Are there any keen legal minds that think there could be a case to answer

the reason i ask is that there seems to be an inconsitent policy amongst creditors with regards to freezing interest. If for example i have 3 debts of £5000 to each creditor and 2 crditors have frozen interest, and the remaining one continues to charge interest, how can i treat each creditor equally if i pay them on all an equal amount each month. Firstly by continuing to charge interest the said creditor is negating the benifit of paying anything towards the debt as it is increasing. Secondly by continuing to pay all creditors in equal proportion i would be treating the creditors that had frozen interest unfairly. For example if after say 3 months the creditor that had continued to charge interest applied for a CCJ or bankrupcy petition he would have an unfair advantage over the other creditors since the debt would be proportionately higher. Is there any legal expert out there who thinks there is a legal case to argue that creditors that freeze interest should be rewarded with more of if not all of the monthly cake?

This may sound far out but given that i have no assets, if wrote to each of my unsecured creditors each month offering them my total surplus income for that month in return for writing some of my debt off and at the end of the month paid the entire amount to creditor that offered the biggest write off and continued until such a point where the debt becomes servicable again. Would that not be considered as treating each unsecured creditor fairly in the eyes of the law? After all i would have given each creditor an equal shot at getting thier money each month.

Court cuts vulture fund's claim | Business | The Guardian This case might be useful to bear in mind for legal or negotiating purposes when dealing with DCA who have bought your debt. In Feb 19 th Last year British court made a ruling that Donegal ltd A vulture fund ( DCA being equivalent for consumer debt) which had claimed $55 icluding interest and charges million dollars from the Govt of Zambia for a defaulted debt of $30m that they bought for $3.2m in 1999 from the Govt of Romania, were only able to enforce $15m. This may be worth referring to when a DCAs starts adding interest and costs to original face value of the debt they bought and not to amount that they paid for it.

I think (a) means they can charge interest on interest but not at a higher rate than the interest rate on the unpaid sums. b) I think means that if it was a joint loan they have to take disregard the other partys share of the unpaid sum in order to calculate interest. please can anyone confirm this as I am eager to know and im sure many others are too, also if the debt is sold can the DCA or debt buyer start charging interest of so at what rate?

My point is to never let your creditors know that you fear BR. If they do then that puts you in a much weaker negotiating position, its like a game of poker i guess.

Tell them that unless they stop you will start giving the £25 per month to Natwest instead, PS why would you lose your job because of BR,?here are only certain jobs that you can lose because of BR , namely lawyer , Cmpany Director or MP.

