should a min payment help arrangment with Cap 1 affect my claim?

[strapt]

Hi, just got onto this site today and am going to start with my own requests for charges info soon and see how it goes from there. Quick question tho - I recently acknowledged that I had a debt problem and after speaking to debt help freephone lines spoke to my creditors directly and have arranged with some to enter into an agreed period (on average 3 months) of paying less than the min monthly payment. (egg has frozen my repayments fro 3 months entirely). Cap 1 refused to help in such a way until i defaulted again (as i hadnt the month i phoned them) so i am in the process of defaulting - for which they will charge me - on purpose just to recieve some help with the min payments that i cant afford. question is; do these sorts of arrangements affect a claim at all, and also, if i am having dificulty with my debts am i really in a position to be taking my creditors on? I have to admit im scared that they will (i.e also my bank) just close my accounts and ask me to repay in fullfor my repayments ment in full. Hope you can help! Strapt.

[clayts]

Yes, absolutely do take the creditors on, even if you have debt management arrangements in place - I have arrangements with all bar Nationwide, and there's been no ill effect thus far.

Chances are the reason you're in a pickle is partly due to these charges, so I'm sure even the creditors would accept that if you could reduce your debts to them by the amount of charges they have added to your account, it would be in everyone's best interests.

Have no fear - there are plenty of folks on here who are on debt management plans who have reclaimed/are in the process of reclaiming their fees.

Go for it

[strapt]

Thanks Clayts, yeah that basicllay is the root cause of my problems, like you say. Been reading lots on the site and the faq's; learning bit by bit. Its still tempting to post slightly repetitive questions tho which i sense happens a lot. i guess its just because even tho people can read what others have posted its still nice to address your own concerns with a direct question. Thanks for your reply. i havent read many posts from people that have experienced having their bank accounts closed? is this because it doesnt really happen? if my bank turned around and said pay up my overdraft with 30 days i would be screwed!

[clayts]

Alliance & Leicester and Nationwide have definitely been a bit draconian in closing accounts - I'm not too sure about others : best to check in the individual forums for each organisation you intend to pursue.

I'm not aware of any credit card companies withdrawing their facilities.