DMP & Mutual Support Thread - Part 10

Bettingmad

Sample Letter

[Your address]


[Their address]

[Date]



Dear Sir or Madam

Account No/Reference No: XXXXXXXX

Since making our previous agreement with you, my circumstances have changed considerably, resulting in my not being able to continue with the agreement previously arranged.

I cannot now afford the previously agreed monthly payments because [your reasons added here]. I have contacted Stepchange who are working with me in my financial difficulties.Reference No. xxxxxx

In view of my current situation, would you please accept a token offer of £1.00 per month to be reviewed in X months? If interest or other charges are being added to the account, I'd be grateful if you would freeze these so that the debt does not increase. Should my circumstances improve, I will contact you immediately. In the meantime, I'd appreciate it if you could send me a paying-in book / standing order form to make it easier to pay.

Thank you for your assistance, I look forward to hearing from you as soon as possible.

Yours faithfully,

Sazzie23

Kate_fixing_it wrote: »

ell I have good news to report! I suspected I had but now it's official. I've cracked budgeting!



Most people won't get what a milestone this is for me. I have NEVER stuck to a budget before. I have been in debt my entire adult life in one way or another and that's 18 years! So while I can't put a figure or statistic on this particular milestone I wanted to share and celebrate it here with you all because, well, you lovely people will understand.

Kate x

Totally totally get it, and what a fantastic feeling. :j probably count as another LBM if you wanted to?

I still enjoy putting fuel in the car and not worrying about if there is money to pay for it:T


To Alyxzandra, sorry for your loss, and at this difficult time don't feel pressured into making decisions if they don't seem right.

Hopelessly_Hopeful

Well done Helen and Kate

HHx

City1

Hi,


We have just started getting replies back to letters for offer of payments, at the moment MBNA have accepted and frozen our interest. I think TSB, B of S have accepted, are not charging further interest but they mentioned something about historical interest (or something like that). They have told me that I have to cancel some dd's for example utilities, I can't understand why they would ask for this.


HSBC have not accepted my offer, they want to speak with me with regards it and I need my SOA to hand, what difference does that make as I am only going to give them the same information again. Appreciate your thoughts on this.


Regards

alyxzandra

Kate_fixing_it wrote: »

My thoughts are with you Alyxandra.

To hell with the debts! If they have to wait a bit longer so be it, the trip was more important. I hope you are taking good care of yourself at this difficult time.

Kate x

Thank you. Just spoke to Stepchange and all is sorted. Reduced payments are at hand.

cmcavon

I've just been catching up on this thread and noticed lots of people recommend token payments for a few months.

Stepchange told us not to pay anything for one month as creditors give you 30 days grace once you give them your stepchange ref number.

It's our first month of not meeting minimum payments so I'm completely new to this but thought it worth mentioning.

alyxzandra

Thank you, everyone for your kind words. I am touched. We may all just see words from each other, but it is always nice to remember there is someone on the other side of the keyboard. Life is too short to let everything go and just worry about our debts. We need to care for ourselves along the way. This was my wake up call. I need to sort myself out so my son does not watch me slowly kill myself with smoking and being overweight. Neither of them are worth it in the end.

I implore everyone to remember that debts will always continue, but life will not. As long as we have life we have hope. Do not let the stress of debt get to you and just deal with it and move on. So many people have come out of a debt management plan and seen the other side. I have two friends who did and this month one finished his after 7.5 years. Yes, it is stressful. I will not deny that. But, your health is more important.

So, onward to sorting myself out and raising awareness of diabetes being a silent killer.

Kate_fixing_it

City1 wrote: »

Hi,


We have just started getting replies back to letters for offer of payments, at the moment MBNA have accepted and frozen our interest. I think TSB, B of S have accepted, are not charging further interest but they mentioned something about historical interest (or something like that). They have told me that I have to cancel some dd's for example utilities, I can't understand why they would ask for this.


HSBC have not accepted my offer, they want to speak with me with regards it and I need my SOA to hand, what difference does that make as I am only going to give them the same information again. Appreciate your thoughts on this.


Regards

HSBC haven't accepted mine either but it's been 3 months and the debts are going down! The library of automated letters they have is amazing. I'd personally write back again with the same details and highlight the fact that you will only communicate in writing.

Don't let them bully you. YOU are in control and you have offered them all you have. You'll probably get a few more letters asking you to call and talk about the situation. Again they'll be more of the same and there'll be a lot of may/might/could language. Eventually they'll send you some waffle about signature on file not matching and at that point you've got through the obstacle course

Alternatively, you might get lucky and they'll pass it on quickly. DCAs are much easier to handle.

They have been like a playground bully with me and much as I'd advise anyone, the moment I stood up to them they backed off. Just keep paying and they'll eventually shut up and go away.

Kate x

FuzzyDF

Puzzcat wrote: »

Fuzzy I would be far to curious to know what the creditors were going to say and would speak to them and then get what was said in writing..I can't stand waiting around....!

Still got my fingers crossed for your health issues. Xxx

Puzzcat, I took your advice and bravely phoned Hellifax and BOS back. As I had made a complaint to the CEO they are defaulting ALL of my accounts, passing them to their DCA and all interest will be frozen, plus they are refunding charges. Didn't think that would happen :T

Kate_fixing_it

FuzzyDF wrote: »

Puzzcat, I took your advice and bravely phoned Hellifax and BOS back. As I had made a complaint to the CEO they are defaulting ALL of my accounts, passing them to their DCA and all interest will be frozen, plus they are refunding charges. Didn't think that would happen :T

Fantastic! So pleased for you

Kate x