Interest ?

Dolly_daydream

I'm making sure that 2017 is going to be the most frugal here ever as I have a debt of £12,000 that is being paid monthly. It will take approx 16 months to pay,although they are continuing to charge interest so that means will probably be 18 months.
I have read so much over the last few weeks but did read an article to say that if you are in a payment plan then interest stops.
I wouldn't be surprised if I read it wrong as to be honest the whole debt thing has rocked my world and I'm only now getting to grips with it.
Any help would be much appreciated

dieselv2

Interest doesn't just stop, they write to the creditors and ask them to freeze interest, late charges, etc but they don't have to. I had all but one agree to freeze them.

Dolly_daydream

Thanks for such a quick response. I will do that .