Copied this thread from another forum thought it might be useful.... SB ....Credit Card debt - best way to deal with it? Moderators: Noe, TalbotWoods, Less, Paul76, Yogi Bear Page 1 of 1 [ 13 posts ] Print view Previous topic | Next topic AuthorMessage yozzzzz Post subject: ....Credit Card debt - best way to deal with it?Posted: Wed Apr 30, 2008 4:07 pm Hi, I'm New Joined: Wed Apr 30, 2008 3:50 pm Posts: 2 Afternoon - Thanks in advance for any help or advice offered. Few years ago I ran up two credit card debts, 1 with Virgin for £4500 and 1 with Halifax for £8500. I then moved to Ireland, my situation changed and I was unable to keep up minimum payments. I wrote to the both and offered my own DMP that they both agreed to and also said they wouldnt charge me any interest. £76 per month to Halifax and £45 to Virgin. After 1 year of always paying on time, they both got in touch. Virgin agreed to let me carry on payments of the same amount (its like an interest free loan!) but Halifax said that I can keep paying the £76 per month but they will have to start charging me interest and a £12 late fee. So now this debt increases by £100 per month although I am continuing to pay the £76 that was agreed. My question is, what is my best course of action to be able to resolve this? Speaking to Halifax has yielded no results except to say that after another year they will probably pass it on to a DCA. So do I a) keep paying until they pass it on b) stop paying so that they pass it on and I can negotiate with a DCA c) would I be able to offer them a early settlement amount? d) any other suggestions? Thanks Yozzzzz Top royston Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Wed Apr 30, 2008 5:00 pm Forum Regular Joined: Wed Feb 13, 2008 12:37 pm Posts: 98 yozzzzz wrote: Afternoon - Thanks in advance for any help or advice offered. Few years ago I ran up two credit card debts, 1 with Virgin for £4500 and 1 with Halifax for £8500. I then moved to Ireland, my situation changed and I was unable to keep up minimum payments. I wrote to the both and offered my own DMP that they both agreed to and also said they wouldnt charge me any interest. £76 per month to Halifax and £45 to Virgin. After 1 year of always paying on time, they both got in touch. Virgin agreed to let me carry on payments of the same amount (its like an interest free loan!) but Halifax said that I can keep paying the £76 per month but they will have to start charging me interest and a £12 late fee. So now this debt increases by £100 per month although I am continuing to pay the £76 that was agreed. My question is, what is my best course of action to be able to resolve this? Speaking to Halifax has yielded no results except to say that after another year they will probably pass it on to a DCA. So do I a) keep paying until they pass it on b) stop paying so that they pass it on and I can negotiate with a DCA c) would I be able to offer them a early settlement amount? d) any other suggestions? Thanks Yozzzzz From what I've read on here with regard to HBOS this is their normal practice. I've yet to hear of anyone who hasn't had to start paying interest and late fees after 12 months interest free DMP repayments. What they seem to do is start charging again after the 12 month period and claw back as much money as they can for a period of time and then as they told you, they pass it onto a DCA. I have the misfortune to have them as one of my creditors and they are awful people to deal with. They are a disgrace to the credit card industry in my opinion and it's a shame that they aren't regulated for their terrible attitude and sky high interest rates. If only that was only possible! Obviously, if you have the money to offer an early settlement amount it might be your best option. I wish I could get them off my back I can tell you. Top janedingdong Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Thu May 01, 2008 7:58 am Hi, I'm New Joined: Tue Apr 29, 2008 10:36 am Posts: 6 Hello Yozzzzzzz Note what you say about your own DMP. I am about to take one out with CCCS - I have a Halifax card to pay off and what you are saying has worried me. Would they be so difficult if you had your DMP through a registered agency rather than privately? What do others think? Top royston Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Thu May 01, 2008 11:40 am Forum Regular Joined: Wed Feb 13, 2008 12:37 pm Posts: 98 janedingdong wrote: Hello Yozzzzzzz Note what you say about your own DMP. I am about to take one out with CCCS - I have a Halifax card to pay off and what you are saying has worried me. Would they be so difficult if you had your DMP through a registered agency rather than privately? What do others think? Halifax and Bank of Scotland (or HBOS) from what feedback I've from them, would prefer either CCCS or PayPlan because they don't take fees from the payment you make, therefore Halifax receive all the money you pay. Unfortunately, they will after 12 months of not charging interest revert to charging again, as the OP has found. Top yozzzzz Post subject: HBOS Credit Card - any views?Posted: Thu May 01, 2008 3:36 pm Hi, I'm New Joined: Wed Apr 30, 2008 3:50 pm Posts: 2 ....thanks for your views and advice I am still not sure though what is the best course of action to take. Am I better off to keep paying my £76 per month until they pass it on to a DCA. (That will cost me about £100 per month for prob the next 6 months as they said that after another year they will pass it on). Or will I stop paying, wait till they pass it on and then try and negotiate with the DCA? If I do stop paying, how much is it likely to cost me in fees etc. - more than the £600 + £456 (6 payments at £76) I am going to get charged over the next 6 months anyway? Regards Yozzzzz Top Yogi Bear Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Thu May 01, 2008 4:44 pm Site Admin Joined: Fri May 26, 2006 8:24 pm Posts: 2667 Location: A Park near you... Other members have reported success with the tactic of writing to the creditor pointing out that whilever they're continuing to add interest and charges, the debt is increasing and negating the benefit of continuing to make any payments towards it - as well as being patently unfair on the other creditors. You then say that if they continue to add to the debt, you will cease any further