DMP & Mutual Support Thread - Part 9

Time_to_face_the_music

bmma wrote: »

Hi does anyone have the link for the template letter about freezing interest that is sent to the creditors thanks bmma

Go to this page and scroll down to section 5

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

If you want something more specific, give me a shout and I will add on of my letters here for you to cut and paste and customise

bmma

can you add one of your letters please thanks bmma

Time_to_face_the_music

bmma wrote: »

can you add one of your letters please thanks bmma

Try something like this, customising it for each creditor:

You

Date

Them


Dear Sir/Madam

Re: [Creditor name] account No: XXXXXXXXXXXXXXX

Thank you for your letter/statement concerning the above account. I am sorry that you feel unable to suspend interest/charges on the above account.

As you are aware, I/we am/are in a DMP with XXXXXXXX, reference number XXXXXXXX. The majority of my/our other creditors have agreed to the offer of payment and agreed to suspend any interest charges still accruing. They have accepted that to continue to charge interest would not assist us in my/our present financial difficulties, and can only serve to increase my/our total debt.

I/we have already paid considerable sums in interest to my/our account. If interest charges continue, the monthly instalments I/we am/are paying will not even cover that interest. Also, the cooperation of my/our other creditors who have agreed to freeze interest already would be put at risk.

I am aware that XXXXXXX subscribes to the Lending Code which states that lenders will consider reducing or suspending interest and charges if these would cause the debt to increase or lead to the repayment term becoming too extended. I would therefore be grateful if you would reconsider your decision not to freeze the interest. This would mean that the monthly payments I/we make would actually reduce the balance outstanding to your company.

Please consider this letter as a complaint about the interest charges you are continuing to apply to my account. I would like to see these stopped immediately and previous interest charges refunded.

If you are unable to help me with this issue, I will have no alternative but to take this case to the Financial Ombudsman Service.

I look forward to hearing from you as soon as possible.

Yours faithfully

You

Suseka

Good morning all,

Thanks for that letter TTFTM, have saved that ready for when I have to nudge creditors to be nice

It's another lovely sunny morning, if a little chilly, which cheers my mood no end. I have my creditor letters with May's token payments ready to send tomorrow and I expect the first 'late payment' warning to arrive in the post by the end of the week - eek.

OH is still getting calls from one or two of his creditors on his mobile - but he knows the numbers now so just cancels the call. Once the DMP is up and running he will deal with the calls and ask them not to call any more. His creditor letters were sent over a week ago, and 3 out of the 6 token payment cheques have been cashed.

Not sure what happens next with SC - sent the agreement letter off on Monday - so will I get some sort of confirmation from them or something to let me know when its all set up?

Growurown

Morning all. Just read this article on the BBC website regarding eating for a £1 a day and a link to a blog by a young woman call Jack Monroe on how to eat cheaply. Thought it might be useful if you are trying to cope with a tight budget on food.

http://www.bbc.co.uk/news/business-22263706

bmma

Thanks TTFTM, hopefully all paperwork now done , ready for the next step it printed off with no problems, thank-you

Hopelessly_Hopeful

Suseka wrote: »

Good morning all,

Thanks for that letter TTFTM, have saved that ready for when I have to nudge creditors to be nice

It's another lovely sunny morning, if a little chilly, which cheers my mood no end. I have my creditor letters with May's token payments ready to send tomorrow and I expect the first 'late payment' warning to arrive in the post by the end of the week - eek.

OH is still getting calls from one or two of his creditors on his mobile - but he knows the numbers now so just cancels the call. Once the DMP is up and running he will deal with the calls and ask them not to call any more. His creditor letters were sent over a week ago, and 3 out of the 6 token payment cheques have been cashed.

Not sure what happens next with SC - sent the agreement letter off on Monday - so will I get some sort of confirmation from them or something to let me know when its all set up?

Off the starting blocks proper then!

Confirmation can take a while but will likely be set up.

You can go to the DMP login page and press forgot password. It will take you through some security checks then you can see your DMP account ready online.

Hope that helps

HHx

Suseka

Yes it does, thanks HH

Hopelessly_Hopeful

Suseka wrote: »

Yes it does, thanks HH

Have you tried it, are you on?

HHx

Jenjen

Hello everyone.

I found out this week that HSBC had started charging me interest on both our overdrafts again in January and for the last 3 months they have been adding interest that is more than our monthly DMP payment to them. We've not had a statement from them since October so I only know about it because I logged on to check everything was still going smoothly.

Anyway I emailed them through secure messaging politely asking them to stop and to consider refunding the interest since January and mentioning that I would turn it into a formal complaint if they continued to charge this unfair rate. The only reply I've had to my message was an acknowledgement saying they will investigate and a garbled message on my answerphone asking me to ring them which I think was from them but she spoke so fast I couldn't tell a word she was saying.

Today I logged on to check if they had added interest for April now as well and was surprised to find that on Friday they refunded all the interest they have added since January. That was amazingly easy! Lets just hope they continue to play ball now!