DMP & Mutual Support Thread - Part 9

Sazzie23

Puzzcat wrote: »

Originally Posted by Sazzie23
Hi all, back again

came across this post on the DFW forum board
http://forums.moneysavingexpert.com/....php?t=4818729

Might interest some of the readers here.

Hope its OK to post the link here






I had my interview today, it was so bizarre speaking about my debts and how I had got to where I am today with my dmp etc.. It was very theraputic, pretty much like free therapy and they paid me... I cannot stress how much mse and particularly this thread has helped me and would like all posters to give themselves a :T.

Hi Puzz

Aah thanks, glad it was useful....I think I also made a few points about how helpful MSE had been ... :beer: everyone. I didn't want to say anything as I knew you had an interview booked.

& Hi Jim

Thanks for joining in - I also have 2 accounts with same CC provider both on DMP, one charges interest & one doesn't:mad:, one has defaulted & one hasn't - still fighting this.

Jim3960

Time_to_face_the_music wrote: »

Hi Jim and welcome :hello:

Have you made official complaints about your debts which are still charging interest? If you haven't and you need any advice or help with template letters, please let us know.

it's great to hear things are going well and hop you stay out of lurkdom and visit us more often

No official complaints, if you can point me in the direction of the template letters i will make a start.

Some debt could have been paid off ages ago.

Thanks

Jim

Growurown

Sazzie23 wrote: »

Thanks HH

Good advice, eating well on a budget is still important.
Off to look at my new allotment this week....(bit scared though)

Don't worry Sazzie, there will be plenty of old boys there only too willing to give you lots of advice;):D

Time_to_face_the_music

Jim3960 wrote: »

No official complaints, if you can point me in the direction of the template letters i will make a start.

Some debt could have been paid off ages ago.

Thanks

Jim

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

Sazzie23

Evening all

TTFM thanks for that useful post, I think there will be a few letters flying about this month.
Anyone noticed DFW board seems very busy lately, we keep falling back onto page 2 !

TTFM I never noticed your signature before, very impressive numbers, inspirational, thank you.

Find_The_Real

I'm all for complaining to creditors when they won't play nicely so send off those letters if you are still being charged interest, a big thanks for TTFTM for posting the letter to adapt for your needs.

Alas a sign of the times a busy DFW board, with rising living costs and stagnant wages I should imagine many people are feeling the pinch.

Sazzie23

Thanks Find - that link is great, might even do some myself - brilliant way to cheer the place up at low cost.

At least the folk on the DFW have found the right place to get help, and we can all be grateful to MSE for a fantastic free service.

Jim3960

Time_to_face_the_music wrote: »

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

Thank you, i will start sending these out.

Jim

Time_to_face_the_music

Jim3960 wrote: »

Thank you, i will start sending these out.

Jim

Complaint part 2:


After you have sent out your complaint to your creditor(s), they have 8 weeks to respond, If they don't respond to your satisfaction, i.e. stop/refund interest, you can then take your complaint to the FOS.


http://www.financial-ombudsman.org.uk/consumer/complaints.htm


If you have already asked your creditors previously to stop interest and they have never responded, it is worth contacting the FOS immediately and they will submit a letter at the same time as yours.


Good luck and please let us know how you get on

Hopelessly_Hopeful

Sazzie23 wrote: »

Thanks Find - that link is great, might even do some myself - brilliant way to cheer the place up at low cost.

At least the folk on the DFW have found the right place to get help, and we can all be grateful to MSE for a fantastic free service.

Agreed. What's that saying about the best things in life are free


HHx