payments. This in a way forces their hand a bit: in your case they would find it a bit problematic trying to take Court action against you in Ireland, and may instead result in the debt being passed to a DCA - hopefully sooner rather than later. _________________ There IS light at the end of the tunnel. Sometimes it'll shine brighter than others, but just don't lose sight of it altogether. OK? Top glynisd Post subject: Re: HBOS Credit Card - any views?Posted: Fri May 02, 2008 7:46 am 200 Club Joined: Fri Apr 21, 2006 12:58 pm Posts: 224 yozzzzz wrote: ....thanks for your views and advice I am still not sure though what is the best course of action to take. Am I better off to keep paying my £76 per month until they pass it on to a DCA. (That will cost me about £100 per month for prob the next 6 months as they said that after another year they will pass it on). Or will I stop paying, wait till they pass it on and then try and negotiate with the DCA? If I do stop paying, how much is it likely to cost me in fees etc. - more than the £600 + £456 (6 payments at £76) I am going to get charged over the next 6 months anyway? Regards Yozzzzz One tactic would be to stop paying them altogether for the time being - this often prompts them to sell the debt on to a DCA - then offer the DCA the £76 per month. Intelligent Finance were doing the same with me and I wrote and pointed out to them that, no matter how much they added in interest and late fees, I could only pay what I had to pay. Why add costs on that they were never going to get back? Finally I witheld payments, they threw tantrums for a few months (which I duly ignored) and sold the debt on. I offered the DCA slightly less than I'd offered IF and they accepted with no hassle - and no more added interest and late charges. At this rate your debt will just get bigger every month - I really can't understand some of these creditors! G Top Skalla Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 8:51 am Forum Recruit Joined: Tue Aug 28, 2007 11:40 am Posts: 41 The bigger the debt, the more money they can write off from their taxes and the more they can sell it for to a Debt Recovery Agency ... Top royston Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 9:38 am Forum Regular Joined: Wed Feb 13, 2008 12:37 pm Posts: 98 Yogi Bear wrote: Other members have reported success with the tactic of writing to the creditor pointing out that whilever they're continuing to add interest and charges, the debt is increasing and negating the benefit of continuing to make any payments towards it - as well as being patently unfair on the other creditors. You then say that if they continue to add to the debt, you will cease any further payments. This in a way forces their hand a bit: in your case they would find it a bit problematic trying to take Court action against you in Ireland, and may instead result in the debt being passed to a DCA - hopefully sooner rather than later. If you are in a DMP with CCCS or PayPlan can you still withhold payment, if a company keeps adding on interest etc? I'm not in that position at the moment, well I am in that my DMP is still in its early days so I have interest charges being added on at the moment, but I've no doubt that this will be this happening with HBOS eventually after the first 12 months have passed. Top Yogi Bear Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 10:56 am Site Admin Joined: Fri May 26, 2006 8:24 pm Posts: 2667 Location: A Park near you... royston wrote: If you are in a DMP with CCCS or PayPlan can you still withhold payment, if a company keeps adding on interest etc? Only with their co-operation, because you pay them a single payment and they then distribute it pro-rata to the creditors. So you'd have to deduct the appropriate amount from what you paid, and tell them which creditor(s) not to pay. At least, I think that's how it would have to work. _________________ There IS light at the end of the tunnel. Sometimes it'll shine brighter than others, but just don't lose sight of it altogether. OK? Top glynisd Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 11:12 am 200 Club Joined: Fri Apr 21, 2006 12:58 pm Posts: 224 Yogi Bear wrote: Only with their co-operation, because you pay them a single payment and they then distribute it pro-rata to the creditors. So you'd have to deduct the appropriate amount from what you paid, and tell them which creditor(s) not to pay. At least, I think that's how it would have to work. That's how I did it. Payplan weren't altogether happy about it but I insisted. At the end of the day, I pointed out, it is still *my* money and any flak from the creditor is ultimately aimed at *me*. G Top royston Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 11:28 am Forum Regular Joined: Wed Feb 13, 2008 12:37 pm Posts: 98 glynisd wrote: Yogi Bear wrote: Only with their co-operation, because you pay them a single payment and they then distribute it pro-rata to the creditors. So you'd have to deduct the appropriate amount from what you paid, and tell them which creditor(s) not to pay. At least, I think that's how it would have to work. That's how I did it. Payplan weren't altogether happy about it but I insisted. At the end of the day, I pointed out, it is still *my* money and any flak from the creditor is ultimately aimed at *me*. G Did it have the desired effect on the Company involved? Top glynisd Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 12:16 pm 200 Club Joined: Fri Apr 21, 2006 12:58 pm Posts: 224 royston wrote: Did it have the desired effect on the Company involved? Yes, eventually. Basically I pay my surplus to Payplan each month through bank transfer so I control the amount I send to them. Usually it's a case of transferring the surplus as defined in my plan but sometimes, if there's an unexpected cashflow problem (for example last November we had to have some emergency repairs done on our house and that had to come first) I adjust the amount I pay and email Payplan to explain why. Payplan advise me and divvy up my surplus each month so it makes life easier for me generally, but it's still my debt and my salary and me that will have to face any consequences so I politely but firmly make sure that my dmp works in my favour - my creditors get paid but at the same time I've no intention of suffering major hardship. G

