Help with a Creditor

7839matth

Good afternoon!

I have been on a DMP with Stepchange now for around 18 months and everything is going fairly well, untill i recieved a letter a few weeks ago from 1 of my creditors.

It wasnt a nasty letter, but just a statement of payments made, compared to payments expected. Looking into this and almost half of the payment i make to them each month (via Stepchange) goes on interest. I informed Stepchange of this, they were fairly shocked and have re-submitted paperwork to this creditor to have them lower the interest rates.

Then this morning i have recieved another letter from the same creditor, demanding that i pay all arrears by the 7th of Jan. The arrears stand at around £1700 (which also includes interest that they have missed out on). The letter includes the usual threats of court etc.

Again i informed Stepchange of this and they have basically said wait untill i get a CCC form through from them.

My worry is starting to build up again now, things have been going fine and i havent missed a DMP payment since it's inception. However now i'm starting to get letters through again, it's a tad worrying.

I'm hoping that the creditor sells on the debt, which would freeze the interest on it completly.

The Creditor in question is ZOPA P2P Lender.

Does anyone have any advice on this? Or dealt with Zopa this far into a DMP?

sourcrates

Hi,
Creditors don't have to stop interest, however most do when asked.

I would try writing to them, and asking them to stop interest, as it's making it more difficult for you to pay off your debt.

If they won't, then you'll have to hope they will sell the account on pretty shapish !!