Interest

claypath

Hello
I was wondering if anyone could give advice on a letter to be sent to creditors who are still charging interest when I am on a DMP with CCCS. Is there a link somewhere on the website

Many thanks in advance for any replies
Claypath

barbiedoll

Try the "National Debtline" website here.....

http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

See section 5, "sample letters", there is a drop-down menu, see the letter for when creditors won't freeze the interest

Good luck with your DMP!

gal1961

started my dmp with cccs about 2 years ago,i thought interest would stop straight away,quite a few did but some carried on even with letters phone calls.so your debt rises.takes months or it did with me .but all interest stopped,just need to check every so often.every creditor is different

Deep_In_Debt

gal1961 wrote: »

started my dmp with cccs about 2 years ago,i thought interest would stop straight away,quite a few did but some carried on even with letters phone calls.so your debt rises.takes months or it did with me .but all interest stopped,just need to check every so often.every creditor is different

Creditors often take a while the accept the dmp but most will eventually. One of my creditors took 10 months to accept and freeze interest.

Some will freeze it for 6 months and add interest again and some will freeze interest for longer - as you say you need to check every so often.

It's not uncommon for your debts to rise when you first start your dmp.