I am at a crucial time of deciding what to do, im just trying to get as much info and advice from as many sources as possible. PM was usd just so wasnt accused of advertising since i was invited to the site by anonomous person etc although i do like their approach. Hope you were not offended and apologies if you were. Anyway check out the thread that i copied from another forum what do you thinK?

Hi there I copied the following thread from another forum which may be of interest to this debate ________________________________________________________________ ForumAll times a ....Credit Card debt - best way to deal with it? Moderators: Noe, TalbotWoods, Less, Paul76, Yogi Bear Page 1 of 1 [ 13 posts ] Print view Previous topic | Next topic AuthorMessage yozzzzz Post subject: ....Credit Card debt - best way to deal with it?Posted: Wed Apr 30, 2008 4:07 pm Hi, I'm New Joined: Wed Apr 30, 2008 3:50 pm Posts: 2 Afternoon - Thanks in advance for any help or advice offered. Few years ago I ran up two credit card debts, 1 with Virgin for £4500 and 1 with Halifax for £8500. I then moved to Ireland, my situation changed and I was unable to keep up minimum payments. I wrote to the both and offered my own DMP that they both agreed to and also said they wouldnt charge me any interest. £76 per month to Halifax and £45 to Virgin. After 1 year of always paying on time, they both got in touch. Virgin agreed to let me carry on payments of the same amount (its like an interest free loan!) but Halifax said that I can keep paying the £76 per month but they will have to start charging me interest and a £12 late fee. So now this debt increases by £100 per month although I am continuing to pay the £76 that was agreed. My question is, what is my best course of action to be able to resolve this? Speaking to Halifax has yielded no results except to say that after another year they will probably pass it on to a DCA. So do I a) keep paying until they pass it on b) stop paying so that they pass it on and I can negotiate with a DCA c) would I be able to offer them a early settlement amount? d) any other suggestions? Thanks Yozzzzz Top royston Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Wed Apr 30, 2008 5:00 pm Forum Regular Joined: Wed Feb 13, 2008 12:37 pm Posts: 98 yozzzzz wrote: Afternoon - Thanks in advance for any help or advice offered. Few years ago I ran up two credit card debts, 1 with Virgin for £4500 and 1 with Halifax for £8500. I then moved to Ireland, my situation changed and I was unable to keep up minimum payments. I wrote to the both and offered my own DMP that they both agreed to and also said they wouldnt charge me any interest. £76 per month to Halifax and £45 to Virgin. After 1 year of always paying on time, they both got in touch. Virgin agreed to let me carry on payments of the same amount (its like an interest free loan!) but Halifax said that I can keep paying the £76 per month but they will have to start charging me interest and a £12 late fee. So now this debt increases by £100 per month although I am continuing to pay the £76 that was agreed. My question is, what is my best course of action to be able to resolve this? Speaking to Halifax has yielded no results except to say that after another year they will probably pass it on to a DCA. So do I a) keep paying until they pass it on b) stop paying so that they pass it on and I can negotiate with a DCA c) would I be able to offer them a early settlement amount? d) any other suggestions? Thanks Yozzzzz From what I've read on here with regard to HBOS this is their normal practice. I've yet to hear of anyone who hasn't had to start paying interest and late fees after 12 months interest free DMP repayments. What they seem to do is start charging again after the 12 month period and claw back as much money as they can for a period of time and then as they told you, they pass it onto a DCA. I have the misfortune to have them as one of my creditors and they are awful people to deal with. They are a disgrace to the credit card industry in my opinion and it's a shame that they aren't regulated for their terrible attitude and sky high interest rates. If only that was only possible! Obviously, if you have the money to offer an early settlement amount it might be your best option. I wish I could get them off my back I can tell you. Top janedingdong Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Thu