Some advise on self DMP CAPITAL ONE AND INTELLIGENT FINANCE NOW HALIFAX

Jobo1502

Hi wonder if anyone could help me as I'm new to this. After burying my head in the sand and robbing Peter to pay Paul I have finally made a SOA. After initially intending to go with StepChange I have found that 3 debts out of six who I have contacted have agreed a plan direct. Barclays who I have 1 account and an inherited egg account have frozen interest for 12 months on both. Virgin have agreed a monthly payment for 5 years and froze interest although told me it will appear on my credit file for 11 years as it's policy 6 years after I finish paying to appear on my credit file (can anyone confirm this). Called capital one today but they won't help me as yet as I have not defaulted on any payments. They are going to send me a self help pack out and I am going to have to provide bank statements which none of the others have asked for? Any advise on this would be welcome. The other 2 are Halifax originally Intelligent finance who I owe a whopping 14k to paying 138 approx a month but interest roughly £60 a month as got a life time interest rate concern is if they freeze for a 12 month period will it go back the the normal rate of interest which would crucify me? Again Tesco with special rate life time interest so paying around £42 month on a 5k debt.

Any help/experience really appreciated

happy_bunny_2

I would be very wary of Virgin. Personally, I would rather default on the payments then set up a payment plan as it will be gone from credit report after 6 years.

I would talk to step change or national debtline as they have self managed DMP help info.

If the debts (not overdrafts) were taken out before April 2007 then there are other routes to making sure you don't get screwed over. No CCA, no CCJ, in simple terms.