DMP Mutual Support Thread (Part Three)

AmyV_2

Jigglyjon - I don't know where I got this from - poss National Debtline - but its worth a try. Not a complaint exactly - but a request for them to be reasonable, given the circumstances!

To:
Dear Sir/Madam
Re: Account/Reference Number

Thank you for your letter/telephone call of _________ concerning the above account. I am /we are sorry that you feel unable to suspend interest charges on the above account.

The majority of my/our other creditors have agreed to the offer of payment and agreed to suspend any interest charges still accruing. They have accepted that to continue to charge interest would not assist me/us in my/our present financial difficulties, and can only serve to increase our total debt.

As you are aware, I/we have already paid considerable sums in interest to my/our account. If interest charges continue, the monthly installments I/we are paying will not even cover that interest. Also the co-operation of my/our other creditors who have agreed to freeze interest already would be put at risk.

(Optional - add details of your circumstances and financial situation)

I/We would therefore be grateful if you would reconsider your decision not to freeze the interest. This would mean that the monthly payments I/we make would actually reduce the balance outstanding to your company.

I/We look forward to hearing from you as soon as possible.

Yours faithfully

Mogminnie

I have heard a few negative comments regarding Halifax being part of RBOS. I was told by pp that they usually charge interest for 3 month before they will consider freezing it.

Mogminnie

Is it advisable to change your number and not talk to creditors or is it better to face them and discuss options? Any advice?

newlywed

Mog - I had Mint - which are RBOS - they ignored everything I sent them but didn't ring me either. They took about 4 months to issue a default and then stopped all interest and charges so I think that sounds about right.

As for changing numbers - I couldn't be bothered with the hassle - plus some had my work number, some had home number and some had mobile - wasn't going to change all those :rolleyes: I just ignored the phone for some 0870 calls (caller ID) but answered when I was annoyed enough to feel bold

rayday2

I changed my phone number from the start and replied religiously to any letters I recieved but I was running my own DMP. My creditors were quite quick to stop interest and I do put that down to the fact they couldn't bully me any other way.

I think you sound quite scared by the whole process still Mogminnie. You are tending to jump ahead and thinking of problems. All I can say is what you are doing is a very responsible step. I have dealt with a few of your creditors and I would try (and I appreciate its easy for us to say!) to take things one step at a time. And tackle problems when and if they come up.

You are doing brilliantly so far, and not doing anything that has not been done by others before.

Sadly the main thing we do learn is that there is no set way with how companies deal with DMPs - but between us we can come up with experiences or new ways of tackling people and you will never be completely alone in it all.

Mogminnie

I have a feeling I will be back regularly for advice. It's a great relief to hear everyones experiences and helpful comments.

rayday2

You come back as often as you like with whatever is on your mind, I just wanted you to realise you are doing the right thing for your family and I admire you!

jigglyjon

Thanks for the advice guys. I think I'll wait until 3 months have gone by, then i'll write the letter.
Ray's right Mog, don't worry about speaking to creditors, I reckon it's better to speak with them, initially anyway! Mostly they are kids reading off a script - don't get wound up with them, stay polite (hard though it seems!) and stick to your guns. If the calls start getting too annoying, you can ask for them to remove your telephone number from their records by using the Data Protection Act.

Gemmzie

Still freakishly quiet on the DMP front here. We sent the new budget to Egg on the 7th - not heard anything yet. Capital One phoned on the 9th to ask for bank statements which were sent same day - heard nothing.

You'd think they'd want their increase?!

Mogminnie

Do creditors request bank statements regularly? Do you send bank statements to all parties?