May 01, 2008 7:58 am Hi, I'm New Joined: Tue Apr 29, 2008 10:36 am Posts: 6 Hello Yozzzzzzz Note what you say about your own DMP. I am about to take one out with CCCS - I have a Halifax card to pay off and what you are saying has worried me. Would they be so difficult if you had your DMP through a registered agency rather than privately? What do others think? Top royston Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Thu May 01, 2008 11:40 am Forum Regular Joined: Wed Feb 13, 2008 12:37 pm Posts: 98 janedingdong wrote: Hello Yozzzzzzz Note what you say about your own DMP. I am about to take one out with CCCS - I have a Halifax card to pay off and what you are saying has worried me. Would they be so difficult if you had your DMP through a registered agency rather than privately? What do others think? Halifax and Bank of Scotland (or HBOS) from what feedback I've from them, would prefer either CCCS or PayPlan because they don't take fees from the payment you make, therefore Halifax receive all the money you pay. Unfortunately, they will after 12 months of not charging interest revert to charging again, as the OP has found. Top yozzzzz Post subject: HBOS Credit Card - any views?Posted: Thu May 01, 2008 3:36 pm Hi, I'm New Joined: Wed Apr 30, 2008 3:50 pm Posts: 2 ....thanks for your views and advice I am still not sure though what is the best course of action to take. Am I better off to keep paying my £76 per month until they pass it on to a DCA. (That will cost me about £100 per month for prob the next 6 months as they said that after another year they will pass it on). Or will I stop paying, wait till they pass it on and then try and negotiate with the DCA? If I do stop paying, how much is it likely to cost me in fees etc. - more than the £600 + £456 (6 payments at £76) I am going to get charged over the next 6 months anyway? Regards Yozzzzz Top Yogi Bear Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Thu May 01, 2008 4:44 pm Site Admin Joined: Fri May 26, 2006 8:24 pm Posts: 2667 Location: A Park near you... Other members have reported success with the tactic of writing to the creditor pointing out that whilever they're continuing to add interest and charges, the debt is increasing and negating the benefit of continuing to make any payments towards it - as well as being patently unfair on the other creditors. You then say that if they continue to add to the debt, you will cease any further payments. This in a way forces their hand a bit: in your case they would find it a bit problematic trying to take Court action against you in Ireland, and may instead result in the debt being passed to a DCA - hopefully sooner rather than later. _________________ There IS light at the end of the tunnel. Sometimes it'll shine brighter than others, but just don't lose sight of it altogether. OK? Top glynisd Post subject: Re: HBOS Credit Card - any views?Posted: Fri May 02, 2008 7:46 am 200 Club Joined: Fri Apr 21, 2006 12:58 pm Posts: 224 yozzzzz wrote: ....thanks for your views and advice I am still not sure though what is the best course of action to take. Am I better off to keep paying my £76 per month until they pass it on to a DCA. (That will cost me about £100 per month for prob the next 6 months as they said that after another year they will pass it on). Or will I stop paying, wait till they pass it on and then try and negotiate with the DCA? If I do stop paying, how much is it likely to cost me in fees etc. - more than the £600 + £456 (6 payments at £76) I am going to get charged over the next 6 months anyway? Regards Yozzzzz One tactic would be to stop paying them altogether for the time being - this often prompts them to sell the debt on to a DCA - then offer the DCA the £76 per month. Intelligent Finance were doing the same with me and I wrote and pointed out to them that, no matter how much they added in interest and late fees, I could only pay what I had to pay. Why add costs on that they were never going to get back? Finally I witheld payments, they threw tantrums for a few months (which I duly ignored) and sold the debt on. I offered the DCA slightly less than I'd offered IF and they accepted with no hassle - and no more added interest and late charges. At this rate your debt will just get bigger every month - I really can't understand some of these creditors! G Top Skalla Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 8:51 am