Interest on arrears

Lulabulubop

Hi,

Can anyone help me please? Since my husband losing his job and me being made redundant our income has diminished drastically (we're both in work again, but earning a quarter of what we earned previously). When his work stopped I started to put arrangements in place with my creditors and by the time I got to the last one he had found work, so I didn't bother setting up an arrangement with them and continued trying to pay it off. Now I have been made redundant and am earning less than a quarter of what I earnt previously I am having to re-visit the old arrangements and make an arrangement with Marbles (the one I didn't arrange anything with before).

My other creditors have frozen interest (they are mostly with outside agencies and have been very helpful in the past) but Marbles are saying I will still accrue interest. They say it's because they are a high rate credit card (they weren't when I took it out but since then we got into difficulty and I couldn't transfer when they got taken over and racked the rates up).

Now I know I am in the wrong for accruing the debt in the first place, but it seems wrong that when we are in so much financial hardship that I don't know when we can do the next food shop / scrape around finding pennies to buy nappies that this rolling in it company can take the proverbial even further than they have been doing (with their 29% interest!!!). Do I just need to roll over and accept they are just going to fleece me further or is there something I can do about this?

nottoolate

they don't have to freeze interest

the only way to force them would be this

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=06_time_orders

You may want to ask for a time order if an arrears notice or a default notice has been issued but the creditor is refusing either to accept your offer of payment, or to freeze the interest. If interest is still being added on to the debt and the creditor refuses to take court action then applying for a time order may be the only way to ask for the interest to be frozen. If the court makes a time order and you keep up to date with the payments, a creditor cannot apply for a county court judgment to be made.

bit of a last resort though