Your views and questions.

Moderators: TalbotWoods, JaneClack

By mikebrown1
#119473 Hi,

I have just set up a DMP through CCCS and up until 8 weeks ago I was almost up to date with the minimum payments.

I stopped paying whilst the plan was being set up and most of the creditors have frozen interest and charges (even MBNA)

However, I have just had an add up and since I stopped paying (4-8 week) I have been loaded with interest and charges and fees for reminders (over £800) although I phoned eveyone explaining the situation.

I think to myself, I am trying to sort out my affairs and pay everyone something, but before I have even started another £800 has been added on.

Is it worth me calling them to see if they will take the latest charges off??

Thanks and regards
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By chillychicky
#119609 For a DMP to work obviously you need to get the creds to stop interest & charges. CCCS will work on your behalf to get the creds to do this & unfortunately it could take a while.

I doubt they will. Creds don't have to freeze interest & stop late charges & some will want you to have been on a DMP for 6 months before they will consider it (where the logic for that comes from I don't know!)
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#120063 Hi Mike, it breaks my heart to read on here people getting continually stuffed by CC companies at that rate....have to seriously rejected the option of bankruptcy mate..they's get nothing then and you'd be better off in all respects mate :D

Debt management is sadly a rip off for many poor souls.. :evil: makes me feel sorry for folks really.
#120118 Have you sent a letter explaining your circumstances toeach creditor most will stop the interest once they are aware you are on a DMP