

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.

bottleofred

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

Red