Interest and Charges Template letters

Standingtall

Please would somebody kindly point me in the direction of the template letters that have references to interest and charges. In particular I am sure there is one that refers to the OFT or FSA stating how the creditor is not being helpful in allowing the debtor to pay off their balance???

Argghhhh:mad: I had it in my mind that most of my creditors had stopped charges and interest until I decided to make myself an additional spreadsheet today, showing inititial pre DMP blances, then the o/s balance each month.

I do know that freezing chages and interest is not guaranteed but at this rate Santander will be another million richer and I will pay them until I die.

I have already sent them the Payplan template but have had no response so intend to follow up through the contact section (internet correspondance) from my online banking, and then after a week send a follow up letter via recroded delivery. I intend to bombard them.

wannabee_in_credit

Good luck with getting this - I still have a couple of creditors charging me interest and I'd be interested to know if anything comes from you contacting them personally rather than through the dmp.
Isn't it funny how it's always banks? Natwest are the biggest pain in my backside - continued to charge me full fees and interest for 18 months.

Standingtall

Wannabe - it certainly is a pain in the butt!:mad: MBNA credit cards have been fine, the catalogues played ball eventually, and Santader loan is ok. Moorcroft Egg Loan I am monitoring as unsure and I think Barclaycard who have taken my Egg Loan are ok. It's a little difficult to monitor as many slapped on charges and interest before accepting my SOA via Payplan - I expect I shall have a clearer picutre after this.
Barcalycard have apparently passed me onto a DCA - Mercer, so intend to hunt around and see what I can expect from them;)

I certainly shall keep you updated on what happens, probably on the long haul or DMP support thread, so keep an eye out there.

The problem is that becuase my payments are so low my debt is going to increase.:mad:

Oh well, not a lot I can do about it - except bombard with letters, bombard, bombard, bombard - lol

fermi

Any help?

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=review_pack_for_people_with_available_income_to_make_payments_to_their_creditors#sample_letter_c

Standingtall

Fermi - you are fantastic, an absolute start, thank you:j

fatbelly

You may want to add a reference to the Lending Code if the creditor is a subscriber (you can check here).

This is what they've agreed to:

224.
Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties. Such reduction/suspension decision should be based upon an income and expenditure statement indicating that they are unable to make repayments sufficient to meet contractual terms. Where a customer is able to make only token payments, their debt should not increase as a result of interest and charges levied. The assessment should reflect the customer’s lack of ability to pay rather than the stage an account has reached in the arrears cycle or whether they are using free sources of debt advice. Where a firm declines to allow concessions, they should be prepared to explain why to the customer or their adviser if requested to do so.

The OFT can judge whether you are being treated 'sympathetically and positively' but you will need to refer a 'final response' from the creditor to the OFT.

178.
Subscribers should be sympathetic and positive when considering a customer’s financial difficulties.

Standingtall

Another star - thanks Fatbelly:j