Forum Recruit Joined: Tue Aug 28, 2007 11:40 am Posts: 41 The bigger the debt, the more money they can write off from their taxes and the more they can sell it for to a Debt Recovery Agency ... Top royston Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 9:38 am Forum Regular Joined: Wed Feb 13, 2008 12:37 pm Posts: 98 Yogi Bear wrote: Other members have reported success with the tactic of writing to the creditor pointing out that whilever they're continuing to add interest and charges, the debt is increasing and negating the benefit of continuing to make any payments towards it - as well as being patently unfair on the other creditors. You then say that if they continue to add to the debt, you will cease any further payments. This in a way forces their hand a bit: in your case they would find it a bit problematic trying to take Court action against you in Ireland, and may instead result in the debt being passed to a DCA - hopefully sooner rather than later. If you are in a DMP with CCCS or PayPlan can you still withhold payment, if a company keeps adding on interest etc? I'm not in that position at the moment, well I am in that my DMP is still in its early days so I have interest charges being added on at the moment, but I've no doubt that this will be this happening with HBOS eventually after the first 12 months have passed. Top Yogi Bear Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 10:56 am Site Admin Joined: Fri May 26, 2006 8:24 pm Posts: 2667 Location: A Park near you... royston wrote: If you are in a DMP with CCCS or PayPlan can you still withhold payment, if a company keeps adding on interest etc? Only with their co-operation, because you pay them a single payment and they then distribute it pro-rata to the creditors. So you'd have to deduct the appropriate amount from what you paid, and tell them which creditor(s) not to pay. At least, I think that's how it would have to work. _________________ There IS light at the end of the tunnel. Sometimes it'll shine brighter than others, but just don't lose sight of it altogether. OK? Top glynisd Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 11:12 am 200 Club Joined: Fri Apr 21, 2006 12:58 pm Posts: 224 Yogi Bear wrote: Only with their co-operation, because you pay them a single payment and they then distribute it pro-rata to the creditors. So you'd have to deduct the appropriate amount from what you paid, and tell them which creditor(s) not to pay. At least, I think that's how it would have to work. That's how I did it. Payplan weren't altogether happy about it but I insisted. At the end of the day, I pointed out, it is still *my* money and any flak from the creditor is ultimately aimed at *me*. G Top royston Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 11:28 am Forum Regular Joined: Wed Feb 13, 2008 12:37 pm Posts: 98 glynisd wrote: Yogi Bear wrote: Only with their co-operation, because you pay them a single payment and they then distribute it pro-rata to the creditors. So you'd have to deduct the appropriate amount from what you paid, and tell them which creditor(s) not to pay. At least, I think that's how it would have to work. That's how I did it. Payplan weren't altogether happy about it but I insisted. At the end of the day, I pointed out, it is still *my* money and any flak from the creditor is ultimately aimed at *me*. G Did it have the desired effect on the Company involved? Top glynisd Post subject: Re: ....Credit Card debt - best way to deal with it?Posted: Fri May 02, 2008 12:16 pm 200 Club Joined: Fri Apr 21, 2006 12:58 pm Posts: 224 royston wrote: Did it have the desired effect on the Company involved? Yes, eventually. Basically I pay my surplus to Payplan each month through bank transfer so I control the amount I send to them. Usually it's a case of transferring the surplus as defined in my plan but sometimes, if there's an unexpected cashflow problem (for example last November we had to have some emergency repairs done on our house and that had to come first) I adjust the amount I pay and email Payplan to explain why. Payplan advise me and divvy up my surplus each month so it makes life easier for me generally, but it's still my debt and my salary and me that will have to face any consequences so I politely but firmly make sure that my dmp works in my favour - my creditors get paid but at the same time I've no intention of suffering major hardship. G

