DMP & Mutual Support Thread - Part 8

GibbsRule_No3

Has anyone managed to win a complaint about how much Barclaycard charge in interest, by lodging a complaint with BC or the FOS? I have always paid more than they need per month but when I ask them to stop the interest, all I get is that they have reduced it. Which is true. But the remaining debt with them is now more than a third interest. By the end of the debt the interest will be paid on the interest :mad: They also told me they would not make me ANY offer for a F&F settlement. I guess ths might be good for a complaint with the FOS, because I would think that even if it was for 99.9% of the debt they should offer something. Not that I have the money now, as I used theiir share to settle with M&S.

antonic

I get the same on the (infrequent) credit card statements I get from HBOS.

It quotes the % APR, but in the interest accrued part of the statment it says £0.00.

So you arent being charged interest.

btw how did you get on with HMRC and did you get my PM ??.

bertman wrote: »

Good news alert...

After feeling a bit down yesterday the post turned up. There was the usual HSBC statement, but what a turn up... They have refunded over £275 of interest.
The strange bit is that the statement still shows interest at 29.9% but the field for that part of the statement shows £0.00 and only the refund and my SC payment are transactions for the month.
I took some advice from here and wrote to them asking for the letter to be lodged as a formal complaint, they did ring me and ask yet again for the SC details but I told them they had had this 6/7 times already, then I heard nothing until yesterday.
It just shows though the highs and lows of living on a DMP...

Thanks everyone - I updated my spreadsheet within about 5 min's of getting the statement!!

Mossop01

Great news bertman onwards n upwards!

Julie67

Great news Bertman, HSBC are our biggest creditor so it will be interesting to see how they deal with us.
Won £10 on the lottery last night:eek: good news as every penny is going to count this week. First week with the new budget and no credit so it will help.
I've cut our lottery to £1 a week I just couldnt bare it if my birthday numbers came up:o
Just nipped to B and Q with dh for some work bits. Saw a lovely lamp. In the past it would just have gone on the credit card no thought given really but didn't even think about buying it.
We really are changing our mind set. We were both hungry and the coffee in the cafe smelled delish. But we both said let's wait until we get home. In the past we would have just gone in and had what we wanted. I know only little things but a huge change for us.
Thinking about every penny as opposed to having no idea were your money goes means you really do consider every penny.
Have a good Sunday all J

Hopelessly_Hopeful

bertman wrote: »

Good news alert...

After feeling a bit down yesterday the post turned up. There was the usual HSBC statement, but what a turn up... They have refunded over £275 of interest.
The strange bit is that the statement still shows interest at 29.9% but the field for that part of the statement shows £0.00 and only the refund and my SC payment are transactions for the month.
I took some advice from here and wrote to them asking for the letter to be lodged as a formal complaint, they did ring me and ask yet again for the SC details but I told them they had had this 6/7 times already, then I heard nothing until yesterday.
It just shows though the highs and lows of living on a DMP...

Thanks everyone - I updated my spreadsheet within about 5 min's of getting the statement!!

You waited 5 minutes? What took you so long?!!! Brilliant news, very pleased for you.

HHx

Hopelessly_Hopeful

GibbsRule_No3 wrote: »

Has anyone managed to win a complaint about how much Barclaycard charge in interest, by lodging a complaint with BC or the FOS? I have always paid more than they need per month but when I ask them to stop the interest, all I get is that they have reduced it. Which is true. But the remaining debt with them is now more than a third interest. By the end of the debt the interest will be paid on the interest :mad: They also told me they would not make me ANY offer for a F&F settlement. I guess ths might be good for a complaint with the FOS, because I would think that even if it was for 99.9% of the debt they should offer something. Not that I have the money now, as I used theiir share to settle with M&S.

Hi Gibbs

I complained several times as they try a hike up every year. One one account I have 12.9% and the old Egg account is now 0% again. You do have to give them a wee nudge in the conscience area every now and again.

Good luck

HHx

Hopelessly_Hopeful

Julie67 wrote: »

Great news Bertman, HSBC are our biggest creditor so it will be interesting to see how they deal with us.
Won £10 on the lottery last night:eek: good news as every penny is going to count this week. First week with the new budget and no credit so it will help.
I've cut our lottery to £1 a week I just couldnt bare it if my birthday numbers came up:o
Just nipped to B and Q with dh for some work bits. Saw a lovely lamp. In the past it would just have gone on the credit card no thought given really but didn't even think about buying it.
We really are changing our mind set. We were both hungry and the coffee in the cafe smelled delish. But we both said let's wait until we get home. In the past we would have just gone in and had what we wanted. I know only little things but a huge change for us.
Thinking about every penny as opposed to having no idea were your money goes means you really do consider every penny.
Have a good Sunday all J

There's a thread here somewhere that says every penny a prisoner. We certainly learn alot here dont we!

HHx

Freshstart2012

Time_to_face_the_music wrote: »

That is brilliant news Bertman! :T

I know I harp on about it but if anyone else has a creditor who is still charging them interest, try an official complaint. If that does not work, take it it the FOS. We don't always win but sometimes we do. so it's got to be worth a go :j

It's well worth it as I am pretty sure that it costs the company £500 each time a complaint is raised against them at The FOS

Time_to_face_the_music

Indeed it does

Julie67

Morning all,

I feel strangely calm this morning. All the paperwork for the DMP will go off today which is a bit scary but also positive .
So our DMP starts in March but I have a dilemma.
We found out at the weekend that dh is due a tax refund of £1300. Which is great news but just not sure the best way to use it.
These are my thoughts
We are just under a month behind with the mortgage and have a payment plan in place to pay an extra £100 a month as part of our DMP thinking we should pay the arrears off straight away so an extra £100 a month can be directed towards the debt.
Put the rest to one side as an emergency fund as we don't have one
Or put the rest towards saving for a car as my crb should come through any day and I will need to get to work and back. Our income will increase a lot once I'm working and we should be debt free so much more quickly, but we can manage with dh dropping me off and picking me up although its not so convenient, even with the car costs we will have much more to throw at the debt every month.
What do you think, stick with one car for now?
What do you think? Thanks J x