Dmp

Debt-queen

Hi I'm new to this so I hope I have posted this in the correct forum I'm currently working with stepchange from July 2014 they didn't get all my interest stopped and have phoned them asking is there anything u can do to sort this out they replied no they could only get them reduced and I would have to wait until all my 5 creditors default me. I noticed on my credit check 2 already have but I have only heard from sainburys saying they are passing my debt to a recovery agency (not sure how that works) I no Others have got interest stopped so is there anyone who can advise me are have been in the sane position on what my next step is as it's so annoying to receive statements with interest charges I would be so grateful

Puzzcat

Hi,
You need to write to your creditors yourself and request this.
If you have time pop over to the dmp mutual support thread, it is on the first page debt free wannabe. Try and read back through it, loads of information about dmp's and every now and then someone post's the template you can use to ask your creditors to stop interest. Unfortunately they do not have to do this but most freeze or reduce and you can always then complain to the FOS but you must write and complain to your creditors first.
Puzz

Debt-queen

Thanks puzzcat I will check that tonight much appreciated

Deep_In_Debt

Hi

Here is a sample letter you can use from National Debtline. https://www.nationaldebtline.org/EW/sampleletters/sole-letters/Pages/Freeze-interest-%28sole-name%29.aspx

Debt-queen

Thanks deep in debt that's a great help fingers crossed I get sorted need as much as possible to reduce my debts.

Sazzie23

Page 141 I think on Dmp mutual support thread for some templates if still needed.

Glad you've been keen enough to spot that interest is still accruing.
Some creditors are more likely to reduce than others and it can depend on the level of repayment you are meeting. Hardballers on the Dmp support thread recommend reducing to token payments until they cut interest.

hope this helps

Debt-queen

Hi sazzie thanks for your advice unfortunately I'm in a DMP so token payments are out of the question