I know its not advisable to pick up the phone or talk to DCAs on phone but was wondering if when they phone could ask them for an email address to contact them on?

Now that youve gone through all of that, you might want to post a copy of that notice of discontinuation to the other 9 cc companies and see what they will offer you now. be interesting to see if they change thier tune,

im not sure yet? Just want to know if that whole debt with Nationwide has now been written off for you ?or can they somehow open up the claim again or sell it or pass it onto another DCA

Congratulations, does that mean you dont have to make any payments to that creditor? ie your monthly payments have decreased? why would you decide yo pay them? will this result improve your credit record in any way?Perhaps now you can adopt my suggested strategy of offering them something in return for debt written off?

what is the favourable outcome and what is the worst outcome of going to court?

I think what you are doing is sound as long as you can afford the payments what with the cost of living goin up daily, It would be interesting to see how a court would react, surely i would have been acting fairly by giving each cc company equal chance at getting some of their money back. The strategy that the banks are using is to pile on as much interest as possible so that they can claim more in any court action or bankruptcy, there needs to be some challenge to them doing this. Thats why they keep hounding people and forcing them into filing their own bankruptcy which is insane and also costs money. I dont think anyone should declare themselves bankrupt ,not for the stigma ect but for the simple reason that it costs money and that cost should be borne by the creditor not the debtor. I think banks have tried to create so much fear around debt and most of it is an illusion. Didnt some one once say that 'you have nothing to fear but fear itself'.

So why dont you only pay the ones that have frozen interest? and let the others sing for it . I think we have to look at them as being in the business to maximise profit(i.e minimising cost), selling debts to or appointing DCas costs them money, money that they could be giving back to us.

Sorry im new what is IMHO?

Im sure they will start sending letters threatning all sorts of legal action, but wait a minute , if each one knows there are 7 other creditors, the question is would any of them step out of line and and bear the cost of legal action and give the other 7 a free ride? mmm . From what im reading in the papers is that banks are stapped for cash at the moment, and it sounds like cash NOW for them might be more valuable than the possiblity of cash later minus the cost and hassle of legal action.

So ill pay the ones that accept it, and ignore the calls from the ones that dont, maybe they will get fed up of getting no money and start living in the real world!

Hi There,Im new, A thought occured to me when i was making my monthly minimum payments to each of my 8 credit cards. How did i get into this position, wasnt it the banks that were competing hand over fist to turn me into a 'rate tart' . Now that i am struggling to pay back each one, they have given me no option but to become a 'repayment tart'. Im seriously considering writing to each company and requesting what they are going to do for me in order to get this month's minimum payment. The one that offers me the best terms ie reduced interest , refund of charges or even debt written off will get a larger share of what i can afford to pay back. Given the current climate, and the rediculous rates that some ccard companies are charging outside of the offers like 24%, i think they would sit up and listed if we all adopted this strategey. Is anyone else feeling the same?