Interest on debt

copon

Hi All

Im new on here so please be nice, I was wondering if anyone has had something similar done to them and if there is anything anyone can suggest?
In 2002 I entered into a debt management agreement with all my creditors,
banks and credit cards. I paid them what I could and reviewed my financial
statement every six months or so and paid more if I could.
In the first letters that I wrote I asked them to freeze the interest
this they all did or so I thought.
Now in 2008 I have paid off two of my credit cards and wittled down the
other three I should be able to pay them off by the end of the year.
The banks are a different story Natwest and RBS transferred my debt to
Credit Management at Telford, last week (for Natwest debt) they rang me asking to increase my payments this I said I would do, when I asked how much was left owing (they never send statements) it seems I owe £1,800
the original debt was £2400 approx surprised I asked if the interest had
been frozen they said no and it was 16% .
Is there anything I can do to get the interest stopped

poorandindenial

Hello and welcome to the board, can I ask whether you manage your own DMP or is it run by another organisation??

GeorgeUK

I would request a copy of the credit agreement, statement of accounts and notice of assignment.

http://forums.moneysavingexpert.com/showthread.html?t=578486

Some places stop the interest for about a year, then start again. Usually though it is then passed on to a DCA after about 6 months. Do you know how long ago the debt was passed on?

copon

I first took advice off CAB, looked through the debtline folder then did it myself

copon

As soon as I told the bank about my problems it took about 2-3 months
before they passed it on to Credit Management who I think is the collection
arm of the banks Natwest and RSB anyway