Creditor and DMP?

sarah7610

Hi, just over a year ago my partner and myself entered into a Debt Management Plan with CCCS. Everything was great and we are finally managing our money and our creditors were happy until the 12 month review.
I phoned CCCS and went through the review and everything stayed the same. We got a copy of our income and expenditure and our DMP plan for the next 12 months and all our creditors were sent copies and we thought that was it for another year but then my partner started getting daily phonecalls from one of the creditors (Aqua credit card). Then we noticed that they are charging £24 interest each month because they say the minimum payment amount is not being recieved.
When my partner spoke to them they said they hadn't received a copy of our yearly review and until they did they would be keeping to the original credit agreement and charging interest.
I phoned CCCS who said that they had received a copy but they would send them another one anyway. That was 2 months ago and Aqua are still charging £24 interest which is putting the balance of the card up each month.
CCCs have advised that we write to them but I'm not sure about the best way to word it.
Any advice would be gratefully received.

Thanks Sarah

debtfreewannabe321

we're on a dmp with cccs and aqua have been like a thorn in my side from day one! They refuse to stop the interest when all 12 other creditors have and are continuing to charge us at a reduced interest rate even after letters, and phone calls to them so if you find a way around this please share!

dfw

yamsteroo

After 18mths on my DMP it is only now Santander have finally cut the interest on my debt (from 20%!) - this was after me sending many letters (mostly unanswered) but eventually they have cancelled the interest completely.

I'd also a problem with Egg initially who while accepting the payments from CCCS on one hand and putting them against my account, didn't recognise I was on a DMP on the other which took a while to sort out and while that went on they kept charging interest but we got there in the end.

It is worth writing again (and again ... oh .. and again) until you get a reply and some resolution. I'm sure they get a lot of correspondence from people in our position so it's worth pestering them just to let them know you aren't going away

debtfreewannabe321

thanks yamsteroo i think i'll try another letter (or three) as we are not paying anything off it each month. The interest is more than the payments we make (grrr)

dfw

yamsteroo

I know what you mean - at the moment, my Santander loan is a little more than it was 18mths ago when my dmp started; this is the first month there's been a reduction in capital depsite paying over £700 to them.

Do keep at them though, you'll wear them down eventually :rotfl:

barbiedoll

Write to them, keeping a copy for yourself and make sure that you send it by recorded delivery. Send it to the complaints department and write the word "complaint" in capital letters at the start of the letter.

Explain to them that you are trying to deal with your debts, that you have sought specialist help with this and that you are offering to pay them all that you can afford. You should have received a copy of your Income and Expenditure agreement from CCCS, send Aqua a copy of it.

State that their interest charges are not helping you to reduce your debt and that of all of your creditors, they are the only ones who are not assisting you to deal with your situation. Stress that you are willing to pay what you owe but that you want the DMP to be recognised and that if they do not acknowledge your letter of complaint within 8 weeks, you will be contacting the Financial Ombudsman for further advice. The threat of the FOS getting involved usually means that you will at least get a reply.

It is also worth stating that you do not wish to be contacted by telephone and that you want all correspondance to be in writing for your records. Stop speaking to them on the phone, you will get nowhere with their call centre staff, by sending all correspondance to the complaints department, you will at least have a paper trail so that if you do need to go to FOS, you can prove that you have done your best to deal with this company.

Good luck!

eyeopener2

This last reply from Barbiedoll is the key. Make your letter an official complaint, be firm and follow the complaints procedure outlined on Aquas website. If you get no joy go to the Financial Ombudsmans Service.

The only way to beat them is to go on the attack, the nice way never, ever works.

It's worth a couple of letters and then filling in the FOS form isn't it?

debtfreewannabe321

thanks i'm going to practically nick that word for word if ok! And I always send by recorded delivery now after the frist few letters were 'lost' when posted by normal mail!!! x

barbiedoll

We've all been there.....I had 3 letters to my cc company go "missing". I had absolutely no contact from them until I called CCCS to have a rant and they advised me to go to FOS. Result......I got a reply from the cc company within 2 days!

They can pull their finger out when it suits them :mad:
But....I did get the interest reduced and they've refunded a couple of late payment charges, so do feel free to use the letter!

mighty_morley

Hi, have been on a DMP for about 18 months now owing £25,000 but paying back only £134 a month!

Tonight our Barclay Loan of £12,900 was cleared for only £4,700 (an £8k saving!!!!):j we offered them 30% of our debt they couldn't accept but £4,700 is close enough!

I advise anyone to keep paying your DMP no matter what and if you are lucky enough to be given a lump sum (I was given £40k to get debt free and find a mortgage) start your offer of early settlement as low as 30%. Now I just have to wait to see what the other creditors offer and hope theres a mortgage out there for people in our situation.

:j