DMP and MBNA advice needed

jenevieve

Dear All,

I am currently running my own DMP. I was with CCCS for a while which was very helpful and got the ball rolling. After a year, an experienced friend gave me lots of support and help and I left CCCS.
The upshot is my debt has been drastically reduced from an £53,753 :eek:

My current debt & payments are as follows:

A&L current acc overdraft - 179.58 Payment - 20.00
Barclaycard 3633.18 Payment - 84.00
RBS - 1200.34 Payment - 28
Northern Rock loan 16,539.60 Payment - 236.28
Next - 180.64 Payment 26
MBNA 5079.15 Payment 105
A&L CC 1999.47 Payment 68

Total debt - 28811.96 Payments - 567.28

All except MBNA & A/L CC (also MBNA) have stopped interest. N/Rock completely restructured the loan, repayed PPI (which I used to reduce the debt further) and the new loan is structured on 7.9%.
Despite numerous letters, MBNA will not freeze interest. They have reduced interest to 12.7%. I am able to meet the minimum payment every month (not taking arrears into account). What I am unable to do is clear the arrears which are approx £1000 split between the two accounts.
I am getting notice of arrears but they have not defaulted the account.

I am very aware I am in a much more fortunate position than many, as I do not have any dependents or a mortgage. I am just wondering if there is any more I can do in regards to MBNA as I lose about £70 a month in interest.
I am pleased with my progress but know that my spending could be curtailed which I am in the process of doing.

I am not sure what, if anything, to do. I can snowball but even with that, will not clear the arrears.

Any help gratefully received.

jenevieve

Quick bump....I know this thread moves quickly..
Any advice appreciated

Jen x