Interest still paid to one creditor

Mr_sparkles_2

Hello

I am in a DMP and have 8 creditors, all cards. I have cleared 15k and owe about 19k. My monthly payments are double what they were four years ago, when it started after divorce and I can see the amounts coming down; except for Marbles. They charge interest and out of £107 paid to them each month, interest takes about 80 of it. Ive asked the management company what can be done, but they say nothing. It's a free DMP plan. Can I write to the creditor?

All of the others are reducing fast and now this one is almost a third of the entire debt o/s.

Tixy

Yes you can write direct to the creditor asking them to reconsider freezing interest - there is a template on the letters section of the free national debtline website you could use as a starting point.

It does sometimes work.

Time_to_face_the_music

Have you even spoken to the FOS about this? They are extremely friendly, helpful and efficient. They got one set of Lloyds TSB interest stopped for us and we even got 2 months interest paid back.

The phone call is free so you have nothing to lose and the possibilty of a lot to gain. Give it a go

happy_bunny_2

Send Marbles a CCA request. Don't have mine from 2003. May help focus their mind on your request if they dont have it. Had to complain to find out they didn't have it as they never responded to my two requests.