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    • SLK10
    • By SLK10 14th Jun 17, 7:45 PM
    • 3Posts
    • 1Thanks
    Entering own DMP with creditors
    • #1
    • 14th Jun 17, 7:45 PM
    Entering own DMP with creditors 14th Jun 17 at 7:45 PM
    Hello all...I spoke to Barclaycard and MBNA about financial difficulties I am experiencing and the anxiety its causing me. Barclaycard said they could take some financial details and would consider freezing interest, but that this is something I should take some advise on as it could effect my credit score. I am not looking to get further credit, but do want to get basic credit such as mobile phones etc in the future. I am desperate to get on top of my debt and clear it, but the interest on top is slowing my progress massively. I am so anxious and stressed by it.
    My question is that should I call my individual lenders and tell them of my problems or will they just all freeze my cards and never offer me 0% ever again still demanding the interest? Has anyone done this? I have called Step Change and registered with them too, so will get their advise tomorrow. I would rather try and negotiate something with my lenders directly opposed to a DMP with Stepchange, I think. Can anyone give me advice if you've been in a similar situation. I have lots of cards, some charge interest, some don't (but will in the future). Desperate to resolve and be free again.

    Thank you.
Page 1
    • sourcrates
    • By sourcrates 14th Jun 17, 8:01 PM
    • 14,032 Posts
    • 13,287 Thanks
    • #2
    • 14th Jun 17, 8:01 PM
    • #2
    • 14th Jun 17, 8:01 PM

    Individual arrangements between you and your creditors, are only ever temporary measures that last for 6 months or so.

    If you want interest and charges stopping permanently then you must go about it the correct way, usually via a DMP with one of the free debt charities.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to Any views are mine and not the official line of

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see :
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