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DMP and Natwest still adding interest


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Hi

 

I had a Natwest Loan for £9,000. I am now on a Debt Management Plan with the CCCS, but Natwest are refusing to stop the interest. I have been paying them through the plan for around 5 months now.

 

The interest is £110 per month, which is more than they were receiving, so the debt has increased.

 

Has anyone had success with getting Natwest to stop adding interest while they were on a DMP. Does anyone have any advice? I'm making every effort to reduce my debt and the interest is increasing it.

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not had any dealings personally. normally cccs are good with stopping interest etc, have you asked cccs to try again?

 

ida x

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  • 2 weeks later...

Is it definitely a loan or is it an overdraft? I've just put my partner on a self managed dmp while I'm on maternity leave, they refused to stop interest to the overdraft but as interest is added to the loan as a lump sum it was irrelevant (to them, cough).

 

Have they defaulted you yet?

I love CAG!

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cca#s have nothing to do with stopping interest

 

sending a cca ensures that whoever contacts you have the right to actually ask for payment

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so if i sent you a letter saying you owe me £100, would you pay it?

 

you would send me a cca to see if i am entitled to ask you for payment

 

ida x

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