When will the letters stop

skint_welshman

Glad I found this site. Been feeling very alone as if I am the only one. Currently owe £70,000 (not including Mortgages) Started the road to be debt free in March. I am using payplan , have to say very helpful and glad I went there rather than the parasites advertising on TV who promise the world.:j
Just fed up with the continuing letters, especially the banks (have to say the credit card companies tend to leave me alone) passing the debt between themselves and the debt agency then back again. Will this roundabout stop. Will the interest finally stop. Will they ease up on the letters. I must have 1/2 a rain forest in my files.

rog2

Hi swm - pleased to see that you are happy with Payplan - a wise choice.

As far as the Banks are concerned, they do tend to behave in this way and you should refer all correspondence back to Payplan. As long as you are making the minimum payments, as agreed with Payplan, then there is little, in real terms, that the banks can do about it.
I'm told that they do, eventually, lay off.

pinkkat8910

Ah yes ... I remember that phase - the postman turning up in a lorry and dumping half a rainforest through my letterbox - buggars!

Yes it does ease up but unfortunately it normally takes a few months to do so ... once they agree a reduced payment with Payplan they'll stop bombarding you and you should only receive statements.

On a side note though, there is no guarantee that all your creditors will freeze the interest - i assume payplan told you this?