I'm NEW! How do I stop interest charges????

danis_3

I'm trying really hard to pay off my debts and I've managed to stop most of my creditors charging me interest.
But the worse one of all, HSBC, is not stopping and they are charging me a ridiculous amount.

I'm making my payments but It's hardly making a difference on my balance because the interest is so high.
I don't know what to do, I've sent them a letter and they refused.

HELP!!!

RAS

Hi and welcome

You may find it helpful to have a word with one of the debt charities http://www.moneysavingexpert.com/loans/debt-help-plan#help

Some of them are open until 8pm.

HollyB

Hi im no expert yet still new, but for advice I would try the national Debtline, or Payplan or CCCs, they will assist you and advise on how to request the interest is frozen, out of my 10 creditors I have only 2 we (payplan) are wrangling with all the other have frozen, cant gaurantee but worth a try!!

10past6

Hi danis :hello:

Welcome to the forum

Find the name & addrees for the CEO (Google is your friend) then fill in the relevant details below, and send this letter to them, by recorded delivery:

Your Address

Date

Creditors Address

Dear Sir/Madam

Acc/Ref No xxxxxx

Thank you for your letter of xxxxxx concerning the above account.

We are are sorry that you feel unable to accept the offer which we have made. The majority of our other creditors have accepted the offers made to them and we have commenced payments.

We cannot offer you more because we can only afford £xxx per month between all our other creditors, and it would be wrong to cease or reduce payments to our other creditors in favour of your company. The offer made to you is on a pro rata basis, as used by the county court.

In the light of the other creditors agreeing to our repayment plan, please would you reconsider our offer. We will be making the payments in line with the offer to your company, on a weekly basis, as a gesture of goodwill.

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

Yours faithfully

xxxxx

Good luck

danis_3

thanks so much for your help.