Simply Be / JD Williams Repayment Plan - Pointless.....

Corinna82

Hi Guys,

I'm new to this forum but need some advice regarding the handling of Simply Be and their pointless repayment plan! :mad:

Basically I became disabled in July 2012 and I can no longer work. My husband and I recognised our debts and that both total monthly income (now a lot less) was not enough to cover my minimum repayments on my credit accounts.........sooooooo I organised repayment plans with all of them, everyone of them accepting a reduced payment AND reducing the interest to 0%!!!!! I should have 3 of 6 accounts cleared and closed by Christmas

But....

Simply Be's offer?

£60pcm (charging £50pcm interest....) on an £1800 debt - I'm paying off £10 a month and it will take me 15yrs to pay off if kept the same.

I spoke to them and begged them to help more, at least drop the interest rate and they politely refused with a comment included of "we are a business" :undecided

I'm looking to complain to them first and then likely pass it onto the FOS.

Is their any way I win this one?

michael1983l

Corinna82 wrote: »

Hi Guys,

I'm new to this forum but need some advice regarding the handling of Simply Be and their pointless repayment plan! :mad:

Basically I became disabled in July 2012 and I can no longer work. My husband and I recognised our debts and that both total monthly income (now a lot less) was not enough to cover my minimum repayments on my credit accounts.........sooooooo I organised repayment plans with all of them, everyone of them accepting a reduced payment AND reducing the interest to 0%!!!!! I should have 3 of 6 accounts cleared and closed by Christmas

But....

Simply Be's offer?

£60pcm (charging £50pcm interest....) on an £1800 debt - I'm paying off £10 a month and it will take me 15yrs to pay off if kept the same.

I spoke to them and begged them to help more, at least drop the interest rate and they politely refused with a comment included of "we are a business" :undecided

I'm looking to complain to them first and then likely pass it onto the FOS.

Is their any way I win this one?

I do not know if this is good advice but I would stop paying them and hope they file for a CCJ. Have your day in court, explin to the judge your income and expenditure and have the judge set the payment rate. This will be for the original debt + 1 months interest + a reasonable default fee + potentially 8% compound interest. That would probably work out far cheaper for you than what they are offering. Of course it would mean getting a default and a CCJ on your file though.

fatbelly

This behaviour is against The Lending Code but unfortunately JD Williams don't subscribe to it.

Any idea when the account was first opened? Pre-April 2007 by any chance?


If you do stop paying, the most likely outcome is that they sell the debt to another organisation.

cc4rhu

Personally I'd drop the payments to £1 to force them into action. They will either then agree to your requests, sell the debt again, or take you to court for a CCJ where the interest is frozen and the court will be more sympathetic which is expensive for them so really is a no. Write to them explain g that they've put you in this position by being unreasonable unlike the other creditors.
It worked for me. I got my interest frozen after about 2 weeks of threatening letters. Stick to your guns.