DMP & Mutual Support Thread - Part 11

January2015

DJB343 wrote: »

Hey all,

I'm currently writing out the letter informing my creditors, was wondering if anyone could proof check

Account No -
Dear Barclaycard Customer Relations,
I am writing to inform you that as of the date of this letter, I am unable to proceed with any payments to the account I hold with you.

I am in correspondence with StepChange Debt Charity – you will hear from them in due course.
Please ensure all future communication regarding this account is via written letter only. I do not give permission for you to contact me by telephone. I will always respond promptly to any letters received.

Kindest Regards

Assuming this is going to be the first of many letters, but is this okay to start with?

I would add (after the Stepchage paragraph) something like....

I am formally requesting you to suspend all interest and charges on this account whilst I investigate options with Stepchange to address my financial problems.

Your patience and co-operation in this matter is greatly appreciated and I look forward to receiving your written acceptance shortly.

You can use the word 'suspend' or change it to 'freeze' - up to you. However, I would include the additional paragraphs above. Rest of the letter looks fine to me.

As soon as you notify creditors of the fact you are seeking advice creditors should implement 30 days no contact, no interest, no charges. However, I included it in all our letters - no mistake and no mention of only 30 days (they might mention it when they reply).

Dot the i's and cross the t's
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DJB343

You've done it again January2015, appreciate the response!

Also, I have a bank account in which I am £500 overdrawn - I'm looking to to use StepChange for this also, so would it fine to send this letter to them also or deal with it differently as it's a bank account?

January2015

DJB343 wrote: »

You've done it again January2015, appreciate the response!

Also, I have a bank account in which I am £500 overdrawn - I'm looking to to use StepChange for this also, so would it fine to send this letter to them also or deal with it differently as it's a bank account?

It's credit - send the same letter

To be fair - so many people helped me two years ago. I was asking very much the same questions....watch this space and it will be you firing off responses to new DMPers queries in just a few months. :beer:

Edit: make sure you don't have any money in any bank associated with any of your debts before sending letters. Banks have the right of offset - which means if you have money in one account but owe them money on another, then they can just take that money without asking you. You're probably okay - just thought I'd check.

DJB343

Ha and I'd be more than happy to help, you guys have managed to get me this far - in which I am unbelievably thankful for.

DJB343

January2015 wrote: »

Edit: make sure you don't have any money in any bank associated with any of your debts before sending letters. Banks have the right of offset - which means if you have money in one account but owe them money on another, then they can just take that money without asking you. You're probably okay - just thought I'd check.

Yeah already did my research into that, and TSB seemed to be the safest ship to jump to!

Odinn

Just recieved a lovely letter of Natwest headed.

Formal notice of intention to file a default and to take action to recover the debt.
Full of blah blah blah
Important seek help from a Solicitor blah blah

Take it this is just standard drivel as stepchange are dealing with them.

sourcrates

Odinn wrote: »

Just recieved a lovely letter of Natwest headed.

Formal notice of intention to file a default and to take action to recover the debt.
Full of blah blah blah
Important seek help from a Solicitor blah blah

Take it this is just standard drivel as stepchange are dealing with them.

Yes, just parr for the course.

File in the bin, or keep for your records

Odinn

Thats what i thought ive placed it in file 13.

OrganisedNic

DJB343 wrote: »

Ha fantastic advice as always January2015!

I tried doing it via my online banking, - and it said 'unable to cancel standing order please call us, quoting 'ref' '

It's a first direct loan with whom I also bank. Thinking they'd probably want to know why I'm cancelling the SO from them, hence why they won't just let me cancel it online...

Hi , I have a personal loan with first direct and wasn't able to cancel the SO either without ringing them. I thought that because SC had contacted them they would cancel it for me but they didn't so it came out the next month leaving me massively overdrawn. When I rang them to find out they told me because I hadn't explicitly told them to cancel, they would continue taking it out of my overdraft until I did. So I told them :rotfl:
I've had no problems since- my first SC payment comes out on 1st April.

So my advice - cancel as soon as you can and make sure you have no money in your FD account - a basic bank account not related to any of your debts is strongly recommended !

All the best

mica2

hi, just wanted to briefly thank you all for your incredible support! I am too frazzled right now to reply properly but hopefully soon.